#United States #San Diego #HCAP Partners #Salt Creek Capital #Real Diagnostics

HCAP Partners Invests in Real Diagnostics

In an exciting development for the healthcare sector, HCAP Partners, a California-based private equity firm known for its impact investments, has announced its partnership with Real Diagnostics (RealDx), a clinical laboratory specializing in rapid testing for various health conditions, including urinary tract infections, toxicology assessments, respiratory issues, and women’s health concerns. This investment aligns with Salt Creek Capital's acquisition efforts of RealDx, strategically positioning the company to expand its diagnostic service offerings.

RealDx operates across 17 states, providing essential diagnostic services to physician offices, specialty clinics, and skilled nursing facilities. One of its key differentiators is its ability to deliver test results within 24 hours, ensuring healthcare providers receive timely information for better patient management. The company also boasts direct access for physicians to lab staff, enhancing communication and efficiency in urgent care scenarios. Furthermore, RealDx utilizes proprietary technology designed to bolster diagnostic accuracy, setting a new standard in the industry.

According to Stefan Okhuysen, a Partner at HCAP Partners, RealDx’s innovative technology is key in achieving greater accuracy and speed in test results. He stated, "Its operational excellence and commitment to quality in workforce align perfectly with our vision towards supporting healthcare companies that yield significant business outcomes while creating a positive societal impact."

RealDx’s incoming CEO, Cary Breese, brings over two decades of experience in leading technology and healthcare ventures. An entrepreneur at heart, Breese co-founded NowRx, where he successfully scaled operations to generate annual revenues exceeding $35 million. His prior experience includes leading an InsurTech start-up to a successful exit. "We have a solid foundation of innovation and trusted partnerships with providers," commented Breese. "With this new investment along with support from Salt Creek Capital and HCAP Partners, RealDx is well-positioned to broaden its reach and continue delivering timely and precise diagnostics to enhance patient care."

As RealDx transitions into its next growth phase, it is equipped with a robust leadership team and ample opportunities for geographic expansion and new partnerships with payers in the healthcare ecosystem. Dan Mytels, Managing Partner at Salt Creek Capital, highlights this potential: "RealDx is entering a significant growth trajectory, and we are thrilled to work with Cary, HCAP Partners, and the entire management team to scale the business and build upon RealDx’s stellar reputation as a provider of advanced diagnostic services."

HCAP Partners plans on utilizing its investment to support the implementation of the Gainful Jobs Approach, a framework it has developed aiming to enhance job quality standards throughout the workforce. With RealDx’s established focus on job quality, HCAP's involvement will further strengthen workplace policies, create additional career pathways, and expand professional opportunities for employees as the company grows.

As a private equity firm specializing in mezzanine debt and private equity investments, HCAP Partners has a history of supporting underrepresented, lower-middle market companies across the United States. They typically invest between $5 million to $35 million in established businesses, focusing on industries such as healthcare, software, and manufacturing. Since its inception, HCAP Partners has made investments in over 60 companies, providing valuable resources to optimize performance and enhance enterprise value.

Notably, HCAP Partners has been recognized as an Impact Assets 50 fund since 2014, consistently driving positive effects within underserved businesses and their employees through its Gainful Jobs Approach™.

To learn more about HCAP Partners and their investment strategies, visit www.hcap.com. Similarly, more details on Salt Creek Capital and their approach to investing in mid-sized companies can be found at www.saltcreekcap.com.