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Welsh, Carson, Anderson and Stowe exits Solstas in $570m deal

22 Jan 2014

exit 15_sqWelsh, Carson, Anderson and Stowe has exited its investment in commercial laboratory company Solstas Lab, which was sold to Quest Diagnostics for $570m.

Solstas is based in Greensboro, North Carolina and has operations in nine US states.

The deal is expected to close in the first half of this year, Quest said in a statement.

Solstas CEO David Weavil said, “Strategic partnerships between innovative laboratory providers is of critical importance during these changing times and most often result in superior, value-based solutions for customers.

“We believe (Quest) is the right organization to help Solstas enhance and extend its services for physician practices, hospital systems and, most importantly, their patients.”

Last month it was reported that Welsh Carson was raising a $3bn fund.

The firm is expecting to hold a first close for WCAS XII in July this year, according to PeHUB.

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