Fulcrum Ventures has invested $1.25 million in Path-Tec, LLC. Founded in 2005, Path-Tec provides clinical, pharmaceutical and research labs with a turnkey solution for kit design, production, client supply management and patient specimen tracking. Based in Columbus, Georgia, Path-Tec positions itself as a complete outsourcing solution for labs.
The company will use the funds to expand its operating infrastructure, strengthen its technology offering and provide working capital for its rapid growth. "Path-Tec is well positioned to rapidly expand both its current product offering as well as its customer base," said Kevin Boykin, CEO of Path-Tec. "We are thrilled to be working with Fulcrum Ventures and to have such a strong, experienced partner to support our growth."
"We believe that Path-Tec can be a leader in this expanding industry. The demand for routine and esoteric laboratory tests continues to increase. Hospitals and reference labs are looking for a service provider who can provide customized kitting products as well as value added services, including supply chain visibility, inventory management and tracking" said Frank X. Dalton, General Partner at Fulcrum Ventures.