Manhattan Physicians Laboratories, a newly formed independent clinical laboratory led by former Quest Diagnostics executives, has completed the acquisition of Genatom Biomedical Laboratories (Roseland, N.J.). Financial terms of the deal were not disclosed.

From its New Jersey laboratory, Genatom provides predominantly routine laboratory services for clients in the New York-New Jersey metropolitan area and also reaches parts of Pennsylvania and Delaware.

Newly founded Manhattan Labs aims to create "the premier service oriented, high quality independent clinical laboratory in the New York metropolitan area, with a focus on Manhattan." The company is backed by $20+ million in venture capital funding led by Trevi Health Ventures (New York, NY).

"The acquisition of Genatom represents an important first step in Manhattan Labs' strategy," said Manhattan Labs president Thomas Golubic in a statement issued late yesterday. "This acquisition will provide us with the initial critical mass and reach to start us on our way to becoming the leading lab in the leading market - Manhattan - in the U.S."