Persistence Capital Partners (PCP), a private equity firm focused on the healthcare sector, sold its portfolio company MedAxio Insurance Medical Services, Inc. to Gamma-Dynacare Medical Laboratories, Inc., a Canadian subsidiary of the US-based LabCorp. The financial terms of the transaction were not disclosed. The Montréal, Québec-based MedAxio, which provides medical information services to the life insurance industry, was acquired by PCP in 2008.
PRESS RELEASE
PCP Announces Sale of MedAxio Insurance Medical Services to Gamma-Dynacare
January 9, 2013 – Persistence Capital Partners (“PCP”), a private equity fund exclusively focused on high-growth
opportunities in healthcare, is pleased to announce that sale of its portfolio company, MedAxio Insurance Medical
Services (“MedAxio”), a leading Canadian provider of medical information collection services for the Canadian
life insurance industry, to Gamma-Dynacare, a Canadian subsidiary of LabCorp (NYSE: LH).
Acquired by PCP in 2008, MedAxio provides insurance paramedical examinations and tele-interviewing services
to support the life insurance underwriting process, with over 1,000 mobile health professionals performing over
250,000 examinations annually from coast to coast.
Commenting on the transaction, Stuart M. Elman, Managing Partner at PCP, said, “MedAxio has been an
excellent investment for PCP. Beyond achieving returns for our investors, we have been privileged to work with
MedAxio’s management team to build a great business. We wish them continued success as they become part of
Gamma-Dynacare and capitalize on a broad new set of opportunities to deliver value to their life insurance
clients.”
About Persistence Capital Partners
Persistence Capital Partners is a private equity fund exclusively focused on high-growth opportunities in the healthcare
field. With deep healthcare industry expertise, PCP aims to create significant long-term capital appreciation for its investors
by identifying and developing attractive investment opportunities in the Canadian healthcare market.
CONTACT INFORMATION:
Persistence Capital Partners
Stuart M. Elman
Managing Partner, Persistence Capital Partners
T: 514.499.2778
E: info@persistencecapital.com
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