MedVenture Health Acquires Canyon Labs in Move to Bolster Services
In a strategic move to further enhance its service offering, MedVenture Health has announced the acquisition of Canyon Labs to add regulatory and laboratory testing services to its deep portfolio.
SALT LAKE CITY, May 19, 2023 (Newswire.com) - MedVenture Health, a specialized private investment firm devoted to the advancement of medical devices, technologies, and services, has announced its acquisition of Canyon Labs, a world-class, FDA-approved scientific and regulatory service provider.
Canyon Labs' work is informed by more than 50 years of best-in-class experience and education across several verticals, including laboratory testing of dietary supplements, cosmetics, pharmaceuticals, medical devices, and more. With the newest technologies and equipment in microbiological, physical chemistry, medical device and pharmaceutical laboratory testing, its state-of-the-art 17,000-square-foot facility, and its team of highly skilled scientists, MedVenture believes that Canyon Labs has positioned itself to become a leader in the regulatory and laboratory testing spaces.
"Our commitment to bringing the very best in regulatory and testing services to the health and wellness community made this partnership with MedVenture an easy decision for our business," said Dr. Haven McCall, Chief Executive Officer of Canyon Labs. "This acquisition by MedVenture will allow us to have the access to grow our reach globally. We are proud to be aligned with a name synonymous with quality and growth in the medical and health space and to be backed by their unique pillars of support."
This strategic acquisition for MedVenture will be a new pillar of growth, further expanding upon the breadth of services provided by the business today. "Our approach to investing is unique in the sense that we advance healthcare products, services, and technologies that address unmet medical needs. We do this by providing expertise and capital resources to assist in achieving growth objectives that will significantly enhance value," said Travis Sessions, Managing Partner of MedVenture Health. "The acquisition of Canyon Labs further enhances our offering to the industry and our portfolio companies alike to accelerate the quality and production of medical products and regulatory services so desperately needed in the space."
About MedVenture — Located in Salt Lake City, Utah, and comprised of leading experts in the medical industry, MedVenture partners with entrepreneurs, physicians, and management teams to advance healthcare products, services, and technologies. MedVenture Health makes investment decisions driven by a fundamental assessment of market, technology, intellectual property, regulatory, and commercial risks. Capitalizing on our investment team's broad skillset, we invest across the life sciences, including seed and venture financings of development-stage companies, structured debt and royalty deals, and buyouts of developing companies. With in-house support departments consisting of legal, accounting, operations, human resources and marketing, MedVenture brings a uniquely different approach to partnership and investment to drive growth and development.
Source: MedVenture Health