Dallas-based Ellie Diagnostics announced a new capital partnership today to propel its mission of putting wellness at the core of animal health.
Through an undisclosed investment from Avego Healthcare Capital, the private equity arm of Avego Management, Ellie plans to expand its diagnostic services for veterinarians across the U.S.
“Veterinarians will benefit tremendously from this new strategic partnership,” Mark DeCourcy, Ellie’s founder and CEO, said in a statement. “We’re thrilled to leverage this capital partnership to develop innovative new tools to enhance clinical outcomes and improve the diagnostic experience for our U.S. customers.”
According to DeCourcy, Avego was a “perfect fit” because of its entrepreneurial and innovative spirit, which mirrors his own values at Ellie Diagnostics. Avego Healthcare Capital approaches investments by supporting leadership teams during meaningful stages of business evolution.
“Avego has been actively seeking to diversify the fund’s human healthcare portfolio, and our investment in Ellie is an exciting first step toward increasing our exposure to the fast-growing veterinary industry,” Jordan McLean, vice president at Avego, said in a statement. “We are grateful to partner with Mark, a seasoned lab entrepreneur, and look forward to supporting his vision to disrupt a consolidated industry by providing a superior, customer-centric solution for veterinarians.”
McLean is also a director at Ellie.
Ellie aims to transform animal health
Ellie aims to position itself as the leader in innovative, pet-based diagnostic solutions. The full-service laboratory wants to make animal wellness testing more accessible with the best quality and pricing.
Ultimately, DeCourcy and his team hope to transform the way owners take care of their beloved pets’ health.
The founder was originally inspired to shift into the animal care space when his dog, Ellie, experienced a poor diagnostics visit at the vet. DeCourcy says he was hit with high prices and “nothing to show for it.”
He gathered a group of animal health experts who, with the help of DeCourcy’s own proficiency in healthcare diagnostics, developed a suite of services dedicated to improving animals’ health and livelihood. Before taking the entrepreneurial route, DeCourcy was the VP of Strategy at True Health Diagnostics, where he oversaw mergers & acquisitions and drove strategic expansion.
Once the tech was established, he named the company after his furry friend—appointing the 12-year-old Cavachon “chief dog.” Ellie is credited with overseeing “general operations with a focus on treat distributions.”
Full-service veterinary lab testing
Ellie offers diagnostics testing to veterinary clinics and specialty animal hospitals with what the team calls precise, reliable results. Its services include next-day lab results, pathology consultations, data protection, mobile access to orders and results, and lab reporting.
The company’s menu of tests includes routine lab testing, histopathology, cytology, microbiology, and a variety of specialty tests. According to the company, its pricing is around 50 percent less expensive than corporate alternatives.
But Ellie’s foundation lies in analyzing pets’ blood to ensure their health.
DeCourcy and the team believe wellness bloodwork should be the standard for all pets. They hope Ellie will be the avenue in which veterinarians can offer customers essential bloodwork for their pets every year. The company says the service—called Ellie Well Wellness—is attainable and conveniently priced.
The result: “Healthier pets, and healthier profits.”
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