ST. LOUIS--(BUSINESS WIRE)--Advantage Capital portfolio company Cleveland HeartLab, Inc. announced its acquisition by Quest Diagnostics, one of the largest laboratory service providers in the country. Concurrent with the acquisition, Cleveland HeartLab and Quest Diagnostics announced Quest’s commitment to maintain Cleveland HeartLab’s clinic location in Cleveland’s budding Midtown area, while also establishing the clinic as the “first national center of excellence in diagnostic information services” in the nation.
Advantage Capital is proud to have supported the innovative work of Cleveland HeartLab at critical junctures in its development. “Expanding the reach and impact of the life-saving work that Cleveland HeartLab has perfected through use of the Quest delivery system, which serves ‘one in three adult Americans and half the physicians and hospitals in the United States’ in the detection of disease, is exactly the kind of double bottom line impact that Advantage Capital looks for when investing,” stated Steve Stull, founder of Advantage Capital.
“Where, as here, we can help build the operational strength of a company, freeing it to focus on improving overall quality of life, the investment is an all-around win. Any initial risk far outweighs the overall good,” stated Christopher Harris, senior vice president at Advantage Capital and leader of the Advantage Capital Cleveland HeartLab investment team.
About Advantage Capital
Advantage Capital (http://www.advantagecap.com/) provides equity and debt financing to established and emerging companies located in communities underserved by conventional sources of capital. Since 1992, the firm has invested more than $2.6 billion in companies from a diverse array of industry sectors, including manufacturing, technology and business services, in both urban and rural areas. The company has offices in New Orleans, St. Louis, New York, Austin and other locations.
About Cleveland HeartLab
Cleveland HeartLab Inc. (CHL) is the premier cardiovascular disease (CVD) Management Company with a comprehensive array of propriety tests focused on improving the early identification of those with CVD risk. In addition to its industry leading approach to inflammation testing, CHL manages a robust R&D program to accelerate the clinical use of scientifically proven and medically relevant biomarkers. Formed in 2009 as a spin-off from the Cleveland Clinic, CHL offers its testing to thousands of leading clinicians focused on health and wellness as well as corporate wellness plans through its CAP accredited and CLIA-certified clinical lab. With the goal of improving CVD risk assessment, CHL's unique testing provides a more complete picture of CVD risk allowing clinicians to deploy personalized medical programs and interventions to reduce the overall risk of CVD, with a specific focus on reducing the risks of inflammation.
CHL provides specialized testing to many of the leading clinicians focused on health and wellness, including groups like MDVIP, a national network of nearly 1,000 primary care physicians.
Advantage Capital is an investment adviser registered under the Investment Advisers Act of 1940. Registration does not imply a certain level of skill or training. This release is not intended to be an advertisement concerning investment advisory services or an offer to sell, or a solicitation of an offer to purchase an interest in any security. Advantage Capital is an equal opportunity provider.
The investments referenced in this document represent only a sample of companies that have received investment capital from Advantage Capital-related entities. For a complete list of such companies, please see our website at advantagecap.com. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the securities highlighted herein or contained in any other information provided by Advantage Capital. Past performance is no guarantee of future results.