Aegis Sciences Corporation, a Nashville, Tennessee-based provider of forensic toxicology testing services, received a majority investment from Metalmark Capital, a New York-based private equity firm.
Debt financing in support of the transaction, whose amount remained unsdisclosed, was provided by Madison Capital Funding LLC, Regions Bank, and Pinnacle National Bank.
Following the investment, Aegis Sciences Corporation founder, Dr. David Black, will remain a large shareholder in Aegis Sciences Corporation and continue in his role as CEO.
The capital will allow the company to continue to grow the business in its primary markets including testing services for pain clinics, anti-doping services for sports teams and forensic testing for crime labs.
Founded in 1986 as Vanderbilt University’s sports anti-doping laboratory, Aegis Sciences Corporation is now a forensic sciences company providing toxicology services to pain management physicians, professional sports leagues, over 100 colleges and universities, medical examiner offices, state and local government agencies, courts of law, and Fortune 500 corporations throughout the U.S.