microbiological pipette in the genetic laboratory
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Latham & Watkins Advises GTCR on PathGroup Recapitalization

May 13, 2022
Multidisciplinary deal team led from Chicago represents GTCR in majority investment in one of the largest independent laboratories in the US.

GTCR, a leading private equity firm, has announced that it has made a majority investment in PathGroup Holdings LLC (PathGroup or the Company) in partnership with founder and CEO Ben Davis, MD and the PathGroup management team. As part of GTCR’s Leaders Strategy™, Dave King, the former Chairman and CEO of Labcorp, will join the PathGroup Board as Chairman, partnering with Dr. Davis and GTCR to further invest in PathGroup’s capabilities across the pathology, molecular, and genetic diagnostics modalities. Pritzker Private Capital and Vesey Street Capital Partners will also be retaining a minority ownership stake in the Company alongside GTCR and the PathGroup management team. 

Latham & Watkins LLP advised GTCR in the transaction with a corporate deal team led by Chicago partners Bradley Faris and Jason Morelli, with associates Sean Parish, Jacob Saslow, Grace Kim, Micah Kamoe, and Byron Patton. Advice was also provided on tax matters by New York partner David Raab, with associate Ronald Moore; on benefits and compensation matters by New York partner Bradd Williamson and Chicago counsel Sandhya Chandrasekhar, with associates Max Raskin and Annie Anderson; on antitrust matters by San Diego partner Hanno Kaiser, Washington, D.C. counsel Britton Davis, and Bay Area counsel Jason Daniels, with associate Elise Nelson; on labor matters by Chicago partner Nineveh Alkhas, with associate Ana Cenaj; on intellectual property matters by New York partner Jeffrey Tochner, with associates Dewey Kang and Zachary Shufro; on private equity finance matters by Washington, D.C. partners Jennifer Van Driesen and Benjamin Berman, with associates Jennifer Kent, Khushboo Agarwal, Rebecca Lamb, Jake Goodman, and Kevin Schoonveld; and on environmental matters by Los Angeles counsel Joshua Marnitz, with associate Nick Eberhart.