Miraca Life Sciences’ Acquisition of PLUS Diagnostics Will Create the Largest Independent Anatomic Pathology Laboratory Company in the United States

Dallas, Texas (PRWEB) October 22, 2013

Miraca Life Sciences (“MLS”), the leading provider of expert anatomic pathology services, today announced that it has acquired PLUS Diagnostics (“PLUS”) from Water Street Healthcare Partners, a strategic investor focused exclusively on the healthcare industry. PLUS is a major cytology, histology and molecular pathology laboratory with specialization in dermatopathology, hematopathology, gastrointestinal pathology and genitourinary pathology. By adding the PLUS laboratories in New Jersey and California to the MLS’ network of seven labs, this transaction makes MLS the largest independent anatomic pathology laboratory company in the United States.

MLS is a leading pathology services laboratory providing academic-caliber diagnostic services in the fields of dermatology, gastroenterology, hematology and urology. MLS also offers cutting-edge technology solutions to assist healthcare professionals optimize both patient care and office workflow with information management initiatives, such as Meaningful Use compliance. Founded in 1990, PLUS is a leading national pathology company providing comprehensive and dynamic pathology services, tailored to the outpatient needs of urologists and gastroenterology surgical professionals who demand accuracy and efficiency as well as providing dermatopathology, hematopathology and gastrointestinal pathology services. The combined entity will serve more than 5,500 patients each day.

Dr. Frank Basile, President and CEO of MLS remarked, “We are eager to combine resources with PLUS Diagnostics, which will allow us to expand our commitment to our clients and our patients by partnering with a substantial and well-respected pathology institution. PLUS shares our vision and commitment to deliver personalized customer service and the highest quality diagnostic and prognostic information.”

In the combined company, current clients of PLUS can expect the following:

• Easy phone, email or website access to our renowned team of expert pathologists, supported by the current nationwide network of laboratories.
• Comprehensive test offerings and diagnostic reports delivered electronically in an easy-to-use format.
• Unique consensus-based medical practice leveraging the broad expertise of its distinguished faculty
• Highly accurate diagnostic and prognostic information, as evidenced by recent 100% concordance (major diagnoses) and 99.7% concordance (minor diagnoses) reviews by outside academic review
• All calls answered by our client services team during extended business hours of 6:00 a.m. to 8:00 p.m. CST.
• Convenient information available on our website: http://www.MiracaLifeSciences.com

“PLUS Diagnostics is excited to be part of a nationally-recognized, academic-caliber center for diagnostic excellence,” said David Pauluzzi, President and CEO of PLUS. “Together with Water Street, we have built PLUS into a national leader with an especially strong presence in the Northeast that is highly regarded for providing a high standard of healthcare and exceptional customer service. We believe that Miraca Life Sciences, with its vast resources and nationally acclaimed expertise, will make our commitment even stronger.”

“Miraca Life Sciences understands that every biopsy represents a patient apprehensively awaiting an answer, and MLS believes every patient deserves the right answer. The right answer is more than a diagnosis; it is specific, accurate, sophisticated, and actionable medical information derived from collaboration by the best subspecialist pathologists,” said Dr. Frank Basile. “We expect to be able to extend our world-class pathology services to a broader base of physicians and patients thanks to this transaction.”

MLS was advised by MTS Health Partners on the transaction.

About PLUS Diagnostics
PLUS Diagnostics is a leading national pathology company that provides a full range of multi-specialty services, including extensive diagnostic procedures and specialist consultations. Accredited by the College of American Pathologists, PLUS Diagnostics has long been recognized for exceptional service and quality. The company currently focuses on a broad base of specialty pathology services, including urology, gastroenterology and hematology/oncology. To learn more, please visit http://www.plusdx.net/.

About Miraca Life Sciences
Serving more than 3,500 patients each day, Miraca Life Sciences is a leader in providing an academic-caliber pathology laboratory with diagnostic services in the fields of dermatology, gastroenterology, hematology and urology. Building upon our experience with health IT, we also offer accessible technology solutions to assist healthcare professionals as they work towards accordance with Meaningful Use initiatives.

Miraca Life Sciences, a wholly-owned subsidiary of Japan-based Miraca Holdings Inc., employs a talented team of leading pathologists, histologists, lab technicians, technology consultants, and other medical professionals — all driven to help provide the highest and most up-to-date levels of diagnostic quality, enhanced workflow and practice solutions possible. It is part of our commitment: not only to scientific excellence, but to patients and practices. To learn more, please visit http://www.MiracaLifeSciences.com.

About Miraca Holdings
With group net sales of ¥192.2 billion (FYE 3/2013), Miraca Holdings, a Japan-based holding company in the healthcare sector listed on the Tokyo Stock Exchange, consists of three segments: (i) development, manufacture, and commercialization of in vitro diagnostics, (ii) clinical laboratory testing, and (iii) other healthcare related businesses, which are conducted by its subsidiaries and affiliates including Fujirebio Inc,. a leading supplier of in vitro diagnostics in Japan, and SRL, Inc., Japan’s largest commercial laboratory. To learn more, please visit http://www.miraca-holdings.co.jp/eng.

About Water Street
Water Street is a strategic investor focused exclusively on the health care industry. The firm has a strong record of building market-leading companies across key growth sectors in health care. It has worked with some of the world’s leading health care companies on its investments including Gentiva, Johnson & Johnson, Medtronic and Smith & Nephew. Water Street’s team is comprised of industry executives and private equity professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago. For more information about Water Street, visit waterstreet.com.