Ropes & Gray represented GHO Capital Partners in its investment in Biocare Medical, a provider of cancer-focused diagnostic reagents and instruments.
Hogan Lovells advised Biocare and its existing investor, Denver-based Excellere Partners, which will remain a “significant” partner with London-based GHO, according to a statement.
GHO said Concord, Calif.-based Biocare has grown steadily and rapidly since its founding in 1997, operating in a market forecast to be worth an estimated $3.5 billion in five years.
The company is poised for faster growth as aging populations contribute to a higher prevalence of chronic disease, according to the statement. Also, a shift to precision medical treatment fuels demand for biomarker testing and diagnostics.
Biocare plans to use the new investment to expand its core reagent focused product and service portfolio and expand development and penetration of its instrument offering, the statement said.
To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com
To contact the editor on this story: Chris Opfer in New York at copfer@bloomberglaw.com; John Hughes in Washington at jhughes@bloombergindustry.com
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