Pharos Capital Acquires TechLab, Leading Developer of Gastrointestinal Disease Diagnostics

DALLAS & NASHVILLE, Tenn.--(BUSINESS WIRE)--Pharos Capital Group, LLC (“Pharos”), a private equity firm based in Dallas and Nashville, announced it has acquired a controlling position in TechLab, Inc. (“TechLab” or “the Company”), a developer and manufacturer of rapid, non-invasive diagnostic tests for gastrointestinal disease. Pharos is acquiring its stake from Alere, Inc. (NYSE:ALR) as well as from TechLab’s founders Dr. Tracy Wilkins and Dr. David Lyerly, who will remain with the Company and maintain a minority investment.