Pharos To Acquire Stake In TechLab From Alere - Quick Facts

(RTTNews) - Pharos Capital Group, LLC, a private equity firm based in Dallas and Nashville, announced it has acquired a controlling position in TechLab, Inc. Pharos is acquiring its stake from Alere Inc. (ALR) as well as from TechLab's founders Tracy Wilkins and David Lyerly, who will maintain a minority investment.

TechLab is a developer and manufacturer of rapid, non-invasive diagnostic tests for gastrointestinal disease. TechLab's patented QUIK CHEK technology delivers results in less than 30 minutes. The company is a market leader in testing for the C. difficile bacteria. TechLab also test for other gastrointestinal conditions, including Inflammatory Bowel Disease, Irritable Bowel Syndrome, and E. coli.

Alere will remain the principal global distributor of TechLab products following the transaction.