Brook Venture Makes a $3.6 Million Investment in PointCare Technologies, Inc.
Funds Will Scale PointCare’s Sales & Marketing Activities
Wakefield, MA – Brook Venture Partners (“Brook”) announces today that it has led a $3.6 million investment in PointCare Technologies, Inc. (“PointCare” or “the Company”), a medical diagnostics company helping treat patients in underserved and underprivileged areas of the world. The Company’s PointCareNOW instrument and reagents provide doctors with the CD4 T-Cell metrics for HIV / AIDS patients, data which is critical to properly governing a treatment regimen. Without this information, the “AIDS cocktail” treatment is often ineffective and reularly causes unintended, negative outcomes. The funds will be used to scale the sales and marketing activities of the Marlborough, MA based firm.
“PointCare’s new product, PointCareNOW, is leagues ahead of its competition,” said Fred Morris, Brook Partner. “It is the only diagnostic device which does not require cold chain reagent transportation, can withstand the harsh environments of rural clinics in the developing world, and does not require highly trained lab professionals to use effectively. On top of that, it has a small footprint and can fit easily into the rural labs where space is at a premium.”
“We are fortunate to be able to help so many people in need. PointCareNOW is very well equipped to help save the lives of people who would otherwise have no treatment options,” said Dr. Petra Krauledat, CEO of PointCare. “The extensive time we spent studying the needs of developing countries is beginning to pay off.”
“Building quality sales channels is pivotal to PointCare’s success,” said Bobby Feigler, Sr. VP of sales for PointCare. “We are looking for strong service and support capabilities in each country as we scale our company going forward.”
About PointCare Technologies Inc.
PointCare Technologies, Inc. is a fully integrated, privately held, ISO-certified medical diagnostics company that invents, develops, manufactures, and markets FDA 510(k) medical diagnostic products with the mission to deliver better diagnostic care to disadvantaged populations worldwide. Their new PointCareNOW
instrument is the only diagnostic device which can effectively deliver CD4 and CD4% T-Cell testing capabilities to patients in the rural areas of the world. PointCare Technologies Inc. is based in Marlborough, MA. For more information, please call (508) 281-6926 or visit www.pointcaretechnologies.com
About Brook Venture Partners
Brook Venture Partners provides expansion stage capital through Brook Venture Fund I, Brook Venture Fund II and other co-investment funds to Information Technology and Medical Technology companies located in the Northeastern United States. The firm focuses on investments of $2–5 million and specializes in both financing and providing the strategic and planning support necessary to rapidly scale and accelerate sales and marketing activities. Brook is headquartered outside Boston in Wakefield, MA. For more information, call 781-295-4000 or visit www.brookventure.com
April 24, 2008