BelHealth Completes Asset Sale of General Genetics Corp.
FORT LAUDERDALE, Fla., Sept. 9, 2021 /PRNewswire/ -- September 9, 2021–BelHealth Investment Partners, LLC ("BelHealth") is pleased to announce that it has completed the sale of assets of the international division of General Genetics Corporation (GGC), a provider of relationship and clinical genetic testing services, to Genetic Technologies Limited ((ASX: GTG, NASDAQ:GENE) is a diversified molecular diagnostics company ("GTG"). The transaction was structured in a combination of cash and stock of GTG.
Founded in 2013, GGC, managed its non-US based direct-to-consumer (DTC) genetic testing business consisting of trademarks, websites, and a strong network of brand agents via two offices based in Malta and Australia. BelHealth acquired GGC to target the rapidly evolving genomics sector by acquiring three genetic testing laboratories in the US combined with the international direct-to-consumer business to complement its laboratory services. In May 2015, GGC sold the laboratory business and focused solely on the international business and its primary brand EasyDNA.
"We are pleased to see this transaction come to fruition" said Inder Tallur, Managing Partner, BelHealth. "We believe this acquisition will enable GTG to integrate EasyDNA into its overall "health and wellness" testing platform and position itself for future growth. As shareholders, we look forward to a successful partnership with GTG."
About BelHealth Investment Partners
BelHealth Investment Partners is a healthcare private equity firm focused on U.S. based lower middle market companies. BelHealth has a unique combination of investing, executive management and entrepreneurial experience. BelHealth acquires majority positions in entrepreneur-owned companies that it believes would benefit from its extensive operating and private equity investment expertise. The firm typically invests $20-$50 million per platform company. BelHealth is currently investing from Fund II, a $350 million fund.
Media Contact:
BelHealth:
Inder Tallur: (917) 975-6604, [email protected]
View original content:https://www.prnewswire.com/news-releases/belhealth-completes-asset-sale-of-general-genetics-corp-301372243.html
SOURCE BelHealth Investment Partners