SALT LAKE CITY, June 23 /PRNewswire/ -- DW Healthcare Partners (“DWHP”) today announced completion of the first phase of an $18.8 million investment in Tandem Labs, a leading Contract Research Organization (“CRO”) supporting the pharmaceutical and biotechnology industries. The new capital is earmarked to fund both organic growth initiatives and acquisitions to position Tandem Labs as the market leader in its CRO niche.
Tandem Labs is a bioanalytical services provider whose principal mission is to help clients reduce the overall time in bringing new medicines to market. The company develops, validates and performs mass spectrometry-based methods in support of clinical, pre-clinical, and discovery studies in a stringent Good Laboratory Practice (“GLP”) compliant environment. Headquartered in Salt Lake City, Utah, Tandem has laboratory facilities in both Salt Lake City and West Trenton, New Jersey. The Company is led by Chief Executive Officer, Dr. Denis Lin and a staff of recognized industry experts.
A portion of the new capital is designed to fund projected increases in capacity at both the Utah and New Jersey facilities. Tandem intends to further augment its existing mass spectrometry technology and biomarker capabilities with the latest available equipment. Additionally, Tandem and DWHP plan to actively look for accretive acquisitions in the CRO and bioanalytical services markets.
“We are excited about the opportunity to work with DW Healthcare Partners moving forward,” said Tandem’s CEO Dr. Denis Lin. “We believe we are poised for significant growth and we have been looking for a financial and strategic partner to help us realize that potential. We now have the resources to pursue our internal growth initiatives and acquisition plans that will ultimately help us to better serve our customers.”
“We believe Tandem has an outstanding technical staff and a superior service offering in the market,” said Dr. Jay Benear, one of three Managing Directors at DW Healthcare Partners. “We are thrilled to partner with the Company. Tandem Labs has a reputation for excellence and is well positioned to benefit from increased outsourcing from drug sponsors during pre-clinical and clinical trials.”
Tandem Labs has offered advanced mass spectrometry GLP compliant bioanalytical services since 1992. To date, Tandem Labs has supported nearly 100 pharmaceutical, biopharmaceutical and biotechnical clients in the US and internationally. Recently, the company also added biomarker and immunoanalytical capabilities to better service its clients. Tandem Labs is recognized as a technical and client centric leader in the global market for bioanalytical services. For more information, please visit http://www.tandemlabs.com/.
DW Healthcare Partners (“DWHP”) is a private equity firm focused exclusively on the healthcare industry. The firm invests in profitable healthcare companies with proven management teams, and is led by three seasoned healthcare executives with more than 80 years of combined experience in the industry. DWHP provides the capital, strategic guidance and acquisition expertise to help mid to late-stage companies realize their potential for growth. For more information, please visit http://www.dwhp.com/.
DW Healthcare Partners
CONTACT: Doug Schillinger of DW Healthcare Partners, +1-801-365-4006