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
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
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
Contact: For Endo: Investors/Media, Blaine Davis, 484.216.7158, Investors,
Jonathan Neely, 484.216.6645; For Metamark: Gary A. Cohen, 617-583-1408
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