Should I stay or should I go? This is the main question that laboratory diagnostic business owners are asking themselves in this “post covid world.” It’s not that Covid doesn’t exist anymore, it’s merely a fact that lab owners are having to pivot and determine what strategic direction to move into next. Healthcare has rapidly changed and patients are looking for ways to be treated in the comfort of their own homes.

During this rapidly changing healthcare environment, Advanced Strategic Partners is one company that has listened to the needs of its customers and has made some significant enhancements to address the needs of lab owners.

Advanced Strategic Partners has been in business for 15 years, operating as a specialized Mergers and Acquisitions (M&A) firm that offers business valuations and transaction advisory services for the middle-market laboratory diagnostic industry. The company has managed over $2bn in transactions over that period, playing a significant role in the continued consolidation of the laboratory diagnostic sector.

One of the key inflection points for the company in 2022 was a partnership that was struck with Take Charge LLC, which enabled the firm to expand its service offering to include strategic planning, operational enhancements, and board advisory services to name a few. Led by Gary Huff, former CEO of LabCorp Diagnostics and Baylor Genetics, this partnership has accelerated the company’s growth nationwide. Having this complete suite of services under one roof was one of the primary reasons that the company was recognized by Financial Services Review when making the award of “Company of the year in 2022.”

The additional services provided through Advanced Strategic Partners affiliation with Take Charge include;

Broad and Deep Experience

Mr. Huff grew up in the laboratory diagnostic industry and has held multiple operations and business development positions. He has experience that spans over 30 years in the industry in multiple positions. He has seen what works, what does not and he provides our partners with a broad and deep expertise to provide insights not available from other firms.

Credibility and Unmatched Insights

Mr. Huff has been the CEO of the largest commercial lab (LabCorp Diagnostics) - he has been inside the board room and understands commercial buyers perspectives in every situation. Not only has he run a $7B commercial laboratory, but he was intimately involved in strategy development, M&A, negotiations with managed care organizations, and creating solutions for overcoming industry challenges.

Multiple Perspectives

Mr. Huff has been the CEO of a large Genetics company and the COO of a regional clinical laboratory that was owned by health systems and private equity. He was also the CEO of a small regional laboratory that faced significant industry challenges like many of our clients. He is currently on multiple boards of lab related companies and he understands the business from multiple perspectives, as a CEO, Operations Leader, Health System, Private Equity and publicly traded company. From a competitive prospective, It would be very difficult to match Huff’s deep and breadth of experience, knowledge, industry relationships and innovative insights.

ASP helps its clients to maximize value and find the right transaction for their unique circumstances, opening up the next chapter for their businesses.

ASP launched an additional partnership in 2023 with industry leader Rick Cooper. Rick was the former Chair of one of the country’s leading lab legal practices with over 40 years of experience. This experience includes clinical, toxicology, AP, Molecular and hospital based laboratories. In addition, ASP has partnered with Olive & Birdie to provide all of their social media and marketing initiatives. Combined, these newly formed partnerships provide the laboratory industry with a competitive advantage that no other group currently provides.

Co-Founder and Managing Director Melissa Butterworth is also the author of ‘The End Game: A Laboratory Owner’s Guide to Maximizing Valuation’. This book has over 180 5-star reviews on Amazon and is the culmination of years of experience working directly with laboratory owners and related stakeholders. It provides a comprehensive outlook on the entire M&A process, with all its advice catered specifically to laboratory owners themselves.

By leveraging these tried-and-tested principles, ASP helps its clients to maximize value and find the right transaction for their unique circumstances, opening up the next chapter for their businesses.

About Advanced Strategic Partners

Advanced Strategic Partners (ASP) is a specialized Mergers and Acquisitions (M&A) firm that provides revenue marketing programs, business valuations, and transaction advisory services to the middle-market laboratory diagnostic industry. Founded in 2007, ASP provides specific laboratory industry expertise, market knowledge, and professional insights to maximize valuations and facilitate successful transactions. Typical clients include hospital systems, mid-sized clinical, anatomical pathology, molecular and toxicology laboratories.

For more information, visit their website at http://advancedstrategicpartners.com/ and www.endgamelab.com/.

Contact
Melissa Butterworth, CEO
m18butterworth@advancedstrategicpartners.com
+1 954 734 4345