, Dec. 9, 2013
/PRNewswire/ -- Laboratory Supply Company (LABSCO), the leading distributor of innovative laboratory technologies and products to hospitals, physician office laboratories and alternate healthcare settings, has successfully completed the acquisition of J & S Medical Associates (J & S). The two companies will be combining forces with the goal to deliver superior diagnostics to the under 150-bed hospitals, physician office laboratories and regional reference lab markets across the country.
"We are building a platform that combines national reach with instrument sales expertise, operational excellence, and unmatched customer service," says Hank Struik, chief executive officer of LABSCO. "For over four decades, J & S Medical Associates has demonstrated a commitment to excellence through its service to customers and expanding product portfolio. With this key acquisition, LABSCO substantially broadens our geographic footprint, securing our position as a leading, coast-to-coast player in the clinical diagnostic testing and supplies market."
J & S Medical Associates, based in Framingham, Mass., is a laboratory software and supplies distribution company. Over the course of 43 years, J & S has developed a strong customer foothold in the Northeast of the United States. J & S owner John Bouchard added, "I chose to sell to LABSCO at this time because I believe that our company will grow and thrive with a management team that is committed to building a national leader on the strong foundation that our employees have created over the years." Bouchard will serve as the regional sales director for the northeast region.
LABSCO completed the J & S acquisition through the backing of Frazier Healthcare, a leading provider of growth equity and venture capital to high growth and emerging healthcare companies that acquired LABSCO in 2011. "The acquisition of the J & S business demonstrates our commitment to invest in and grow specialty healthcare service companies that are positioned to play important roles in improving the quality and reducing the cost of healthcare in the U.S.," said Nader Naini, general partner, Frazier Healthcare. Terms of the transaction are not being disclosed.
About J & S Medical Associates
J & S Medical Associates is an established 43-year-old business with a focus on sales, software, equipment and service. J & S specializes in the sales of LIS software, diagnostic instruments, equipment, service and diagnostic products to physicians' offices, laboratories and hospitals. J & S is focused on providing rapid, easy to use, cost effective software, diagnostic products, reagents and equipment to all of its customers; including the single physician practice, the major urban medical centers and the leading diagnostic/biotech companies in the industry.
J & S developed a proprietary Laboratory Information Systems (LIS) Labtrak to make connectivity in the laboratory fast and effective allowing for tracking and managing diagnostic results. This product will be provided and serviced as its own entity. For more information, visit www.labtrak.com.
LABSCO partners with the leading manufacturers to bring industry new and innovative products to customers. LABSCO boasts exclusive partnerships in the under 150 bed hospitals, physician office laboratories and regional reference lab markets with key manufacturers such as Cepheid and Sysmex. These partnerships allow LABSCO to provide best-in-class diagnostic technology to help laboratories across the country meet the challenges of healthcare reform with clarity, confidence, and commitment. This also helps LABSCO customers and partners find solutions to reduce costs while improving patient satisfaction. For more information, visit www.LABSCO.com.
About Frazier Healthcare
Founded in 1991, Frazier Healthcare is a leading provider of venture and growth buyout capital to emerging healthcare service and biopharma companies. With over $2 billion under management across seven funds, Frazier Healthcare has invested in more than 150 companies across the entire developmental spectrum. From venture investments to leveraged recapitalizations, Frazier Healthcare has established itself among entrepreneurs and seasoned executives as a preferred partner to help create and grow successful healthcare companies.
SOURCE LABSCO - Laboratory Supply Company