American Laboratory Products Company Merges with GeneProof

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Apr 21, 2022, 08:53 ET

SALEM, N.H. and BRNO, Czech Republic, April 21, 2022 /PRNewswire/ -- American Laboratory Products Company, Ltd. ("ALPCO"), a specialty in vitro diagnostics company, today announced a merger with GeneProof a.s. ("GeneProof"), a leading molecular diagnostics company based in Brno, Czech Republic. The combination creates a global market leader in the diagnostic products market, with broad capabilities spanning novel immunoassay testing kits, real-time PCR testing products, and automated laboratory instrumentation solutions.

GeneProof was founded over 15 years ago by Drs. Radek Horvath and Milos Dendis and is an established market leader in the molecular diagnostics field. Both Founders will remain with the merged company and continue as significant shareholders. GeneProof is the largest producer of PCR reagents in the Czech Republic and distributes its portfolio of more than 70 CE-marked molecular diagnostic tests and instruments throughout Europe, Africa, the Middle East, and South America. Products are primarily focused on the infectious and genetic diseases. With a strong emphasis on quality, GeneProof offers technologically advanced real-time PCR kits and user-friendly automated instrument platforms for both nucleic acid extraction and sample-to-answer testing that meet the diverse throughput needs of laboratories.

The combined company is majority owned by Ampersand Capital Partners ("Ampersand"), which first invested in ALPCO in 2020.

"ALPCO and GeneProof have both earned great reputations in their respective markets, ALPCO in immunodiagnostics and GeneProof in molecular diagnostics," said Sean Conley, President and CEO of ALPCO. "The combination of the two companies transforms both organizations into a more complete solutions provider and aligns well with ALPCO's strategy of investing in proprietary automated platforms."

Radek Horvath, CEO of GeneProof, added, "This strategic connection represents a new chapter in the life of both companies. It will facilitate the entry of GeneProof products into the US market, and similarly, expand the presence of ALPCO products into the EU and around the world. The combination of deep knowledge in the field of molecular diagnostics as well as in the field of immunological diagnostics will bring a significant synergistic effect. The two merged companies intend to use each other's technological experience and rely on the support of our strong partner, Ampersand, for further development."

Eric Lev, General Partner at Ampersand and Board member of ALPCO added, "I look forward to working with Sean, Radek, and Milos as we build the combined company into a fully integrated global leader in the field of diagnostics and commercialize GeneProof's fully automated real-time PCR offerings in the North American market."

About ALPCO
American Laboratory Products Company (ALPCO) was founded in 1991 as an importer and distributor of immunoassay-based products for the North American life science markets. The company has since evolved into a leading producer of novel immunodiagnostic reagents for specialty testing laboratories. In September of 2020, ALPCO announced the recapitalization of the company by Ampersand Capital Partners. Ampersand's investment was sought to accelerate ALPCO's global growth initiatives, including the expansion of the company's diagnostics reagent offering, broadening the company's geographic presence, and fueling technological advancement. For additional information, please visit www.alpco.com.

About GeneProof
Based in Brno, Czech Republic, GeneProof a.s. was founded in 2005 by Dr. Radek Horvath and Dr. Milos Dendis. GeneProof offers a wide range of in vitro molecular diagnostic products, primarily focused on the infectious diseases and genetic mutations. The Company has established a portfolio of more than 70 CE-marked PCR test kits and a proprietary instrumentation offering to serve laboratories of all sizes. GeneProof's sales and distribution network covers more than 60 countries around the world. For detailed information see www.geneproof.com.

About Ampersand Capital Partners
Founded in 1988, Ampersand is a middle market private equity firm with more than $2 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm's core healthcare sectors. Additional information about Ampersand is available at www.ampersandcapital.com.

SOURCE Ampersand Capital Partners