InformedDNA, a St Petersburg, Florida-based provider of genetics services, received a growth investment of undisclosed amount.
NovaQuest Capital Management, L.L.C., a healthcare and life sciences focused private investment firm, partnered with TripleTree Capital Partners and Frist Cressy Ventures. In a related transaction, CIBC also provided a flexible credit facility.
The company will use the capital to continue scaling its technology-enabled, genetics expert services, as well as to expand its staff of genetic counselors. They will continue to be led by the current management team under the direction of Chief Executive Officer, David Nixon.
Founded in 2007, InformedDNA offers services such as clinical genetic counseling, genetic testing utilization management, genetic testing payment integrity, and expert genetics clinical trial support to guide providers’ clinical decisions, help shape clinical trial processes and enable insurers to understand and craft policies to guide ordering genetic tests in a cost-effective manner.
The company currently employs more than 85 genetic counselors.