June 22, 2021 | NEWS RELEASES
Summerville, SC – South Carolina Research Authority (SCRA) announces the successful exit of SC Launch, Inc. Portfolio Company, MedProcure, LLC. This exit yielded excellent returns for the continued support of additional technology-based startups in South Carolina.
The Easley-based company provides innovative supply chain solutions for healthcare and educational institution providers, their suppliers, and their group purchasing organizations. Their software tools take the tediousness out of supply chain management by providing real-time access to products, price comparisons, distribution options, contracting, rebating, and any other automation needs in managing healthcare supplies.
MedProcure became an SCRA Member Company in 2008 and received a $150,000 investment the same year.
“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. Their work is providing much-needed supply chain management to the healthcare industry, which has become increasingly significant in the current pandemic environment. I commend them on this successful exit,” said SCRA Executive Director Bob Quinn. “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.”
“I have been fortunate to work with Tom Woodson and his team and also congratulate them on this successful exit. I witnessed his integrity and steadfast commitment to repaying our investment in his company,” said Steve Johnson, SCRA Investment Manager. “They are a textbook example of how to become an SCRA Graduate Company.”
“MedProcure exists to meet the needs of our customers, our healthcare heroes. We know we are playing a role in modernizing the way healthcare supplies are managed and plan to continue ushering it into the digital age. These kinds of efficiencies allow healthcare providers to reallocate their own resources to even more patient care,” said Tom Woodson, MedProcure GM. “SCRA and SC Launch, Inc. have been trusted partners in our journey.”
Visit MedProcure to learn more about their digital tools for all types of healthcare providers and facilities.
About SC Launch Inc.
Established in 2006, SC Launch, Inc., is an independent, nonprofit corporation affiliated with SCRA, which provides loans and investments to selected South Carolina-based companies participating in the SC Launch program.
Chartered in 1983 by the State of South Carolina as a public, nonprofit corporation, South Carolina Research Authority (SCRA) fuels South Carolina’s innovation economy through the impact of its four programs. SC Academic Innovations provides funding and support to advance translational research and accelerate the growth of university-based startups. SC Facilities offers high-quality laboratory and administrative workspaces for technology-based startups and academic institutions. SC Industry Solutions facilitates and funds partnerships between and among startups, industry, and academia. SC Launch mentors and funds technology-based startups that may also receive investments from SCRA’s investment affiliate, SC Launch, Inc.
Director of Marketing and Communications, SCRA
O: (854) 888-2033
C: (843) 277-7295