Ampersand was founded in the late 1980s and began investing in healthcare in the early 1990s. Today, Ampersand is focused exclusively on growth equity investments in lower middle market healthcare companies. We are typically the first institutional investor in founder-owned businesses, where we work with the entrepreneur to help take the company to the next level.We focus on EBITDA-positive companies that provide products or services within several key healthcare sectors, including pharmaceutical services, contract manufacturing, laboratory testing services, and laboratory products.

Protagen Protein Services (PPS) is a world leading CRO and recognized expert in analytical services in protein science and gene therapy products. Over 20 years of market experience and the comprehensive spectrum of validated analytical methods ensure the highest quality for customers in the pharmaceutical, biotech and life science industry. The company is an excellent partner for the biopharmaceutical industry worldwide to benefit from the most advanced, integrated and complete analytic services capabilities and platforms in biopharmaceutical development, from clone selection through drug approval to commercialization. In working together with their pharmaceutical partners, the PPS teams generate best-in-class analytic data packages and provide scientific, technical and regulatory support to advance, de-risk and accelerate all stages of biopharmaceutical development by all-in-one-hand service with complete documentation and outstanding project management to gain market success.

GeneWerk provides cell and gene therapy sponsors with patient testing services in compliance with guidance by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). The company is recognized as a leading provider of vector integration site analysis (ISA) services, a method that was developed by GeneWerk's founders and that the FDA and EMA recommend performing after the administration of both integrating and non-integrating cell and gene therapies. The company's test menu also includes vector persistence testing, gene edited off-target analysis, vector copy number (VCN), vector quality control, immune repertoire analysis, and dedicated bioinformatics studies. With a focus on vector safety, characterization, and functionality analysis, the company's 30 employees work in compliance with GCP and in line with GLP standards in a BSL-2 classified state-of-the-art genomics and bioinformatics laboratory in Heidelberg, Germany.

Vibalogics offers process development, manufacturing and fill & finish of products for biopharmaceutical companies involved in the development of oncolytic viral therapies, gene therapies, and vaccines. With a specific focus on viruses, live bacteria, and aseptic processing, the company’s 60 employees work in full compliance with international GMP standards in a BSL-2 classified state of the art, 30,000 sq. ft. facility in Cuxhaven, Germany.

Gyros Protein Technologies is a leading provider of peptide synthesis and bioanalytical tools for biotherapeutics discovery, development and bioprocessing. Formed in March 2016 by the merger of Gyros AB and Protein Technologies, Inc., the Company combines Gyros’ microfluidics, systems development and immunoassay expertise with Protein Technologies’ deep knowledge in developing and manufacturing instruments for peptide synthesis.With a large and growing installed base of instruments in the biopharmaceutical industry and related markets, Gyros Protein Technologies is leading its field in several key application areas in biotherapeutics, from research through Phase 4 clinical development and particularly in bioprocess. The Company holds a high growth, high margin product portfolio, including ~50% in recurring aftermarket consumables and service revenue, coupled with a reputation for exceptional customer service and support.