Endo Health Solutions today announced that its wholly owned subsidiary, HealthTronics, Inc. has entered into a definitive agreement to sell its anatomical pathology business, HealthTronics Laboratory Solutions, Inc., (“HLS”) to Metamark Genetics, Inc. for an undisclosed amount. As previously announced Endo Health Solutions is pursuing strategic alternatives for HealthTronics, Inc. and believes the sale of HLS creates progress in this process.
Metamark is at the leading edge of research in cancer prognosis, which is a critical tool in determining appropriate cancer therapy. In the age of personalized medicine, particularly in oncology, Metamark’s proprietary multiplex proteomic platform has the potential to reshape the landscape in cancer diagnosis and therapy.
HLS provides anatomical pathology services primarily to the urology community. The HLS pathology labs are located in Georgia and Pennsylvania and provide laboratory and diagnostic services to urologists throughout the U.S., with client practices in 41 states.
In addition, HLS manages pathology laboratories for physician practice groups, provides administrative services to in-office pathology labs for practice groups, and provides pathology services to physicians.
“HLS is a recognized national reference lab providing specialized pathology services to the urology community with a reputation for quality,” said Shawn M. Marcell, president and CEO of Metamark Genetics. “We believe joining forces with HLS will be instrumental to our success as we commercialize ProMark, Metamark’s novel prostate cancer test.” Kelly Huang, PhD, President of HealthTronics, stated “Metamark has strong ambitions for growth, shares our commitment to improved patient outcomes, and is dedicated to continue to serve the needs of urologists and the patients for which they care.”
