In 1990 Evan Jones and Chuck Fleischman established Armonk Partners to acquire controlling interest in Digene Corp. Over the next 17 years the Digene team built the company into one of the leaders in the molecular diagnostics industry. The company completed a successful IPO in 1996 and was sold to Qiagen in 2007 for approximately $1.6 billion. Digene developed the first FDA approved screening tests for HPV, the cause of cervical cancer. In 2007 the company had annual revenue of approximately $200 million with a 35% annual growth rate. With over $50 million in annual cash flow, nearly $100 million in cash and a strong operating business Digene pioneered the field of women’s health diagnostic testing.