Principle Health Systems announced on November 20 the strategic acquisition of BioStat Laboratory for an undisclosed price. Founded in 2017, BioStat Laboratory provides comprehensive laboratory testing and mobile imaging in the Dallas MSA.
Principle Health Systems is a healthcare service firm that offers medical diagnostics, pharmacy and laboratory testing services. The company specializes in mobile laboratory services for long-term care and home health patients, Principle Health Systems currently covers six major markets in Texas.
James Dieter, CEO of Principle Health Systems, expressed enthusiasm about the acquisition, stating, “We are thrilled to welcome BioStat Laboratory into the Principle Health Systems family. This strategic move allows us to establish a full-service laboratory in the heart of Dallas-Fort Worth, enhancing our capabilities to serve the community effectively. Our goal is to leverage improved technology and introduce bedside STAT testing to provide a seamless and advanced healthcare experience.”
The acquisition aligns with Principle Health Systems’ mission to revolutionize laboratory services in Texas, accelerating its growth in the Dallas MSA. According to data captured in the LevinPro HC database, this acquisition marks 111th Laboratories, MRI and Dialysis transaction of the year, including 25 in the laboratories subsector.
