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New York-based private equity firm MTS Health Investors has acquired DNA Diagnostics Center (DDC; Fairfield, Ohio), a leading genetic testing provider. Ellen Moscovitz, formerly head of LabCorps DNA testing operations, has been tapped as CEO, and Michael Baird, M.D., will continue on as the laboratory director. Financial terms of the acquisition were not disclosed.
Approximately 70 percent of MTSs business involves biological family relationship testingsuch as paternity testingwith the remaining 30 percent focused on forensics and veterinary genetics. Our growth plan is to continue to grow our core business, including paternity testing, and also expand in to other areas, said MTS Managing Director Kenton Rosenberry. Expansion plans include increasing the companys footprint in DNA testing for forensic, veterinary, immigration, and adoption services, as well as genetic testing for disease predisposition.
Much of DDCs current marketing and branding is derived from its involvement in high profile cases that have garnered significant media attention. For example, DDCs analysis identified Larry Birkhead as the father of the late celebrity Anna Nicole Smiths daughter, and DDC is the official provider of DNA testing for the Maury Povich Show and has been featured on the Dr. Phil television show.
For more on this article, please read the December issue of Laboratory Industry Report.
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