Ancor Capital Partners is pleased to announce a partnership agreement with a southwest based provider of specialized toxicology services to clinical healthcare providers.
The Company’s toxicology testing services focus on Urine Drug Monitoring (UDM) increasingly required for prescribed pain medications, addiction medicine, and other patient screening and compliance monitoring. The Company’s pathology testing services assist gastrointestinal and dermatological medical providers. Payers for services include In-Network and Out-of-Network Commercial Insurance, Medicare, Medicaid, Tricare, and Workmen’s Compensation Carriers. Joining Ancor in the partnership is Yukon Partners, which provided the subordinated debt and a minority equity investment.
“We are extremely excited to partner with a unique laboratory testing company to assist growing it to the next level,” said J. Randall Keene, Ancor Managing Partner. “About a year ago, we identified this industry sector as an attractive investment area and had one of our Operating Partners focus on the lab testing area to identify a differentiated approach in a crowded market that would meet our criteria for an investment. We are also very fortunate to have the confidence of the existing owners who will continue to be active with us in this dynamic company,” Keene said. “In addition to teaming with our Operating Partner and owners, we are also very pleased to again partner with Yukon Partners.”
“Ancor’s vast experience and success in the health care sector and its ability to bring a professional management team to the company made it the natural partner for us,” said Bill Dietz, Managing Partner at Yukon Partners. “We are excited to have Ancor as a partner to support building the infrastructure to scale for rapid growth and maintain the quality service offering for the Company’s customers, partners, and employees.”