Endo and Metamark Announce Sale of HealthTronics Laboratory Solutions Metamark to Offer ProMark™ Prostate Cancer Prognostic Test Through Established Uropathology Lab with National Sales Force
MALVERN, Pa. and CAMBRIDGE, Mass., Aug. 12, 2013 /PRNewswire/ -- Endo Health Solutions (Nasdaq: ENDP) today announced that its wholly owned subsidiary, HealthTronics, Inc. has entered into a definitive agreement to sell its anatomical pathology business, HealthTronics Laboratory Solutions, Inc., ("HLS") to Metamark Genetics, Inc. ("Metamark") for an undisclosed amount. As previously announced Endo Health Solutions is pursuing strategic alternatives for HealthTronics, Inc. and believes the sale of HLS creates progress in this process.
Metamark is at the leading edge of research in cancer prognosis, which is a critical tool in determining appropriate cancer therapy. In the age of personalized medicine, particularly in oncology, Metamark's proprietary multiplex proteomic platform has the potential to reshape the landscape in cancer diagnosis and therapy.
HLS provides anatomical pathology services primarily to the urology community. The HLS pathology labs are located in Georgia and Pennsylvania and provide laboratory and diagnostic services to urologists throughout the U.S., with client practices in 41 states. In addition, HLS manages pathology laboratories for physician practice groups, provides administrative services to in-office pathology labs for practice groups, and provides pathology services to physicians.
"HLS is a recognized national reference lab providing specialized pathology services to the urology community with a reputation for quality," said Shawn M. Marcell, president and CEO of Metamark Genetics. "We believe joining forces with HLS will be instrumental to our success as we commercialize ProMark™, Metamark's novel prostate cancer test."
Kelly Huang, PhD, President of HealthTronics, stated "Metamark has strong ambitions for growth, shares our commitment to improved patient outcomes, and is dedicated to continue to serve the needs of urologists and the patients for which they care."
HealthTronics has been a national provider of urological and interventional oncology services and products for more than 20 years. Headquartered in Austin, Texas, with anatomical pathology laboratories in three states, the company provides the most advanced technology and premiere support systems to urologists, interventional radiologists, hospitals, surgery centers and clinics across the United States. HealthTronics is an operating company of Endo Health Solutions Inc.
Endo Health Solutions Inc. (Endo) is a U.S.-based specialty healthcare company with four distinct business segments that are focused on branded and generic pharmaceuticals, devices and services, each providing quality products to our customers while improving the lives of patients. Through our operating companies – AMS, Endo Pharmaceuticals, HealthTronics and Qualitest – Endo is dedicated to finding solutions for the unmet needs of patients. Learn more at www.endo.com.
Metamark Genetics, Inc. ("Metamark") is a privately held biotechnology company founded in 2007 to develop new function-based prognostic and diagnostic tests aimed at improving cancer care. The company's proprietary genomic and proteomic discovery platforms have yielded significant discoveries in several disease areas, including prostate, colon and breast cancers. During 2013, Metamark plans to commercialize ProMark™ – its lead prostate cancer prognostic test – through its Cambridge, MA CLIA-certified laboratory. For more information, please visit the company's Website at www.metamarkgenetics.com. Metamark™ and ProMark™ are trademarks of Metamark Genetics, Inc.
SOURCE Endo Health Solutions