St. Cloud Capital has made a growth capital investment in Integrated Diagnostic Services (IDS) to support IDS’ acquisition of Core Analytics Lab & Radiology (Core), a provider of mobile radiology and laboratory services across California.
The investment was made from St. Cloud Capital’s fourth fund, which the firm said has committed capital of $236 million. Financial terms of St. Cloud’s investment were not disclosed.
IDS’ acquisition of Core is expected to expand IDS’ service capabilities by adding in-house laboratory services, which the company believes will improve route density and increase responsiveness to patients. Kelly McCullum, CEO of IDS, said the integration of Core strengthens the platform and enhances the company’s ability to deliver diagnostic services more efficiently.
Support: St. Cloud Capital said it partnered with HCAP Partners, Southfield Mezzanine, and California Bank & Trust in providing capital to facilitate the transaction. K&L Gates LLP served as counsel to St. Cloud Capital.
KEY QUOTES:
“The addition of Core further bolsters our platform by adding in-house laboratory services and capabilities, improving route density and responsiveness to patients.”
Kelly McCullum, CEO, Integrated Diagnostic Services
“The company’s focus on quality care and access for patients is consistent with St. Cloud’s investment approach, and we look forward to collaborating with management on future growth.”
Ben Hom, Managing Partner, St. Cloud Capital
