Overview

On July 31, 2015, Crosstree Capital Partners announced the sale of ILS Genomics to Laboratory Corporation of America (LabCorp).

LabCorp operates one of the largest clinical laboratory networks in the world, with a United States network of 36 primary laboratories.

ILS Genomics provides commercial genomics testing services to pharmaceutical and biotechnology clients and occupies a CLIA-certified facility located in North Carolina’s Research Triangle Park.

Significance

ILS Genomics enhances LabCorp’s offerings of CLIA compliant studies and GMP compliant studies for the evaluation, support, and development of small molecules and biologics.

The acquisition expands LabCorp’s commercial genomics testing services involving 510K submissions related to Medical Devices and In Vitro Diagnostics products.

LabCorp will have additional GLP and CLIA compliant applications for biorepository collections.

Crosstree’s Role

Crosstree Capital Partners served as exclusive financial advisor to Integrated Laboratory Systems, Inc., parent of ILS Genomics.