Contact: Chris Jahnle
610-407-4024 x12
Aurora Diagnostics Accelerates Growth in Year Two
Provides liquidity and cutting-edge technology to 13 pathology laboratory business partners in nine states
Palm Beach Gardens, Florida (February 9, 2009). Aurora Diagnostics, LLC, the nation’s leading national platform for acquiring and integrating anatomic pathology laboratories, has experienced accelerated growth in its second full year of operations.
According to James C. New, Aurora’s Chairman and CEO, the company generated revenues in excess of $150 million during 2008, representing a nearly 140-percent increase year-over-year.
Since inception, Aurora has completed 13 acquisitions of pathology laboratory businesses in nine states throughout the U.S., and today employs 75 pathologists and more than 750 non-pathologist support personnel.
“Despite today’s daunting economic environment, Aurora has continued to make acquisitions,” says New. “We partner with established, high-quality pathology practices located in markets where we have a presence, as well as with larger, pedestal practices in new regions. We also seek acquisitions that offer complimentary specialized diagnostic services not currently provided by our partner laboratories.”
A partnership with Aurora provides pathology laboratory owners with liquidity, helping them achieve their personal long-term financial goals. The partnership also provides information technology and sales support to help its partners compete successfully in their local markets.
“Our goal is to help partners grow, through streamlined technology that helps them serve and retain existing clients, and proactive sales support that enables them to attract new business,” says New. “We succeed when our partners succeed, and we are dedicated to improving their business results.”
Information technology
Aurora offers a suite of innovative connectivity solutions--including doc2MD, a powerful electronic medical record software for dermatology practices--that provide fast and convenient access to patient laboratory reports. These solutions streamline workflow with features including integration with physicians’ Practice Management Systems (PMS) and Electronic Medical Record Systems (EMR); intelligent data delivery process; proactive management of electronic environment; and customized practice reporting
Sales support
In addition, Aurora has built a national sales force committed to helping its partners attract new business. A dedicated sales person can dramatically increase growth and form new client relationships--without distracting pathology professionals from their medical responsibilities.
About Aurora Diagnostics
Aurora Diagnostics, LLC, of Palm Beach Gardens, FL, is a specialized laboratory company. The company was founded in 2006 with an investment from Summit Partners, a private equity and venture capital firm, as well as GSO Capital Partners LP, an investment advisor. Aurora serves as a platform for the acquisition and integration of anatomic pathology and other diagnostic laboratory businesses across the United States.
Aurora Diagnostics provides liquidity, financial upside, administrative resources, and accelerated growth opportunities to laboratory owners while allowing them to maintain their entrepreneurial approach and operational independence. The company also provides a bundle of services such as sales and marketing, information and medical technology, accounting and tax, risk management, managed care contracting and follow-on acquisitions to help laboratory owners perform their core business more efficiently and effectively. Visit www.auroradx.com for more information.
Contact Email: cjahnle@haverfordcapital.com
