Fulcrum Q3 Recap

We have been keeping in mind the recent devastation of Hurricanes Helene and Milton. Our thoughts and prayers are with our friends and neighbors across the Southeast who have been impacted.

As we transition from the summer heat to the cooler temperatures of fall, we are reflecting on an active Q3. We have two new investments as well as two exits and two follow-on investments. Our portfolio companies have been active as well, sweeping awards seasons and announcing exciting new stages of growth.

New Investment

We are thrilled to announce our investment in Physician Services Group, the South Carolina based provider of transitional and geriatric care for patients residing in skilled nursing and assisted living facilities. "PSG differentiates itself through its high-touch service model and unwavering focus on quality and outcomes," said Principal Chad Hooker.

Fulcrum is excited to welcome MedScout to our portfolio, after leading a $15 million Series A with participation from existing investors, Stage 2 Capital and LiveOak Ventures. MedScout's revenue acceleration platform is revolutionizing commercial operations for medtech and life sciences companies. This latest round of funding will enable the company to ramp its go to market efforts as well as hire additional people to deliver on the ever-evolving product.

Exits

We are proud to announce a partial exit of Virtuous, as they have secured a $100M funding found led by Susquehanna Growth Equity. This funding round will spur product growth, including the development of AI tooling, expanded integrations, third-party data insights, and platform upgrades. In addition, Virtuous will expand its customer success and services teams. We are very proud of the progress of the Virtuous team, and will remain a significant investor.

Miratech has acquired Prevalent, the industry leading enterprise risk management platform. The combination of technologies, team, and AI innovation will create an elevated, holistic risk platform that solidifies Miratech's position in their sector.

Follow-on Investments

Fulcrum News

We are honored that PitchBook ranked Fulcrum’s performance across multiple funds in the top 10 of manager performance globally for Growth Equity. It's a testament to our incredible team, CEOs and their teams, investors, and community that we are able to build enduring companies that perform at such a high level. We are excited to keep working and help the next wave of founders and companies grow further, faster.

We are very excited to have made the top spot of Axial's 2024 Top 50 Lower Middle Market Healthcare Investors & M&A Advisors.

Portfolio Company News

Becker's Hospital Review recognized Jamie Reid a CISO/CPO to Know in 2024. In addition, Louisville Business First ranked Advantum a Best Place to Work.

Canvs appointed Laura Kegley as Chief Revenue Officer. In addition, they topped this quarter's G2 Rankings for Customer Satisfaction.

Digital Hands' Beth Moses-Brady won the 2024 Stevie Awards' Chief Happiness Officer and Chief Human Resources Officer. In addition, the company was named a 2024 Best Workplace for Innovators by Fast Company.

Shankar Jagannathan joined Florence this quarter as Chief Operation Officer. In addition, Blake Adams was nominated for CMO of the Year by the GTM Awards.

Homefirst Home Healthcare won a Nashville 2024 Roaring 20 award, and was recognized at ACG's annual reception this past August.

The Arizona Healthcare Association named Olio the "Business Affiliate of the Year".

ProxsysRx signed a contract this quarter to build and manage a specialty pharmacy for South Carolina's Conway Medical Center.

Supply Wisdom announced their partnership with Fusion Risk Management to enhance third-party risk management effectiveness. In addition, Director of Human Resources, Bhavya Shetty, won the Global Excellence Award at the 2024 HR Success Talks.

SurgNet Health Partners announced the acquisition of the Tuscaloosa Endoscopy Center, with financial support from Fulcrum. The partnership will advance care and the patient experience while also ensuring long-term sustainability for endoscopy services in the market.