Polymedco nabs investment from RoundTable Healthcare Partners
Category: #health  By Mateen Dalal  Date: 2022-06-08
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Polymedco nabs investment from RoundTable Healthcare Partners

RoundTable's deep operating expertise will support Polymedco to increase awareness of CRC screening & cardiac testing

RoundTable Healthcare Partners, an investment firm that focuses on businesses in the medical field, has recently announced the completion of its investment into Polymedco, a leading manufacturer, marketer, and distributor in the clinical laboratory marketplace.

Polymedco’s diagnostic tests are used primarily for CRC (colorectal cancer) screening and diagnosing cardiac conditions like myocardial infarctions.

Based in Cortlandt Manor, NY, the firm's products are sold to payors, hospital systems, distributors, and laboratories across North America.

In the United States, CRC is said to be the second most common cause of cancer deaths, with more than 50,000 deaths yearly (American Cancer Society report).

The rising prevalence of colorectal cancer caused the U.S. Preventative Services Task Force to lower the age recommended for preliminary CRC screening and the non-invasive FIT (fecal immunochemical tests) to 45.

The OC-Auto product line of Polymedco supports high-volume FIT screening of stool for H.B. (hemoglobin) for early identification of blood that may be linked with colorectal cancer.

While commenting on the move, Pete Welsh and Drew Cervasio, the co-founders of Polymedco, said that the firm is extremely proud of the position Polymedco is in currently. RoundTable is the perfect partner for the firm as it moves towards transitioning its business.

The firm's core values align properly with the culture the firm has built. In addition, the deep operating experience of RoundTable will support Polymedco in spreading awareness regarding CRC screening and cardiac testing.

Notably, Polymedco represents the sixth equity investment of RoundTable from the firm's $700 million Fund V.

The senior debt financing was funded by CIT, Capital One, Stifel, CIBC Bank USA, and First Horizon. In addition, RoundTable's captive subordinated debt fund, RoundTable Capital Partners III, offered senior subordinated proceedings.

Source Credit - https://www.prnewswire.com/news-releases/roundtable-healthcare-partners-invests-in-polymedco-alongside-owner-founders-301562038.html

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About Author

Mateen Dalal    

Mateen Dalal

Mateen has completed his Bachelor’s degree in electronics and telecommunication engineering, post which he lent his proficiency to the industry, working as a quality and test engineer. Drawn intricately toward the field of content creation however, Mateen soon switc...

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