Investment Diligence into Leading Oncology Diagnostic Provider

Financial Services
Application / Market Segments Profiled
Total Investment $ Supported
Project Details
Voice-of-Customer Research
Competitive Analysis
Revenue Projection
Due Diligence


A global private equity firm wanted to project the revenues and competitive positioning of a leading oncology diagnostics provider to support a growth capital investment

Our Approach

Secondary Research

  • Reviewed and aggregated market figures and forecasts from public filings (e.g., quarterly / annual reports, investor presentations, earnings calls, etc.) to build a comprehensive factbase of the oncology diagnostics market
  • Benchmarked target company’s product lines and development portfolio against competitor offerings  
  • Developed case studies of proxy companies to explore various growth trajectories
  • Reviewed regulatory guidance and policies to ascertain how recent regulation would impact the overall market

‍Primary Research

  • Interviewed 16 clinical, diagnostic, and reimbursement KOLs to gather feedback on oncology diagnostic vendor selection criteria, market trends, and understand how well the target company’s current and future offerings address the needs of the market
  • Captured feedback on current and expected future utilization of NGS for oncology testing
  • Identified seven distinct scenarios for the evolution of the oncology diagnostics market to evaluate how the target company fared in each scenario

Quantitative Analysis

  • Developed detailed 10-year revenue, test volume, and market share projections segmented by key market segments under 7 distinct probability-weighted market evolution scenarios
  • Estimated the impact of regulatory and payor-mix trends on average reimbursement


Key takeaways from DeciBio’s work included:

  • Enabled client to make a rapid decision to proceed with a $150M growth equity investment in the target company, which remains a leader in the oncology diagnostics market
  • The client returned to DeciBio later for research to support a follow-on investment in the target company
  • The client has publicly cited significant growth in their debt and equity positions in the target company
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