Ampersand Ventures Invests in Signature Genomic Laboratories

SPOKANE, Wash.--(BUSINESS WIRE)--Ampersand Ventures, a private equity firm focusing on investments in the health care and industrial technology sectors, has acquired a stake in Signature Genomic Laboratories, LLC. In conjunction with the investment, Ampersand partners David J. Parker and Herbert H. Hooper, Ph.D. have been appointed to Signature’s board of directors. They join current board members Lisa G. Shaffer, Ph.D., Signature’s president and CEO; Bassem A. Bejjani, M.D., Chief Medical Officer of Signature; and Ryland “Skip” Davis, Chief Executive of Providence Strategic Ventures, a division of Providence Health and Services. Ampersand joins Sacred Heart Medical Center and Pathology Associates Medical Laboratories as investors in the company.

“With both Ampersand’s and Providence’s experience in the clinical laboratory services industry, we are in an excellent position to identify new partners for strategic growth.”

“We are very excited about Ampersand partnering with us because they will allow Signature to position itself favorably in this growing market,” said Dr. Shaffer. “With both Ampersand’s and Providence’s experience in the clinical laboratory services industry, we are in an excellent position to identify new partners for strategic growth.”

Mr. Parker commented, “We are pleased to have the opportunity to support Signature’s growth in the rapidly evolving market for microarray-based cytogenetic testing. Signature has established an attractive, growing business in this market through its strong clinical expertise, high-quality customer service and superior technology implementation. We look forward to working with Signature’s management team to help take the company to the next level.”

About Signature Genomic Laboratories, LLC

Signature Genomic Laboratories, founded in 2003 by Drs. Shaffer and Bejjani, provides state-of-the-art molecular cytogenetic diagnostic services. It was the first laboratory to provide microarray-based cytogenetic diagnostics with its proprietary SignatureChip^® and continues to be the leader in providing microarray-based chromosome analysis. Signature’s worldwide client base includes clinical geneticists, neurologists, pediatricians, neonatologists, obstetricians, and the research community. Signature is CAP accredited, CLIA certified, and licensed in the state of Washington. Additional information about Signature is available at www.signaturegenomics.com.