Warburg Pincus LLC has agreed to invest in U.S. environmental testing and sanitation company Hygiena LLC, the private equity firm said on Wednesday, gaining exposure to a business that grew sharply over the past decade.
Warburg did not disclose the size of the investment. Since it was founded in 2001, Hygiena has become one of the larger providers of rapid testing technologies in the United States.
The company manufactures testing and sanitation products that it sells to industrial food processors, healthcare facilities, life science researchers and others in more than fifty countries.
Hygenia will join Warburg's portfolio of healthcare-oriented investments, which includes Accriva Diagnostics, China Biologic Products and Silk Road Medical.
Earlier this year, Warburg acquired a majority stake in DocuTAP, which provides healthcare technology for urgent care.
Houlihan Lokey served as financial adviser to Hygiena.
(Reporting by Carl O'Donnell in New York; Editing by Jeffrey Hodgson)