Solis Medical Laboratories Acquired by Denovo Diagnostics, LLC
Benchmark International successfully facilitated the sale of Solis Medical Laboratories.
Press Release (ePRNews.com) - AUSTIN, Texas - Feb 10, 2018 - Benchmark International has successfully facilitated the transaction between Solis Medical Laboratories (SML), Inc. and De Novo Diagnostics, LLC. SML is an independent medical laboratory that offers clinical laboratory testing, phlebotomy, and courier services. De Novo Diagnostics offers services in the field of companion diagnostics, therapeutic drug monitoring and molecular diagnostics in autoimmune diseases and cancer biology.
With experience in the field, De Novo Diagnostics was looking for an opportunity to form a platform business in the Houston area, and SML presented that opportunity. Benchmark International worked alongside SML to obtain the best result. Founder, Cleve Stoy, commented: “Benchmark’s market resourcefulness quickly allowed our buyer to find us and within just a few weeks of going to market, we entered into an LOI [letter of intent] with our buyer. Although it turned out to be somewhat of a difficult negotiation process, with several points of derailment, at a particularly crucial point in which an impasse seemed ready to kill the deal altogether, Benchmark stepped up and facilitated a conference meeting that saved the deal. Thanks to Benchmark International, we were able to achieve our goal of the sale of our company by year-end. It turned out to be a relatively quick deal.”
Benchmark International Senior Associate Luis Vinals stated “Cleve and Margie were wonderful clients to work with. They were engaging and always responsive to market inquiries. Our team’s market research, dedication, and effort resulted in sourcing a buyer that met our client’s expectations. Not only was the buyer able to meet our clients’ expectations, but the deal allowed Cleve and fhusv Margie to exit their business within their desired timeframe.”
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