VOL. 133 | NO. 63 | Wednesday, March 28, 2018
Memphis Genotyping Company Acquired by Private Equity Firm
By Andy Meek
Transnetyx, a Memphis-based automated genotyping company that serves biomedical researchers around the world, has been acquired by a St. Louis-based private equity firm.
Thompson Street Capital Partners has struck a deal to acquire YX Genomics Holding Corp., the holding company of Transnetyx whose other wholly owned subsidiaries include YX Services and RobotYX. A Transnetyx spokesman said the purchase price is not being disclosed.
Transnetyx was founded in 2000 in Memphis and launched a fully automated genotyping system for detecting a variety of different mutations in animal research models.
A lab tech holds up a tray of DNA samples at the Memphis-based genotyping company Transnetyx. (Daily News File/Andrew J. Breig)
To date, the company has genotyped more than 18 million samples worldwide, and its mission is to help scientists accelerate their research by offering “fast, easy and accurate” genotyping services.
Transnetyx co-founder and president Bob Bean told The Daily News the company is in a position of growth thanks to “the dedication and drive of our incredible employees.”
“We’re excited about the future of Transnetyx and are honored to have the opportunity to continue being a steward of our customers’ genotyping needs,” he added. “With this acquisition, our mission is to continue providing the biomedical research community with more solution-based services that are in line with our mission of serving research and saving time.”
The company’s roots go back years in Memphis, back when former Memphis Mayor Dick Hackett once helped connect the then-young company to investors.
Thompson Street Capital Partners has acquired more than 100 companies across several industries, including in health care and life science services, software and technology services, and business services and engineering products.
Transnetyx says it looked for an ownership group that would support its existing culture. And the company’s current plans include investing in international growth, new services and software technology platforms while keeping the same focus on its mission of serving researchers.