Easley’s MedProcure LLC., a tech startup that offers supply chain solutions for health care and educational institution providers, their suppliers, and their group purchasing organizations, is leaving the SC Launch nest after the corporation's 13-year investment in the company.
According to the SCRA affiliate, MedProcure’s exit from its investment portfolio yielded “excellent returns” for the continued support of additional technology-based startups in South Carolina.
“With their established success, we were able to provide another level of financial security to MedProcure to support them through significant growth to now becoming a graduate company,” SCRA Executive Director Bob Quinn said in a news release. “Their work is providing much-needed supply chain management to the health care industry, which has become increasingly significant in the current pandemic environment. I commend them on this successful exit. This is a win for MedProcure, SCRA, SC Launch Inc., and our state. Returns on these investments are funneled right back into the innovation pipeline for South Carolina.”
MedProcure became an SCRA member company in 2008 and received a $150,000 investment the same year.
“I have been fortunate to work with Tom Woodson and his team and also congratulate them on this successful exit,” Steve Johnson, SCRA investment manager, said in the release. “I witnessed his integrity and steadfast commitment to repaying our investment in his company. They are a textbook example of how to become an SCRA graduate company.”
The Easley-based startup provides software tools that streamline supply chain management by providing real-time access to products, price comparisons, distribution options, contracting, rebating, and any other automation needs in managing health care supplies.
“MedProcure exists to meet the needs of our customers, our health care heroes,” Tom Woodson, general manager of MedProcure, said in the release. “We know we are playing a role in modernizing the way health care supplies are managed and plan to continue ushering it into the digital age. These kinds of efficiencies allow health care providers to reallocate their own resources to even more patient care.”