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Byline: Ron Orol in Washington
Investor Richard Blum is moving to jumpstart a sale of cancer diagnostic company Impath Inc.
Blum, chairman and president of private equity firm Blum Capital Partners LP, said in a Securities and Exchange Commission filing last week that the company should consider an "extraordinary corporate transaction," including a deal, and that he may also seek a change in management. In fact, Impath has been for sale for months, sources close to the bidding said. In January the company shopped itself to a small group of private equity firms for roughly $500 million after failing to find a strategic buyer, sources said.