Hamershlag Private Capital Management (HPCM), a health technology investment firm, has made a $150.15m venture-structured investment in Patho Care, a US-based private medical diagnostics firm.
Patho Care specialises in lab-on-a-chip non-invasive point-of-care diagnostic tests. The company’s Raman spectroscopy-based testing platform is supported by 17 patents.
HPCM’s investment includes an acquisition and recapitalisation using new common stock and cash.
The investment deal is being channelled through a newly formed entity, PathoCare Holdings, to optimise operations and streamline the investment structure.
It supports HPCM’s goal to advance healthcare solutions and deliver returns for investors.
The terms of the deal ensure that Patho Care has the necessary resources to grow and solidify its market position.
Additionally, the investment helped Patho Care repay its existing financial obligations. The deal included settling Patho Care’s outstanding notes and preparing the company for its next phase of growth.
The investment will enable Patho Care to expand its service offerings, improve operational efficiencies, and drive innovation in diagnostic testing.
Furthermore, both parties will aim to ensure a smooth transition and uphold high service standards for Patho Care’s stakeholders.
HPCM chairman L. Mychal Jefferson said: “Patho Care is a distinguished leader in healthcare diagnostics through the utilisation of a novel approach with spectroscopy and this investment aligns with HPCM’s strategy of partnering with high-potential companies in dynamic industries.
“Our commitment to delivering transformative value through innovative investments underscores our confidence in Patho Care’s vision and capabilities.”
Patho Care’s technology is designed to enable fast, non-invasive, and cost-effective diagnostic tests, overcoming the limitations of traditional methods.
Its point-of-care testing (POCT) devices are digital, programmable, mobile, accurate, and reusable. These devices can detect and characterise both current and future respiratory bacterial or viral infections.
The system also integrates adaptive artificial intelligence (AI) to improve result accuracy through spectral diagnostics and laboratory developed test (LDT) testing confirmation models.
