Thompson Street Capital Partners announced the acquisition of DCL Medical Laboratories, Inc., headquartered in Indianapolis with operations in the St. Louis market. This is the third deal of Thompson Street’s second fund which was formed in February 2007. Financial terms of the DCL Medical Laboratories acquisition will not be disclosed. Founded in 1983, the company has 209 total employees with more than 40 employees in the St. Louis area.
DCL Medical Laboratories provides diagnostic testing and clinical trial testing to physicians, hospitals and pharmaceutical companies throughout the central Midwest. Specializing in women’s health, DCL’s core business is anatomic pathology testing primarily for pap smears to detect cervical cancer. DCL is a pioneer in new product introductions such as ThinPrep pap and Human papillomavirus (HPV) testing. In addition, DCL is presently involved in more than 150 research protocols with major pharmaceutical companies for clinical trials of new women’s health care drugs and technology.
“As a Midwest middle market firm, we look forward to growing our presence in St. Louis and Indianapolis,” says Robert Dunn, principal with Thompson Street. “We have a lot of confidence and interest in the health care industry in general, and are particularly enthusiastic about DCL’s position in preventative health care.”
The company plans to grow organically and through acquisition of similar labs in the Midwest and is lead by a management team of lab industry veterans, including Jack Bergstrom, Executive Chairman. “DCL has an impressive reputation, is an early adopter of innovation, and has a base of loyal employees who deliver great service,” says Bergstrom. “Its central U.S. location coupled with Thompson Street’s experience with acquisitions will allow us to efficiently expand throughout the region.”