Patho Care Attracts $150M in Financing From Health Tech Investment Firm

Hamershlag Private Capital Management Limited (HPCM) has funneled $150.1 million into Patho Care LLC, which develops “lab on a chip” non-invasive point-of-care diagnostic tests. The transaction was structured as an acquisition and recapitalization using newly issued common stock and cash through a newly formed entity, PathoCare Holdings Inc., to streamline the investment and operational framework.

The transaction terms were designed to ensure Patho Care LLC has the resources to expand its operations and establish its market position. The investment also facilitated the repayment of existing financial obligations held by Patho Care LLC. One of the deal’s critical components included settling PathoCare’s outstanding notes so the company can embark on its next phase of growth.

“Patho Care is a leader in healthcare diagnostics through the utilization of a novel approach with spectroscopy and this investment aligns with HPCM’s strategy of partnering with high-potential companies in dynamic industries,” HPCM Chairman L. Mychal Jefferson said. “Our commitment to delivering value through innovative investments underscores our confidence in PathoCare’s vision and capabilities.”

The investment will enable Patho Care to broaden its service offerings, enhance operational efficiencies, and innovate in key areas of diagnostics testing. The collaboration between HPCM and PathoCare Holdings Inc. is set to unlock new growth opportunities while maintaining the company’s legacy of excellence in an emerging technology. Patho Care’s Raman spectroscopy-based testing platform is underpinned by 17 patents.

Hamershlag Private is a family investment office dedicated to investing in category-defining companies and projects across industries and sectors. The company provides long term flexible capital with the ability to act quickly on impactful opportunities. The firm maintains a diversified portfolio, with a focus on disruptive technologies, climate impact, and emerging industries by cultivating extensive long-term relationships with other family offices and investment firms across asset classes. HPCM combines institutional infrastructure with core values of flexibility, creativity, and execution.

Patho Care LLC, a wholly owed subsidiary of PathoCare Holdings Inc., is a private medical diagnostics firm that has developed the Raman Spectroscopy-based testing platform, which enables rapid, non invasive, and highly cost effective diagnostic tests, addressing critical limitations in traditional diagnostics. Current testing systems require swabs, reagents, immobile equipment, and several hours to days to obtain test results and are primarily chemical based processes. The PathoCare’s point-of-care-testing devices are in the digital domain and therefore programmable, mobile, accurate and reusable for the detection and characterization of any current or future respiratory bacterial or viral infection. The system uses adaptive artificial intelligence to further increase the accuracy of its results via spectral diagnostic and LDT testing confirmation models.

PathoCare Holdings Inc. is the newly formed investment and acquisition vehicle created to facilitate Hamershlag Private’s current and future investments and into PathoCare LLC.