GTCR to Acquire Majority Stake in Lab Company from Pritzker Private Capital

Posted on 05/13/2022

Private equity firm GTCR made a majority investment in PathGroup Holdings LLC in partnership with founder and CEO Ben Davis, MD and the PathGroup management team, who have made a substantial reinvestment in the company. Pritzker Private Capital and Vesey Street Capital Partners will also be retaining a minority ownership stake in the company alongside GTCR and the PathGroup management team.

Based in Nashville, Tennessee, PathGroup is one of the largest independent laboratories in the United States. Founded in 1965, PathGroup provides anatomic pathology, digital pathology, molecular diagnostic, and clinical testing services to physician groups and hospital systems across the Southeast and Midwest. PathGroup supports more than 4,000 physician practices and more than 200 hospital customers with diversified lab testing services, high-touch customer service and fast turnaround times.

Latham & Watkins provided legal counsel to GTCR. BofA Securities and Nomura Securities served as financial advisors and Kirkland & Ellis served as legal advisor to PathGroup.

Pritzker Group Private Capital recapitalized PathGroup in 2016. In March 2020, PathGroup announced that the company would begin offering COVID-19 testing for individuals. Illinois Gov. J.B. Pritzker co-founded Pritzker Group Private Capital with his brother Anthony.

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