AmeriPath
IPO 1997
Acquired by Quest Diagnostics 2007
"Summit helped us successfully execute our acquisition strategy, providing invaluable expertise along with capital."
Revenue growth over Summit’s 6-year investment period
Pathology practices acquired
Completed IPO in 1997
Revenue growth over Summit’s 6-year investment period
Pathology practices acquired
Completed IPO in 1997
Founded by physicians, AmeriPath specialized in dermatopathalogy, the review and interpretation of human tissue biopsies. While the company had developed a strong and loyal referring physician customer base in the southeastern United States, the founders aspired to expand the business to a national scale through the consolidation of the fragmented industry. The company turned to Summit for financing and strategic guidance.
How Summit Partners Helped
- Provided growth equity capital, subordinated debt and arranged for a bank line of credit
- At the founders’ request, recruited a seasoned healthcare executive as CEO
- Helped build an independent board of directors
- Led several bank financings to help facilitate a successful acquisition strategy
AmeriPath completed its IPO in 1997, and Summit exited the investment in 2000. The company continued to grow rapidly, expanding across the United States and broadening its services to offer a range of anatomic pathology laboratory testing and information services. In 2007, AmeriPath was acquired by Quest Diagnostics for $2 billion.
The Portfolio Company Executive quoted herein did not receive compensation for any statements regarding Summit Partners. However, since AmeriPath is a former portfolio company of Summit, this individual did receive general compensation in connection with his employment by the company. In addition, this individual is not an investor in a Summit fund but may have conflicts arising from his past role with AmeriPath due to the company’s relationship with Summit.
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