CHICAGO, Oct. 22, 2013 /PRNewswire/ — Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, announced today that it has sold its anatomic pathology company, PLUS Diagnostics (“PLUS”), to Miraca Life Sciences. Water Street built PLUS into a national leader following its investment in the Irvine, Calif.-based company. Its sale of PLUS to Miraca Life Sciences makes Miraca the largest independent anatomic pathology laboratory company in the United States.
Water Street acquired PLUS in 2006 when it was a regional laboratory. It invested its team’s industry expertise and network of resources to transform PLUS into a national leader offering a comprehensive menu of specialty diagnostic testing and consultative services. Working with CEO David Pauluzzi, Water Street supported PLUS with opening bi-coastal laboratories, introducing innovative new tests and recruiting an experienced team of nationally recognized pathologists. In seven years, PLUS tripled its laboratory capacity and expanded its capabilities into dermatopathology, hematopathology, and gastrointestinal and genitourinary pathology to serve a growing base of U.S. customers.