New York – April 29, 2025 – Carl Marks Securities, an affiliate of middle market investment bank Carl Marks Advisors, announced that it has successfully advised Gulf Coast Scientific (“Gulf Coast” or the “Company”), an industry-leading developer, manufacturer, and distributor of cost effective, non-invasive diagnostic medical tests, on its sale to SSI Diagnostica Group (“SSID”), a global leading developer and manufacturer of specialized infectious disease diagnostic solutions.
Founded over 25 years ago and headquartered in Oldsmar, Florida, Gulf Coast’s primary product is an FDA-approved urea breath test with an accuracy rate of over 99% and a rapid result. This test is recognized as the most accurate, cost-effective, and easy-to-use solution in the international H. pylori diagnostics market, with Gulf Coast currently doing business in 27 countries. Customers include laboratories, hospitals, doctors’ offices, surgery centers, and distributors. Gulf Coast is also in late-stage clinical development of pulmonary-based breath tests for diagnosing and monitoring pneumonia, cystic fibrosis, and other conditions.
Since H. pylori was only recently discovered in the early 1980s, there remains a lack of awareness about the infection among both the general public and the medical community, and its link to certain illnesses and gastrointestinal cancer. Over 60 million people in the U.S. suffer from ongoing H. pylori infections and approximately double that number have symptoms associated with it yet remain undiagnosed. This acquisition increases the Company’s visibility and expands its domestic and international presence.
SSI Diagnostica Group focuses on infectious disease in-vitro diagnostic solutions and antisera and other reagent development for gastric, respiratory, and bloodborne diseases. Headquartered in Denmark, the company sells its products in 100 countries worldwide, with direct sales in the Nordics and the USA. It has US locations in California and Virginia with strong R&D capabilities, product development, and state-of-the-art manufacturing from which it serves leading US reference laboratories and hospital labs.
“In the year that we have been working with them, our team has seen Gulf Coast continue to increase its market penetration and is delighted to have successfully guided them through their acquisition by SSI Diagnostica Group,” said Warren H. Feder, Partner at Carl Marks Advisors. “With both companies specializing in H. pylori diagnostics and producing complementary products, the combination makes sense for everyone involved. Together, these companies will be able to generate greater awareness of H. pylori and offer a range of testing options to health care professionals internationally.”
“The Carl Marks team, including Warren Feder, Michael Gordon, and Alan Gutman, brought a truly personalized approach, and what started as a business relationship became one of true friendship. We placed our full trust in their advice and guidance, which ultimately led us to a very successful closing with a perfect partner,” said Philip Ross, Chief Executive Officer of Gulf Coast Scientific. “We are thrilled to join forces with SSID to bring innovative testing solutions that improve patient outcomes to more customers. We look forward to benefiting from the synergies of our products and distribution networks as we expand upon our global capabilities.”
“We are excited for the Gulf Coast team to become part of the SSID family. The Company’s innovative tests are industry-leading and complement our offerings nicely,” said Christina Lindved, Chief Executive Officer of SSI Diagnostica Group. “Philip and his team, whose leadership and strong relationships with quality labs and hospital systems around the world have been a huge part in the Company’s success, will join our management team and continue to lead Gulf Coast. We look forward to embarking on this journey together as we help serve even more patients with gastric infections.”
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