US BioTek Laboratories Acquires RealTime Laboratories
Pike Street Capital backs growth investment to expand services, accelerate development
Seattle, Wash. – March 20, 2024 – Pike Street Capital, LLC (“Pike Street”) portfolio company US BioTek Laboratories (“US BioTek”) announced a strategic investment in RealTime Laboratories (“RealTime”). Like US BioTek, Dallas,TX-based RealTime is a CAP and CLIA accredited clinical laboratory, with additional capabilities that will expand the testing portfolio and geographic footprint of the combined organization.
Founded in 2005, RealTime specializes in testing for and identifying hazardous toxins from mold (mycotoxins) in humans and homes. It has earned a reputation as a pioneer in the field of mycotoxin testing. The acquisition will enable US BioTek to incorporate RealTime Laboratories’ state-of-the-art technology and expertise into its offerings, while accelerating the development of new diagnostic tests.
"We are excited to welcome RealTime to the US BioTek family,” said Jack Frausing, CEO of US BioTek Laboratories. "By joining forces, we can provide our clients with a more comprehensive suite of testing services. It will also position us for continued growth, innovation, and expansion of our test portfolio in the years to come. We are confident that it will benefit our clients, their patients, and our employees."
Paul Caragher, Partner at Pike Street, stated “RealTime’s expertise in mycotoxin testing complements US BioTek’s core food sensitivity and allergy testing portfolio, expanding the set of tools healthcare practitioners have to diagnose their patients’ symptoms, and addressing a growing concern for toxins among consumers. With the expanded testing options and broader geographic footprint, the business can both better serve existing clients and accelerate the growth of new clients. We’re excited to see their progress in the upcoming year.”
The two laboratories will continue operations at their respective locations in Seattle and Dallas.
Pike Street Capital invests in middle market companies with leading market positions, strong management teams, and discernible growth drivers. The firm targets sectors serving professional customers and B2B growth where it has relevant investing and operating experience, including industrial technology, specialty manufacturing, distribution & logistics, and business services. The firm’s $237M over-subscribed inaugural fund closed in November 2020.
About US BioTek Laboratories
US BioTek Laboratories is a leading provider of diagnostic testing services committed to delivering accurate and reliable results to healthcare professionals and patients. With a focus on innovation and excellence, USB continues to expand its capabilities to meet the evolving needs of the healthcare industry.
More information is available at https://www.usbiotek.com.
About RealTime Laboratories
RealTime Laboratories is a pioneer in mycotoxin testing, offering the most accurate and comprehensive tests on the market. With a commitment to advancing medical testing services, RealTime has played a crucial role in enhancing diagnostic capabilities for healthcare professionals and improving patient outcomes.
More information is available at www.realtimelab.com.