Atherotech bought by private equity firm

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Behrman Capital, a private equity investment firm based in New York City and San Francisco, has acquired Atherotech, a Birmingham, Ala.-based provider of cardiometabolic testing services that offers the VAP (Vertical Auto Profile) advanced lipid profile test.

The transaction closed on Dec. 23, 2010. The equity capital for the acquisition came from Behrman Capital IV, with debt financing provided by MidCap Financial.

Developed by Jere Segrest, MD, director of the Atherosclerosis Research Unit at the University of Alabama in Birmingham, Atherotech’s patented VAP test provides measurements of the lipid subclasses that cause cardiovascular disease.

Robert Flaherty, an operating partner at Behrman Capital, will serve as chairman of the board of directors at Atherotech. Flaherty has more than 35 years of operating experience in the healthcare field, with experience in the clinical lab environment. He previously served as president and CEO of Athena Diagnostics, a Behrman Capital portfolio company that was sold to Fisher Scientific in 2006.

Goodwin Procter acted as legal adviser to Behrman Capital for the transaction. Bradley Arant Boult Cummings acted as legal adviser to Atherotech. Morgan Keegan & Company’s Shattuck Hammond healthcare investment banking division acted as financial advisor to Atherotech.