PathXL
PathXL’s digital pathology solutions use TissueMark for rapid tumour identification and analysis, enhancing workflow in various cancer types.
The opportunity: Par Equity was attracted by PathXL’s niche market, with the increasing digitisation of pathology results dramatically improving the prospects of PathXL’s innovative TissueMark solution to improve the speed and accuracy of cancer diagnosis. The company was a spin out of Queens University in Belfast and brought with it an unusual combination of academic brilliance and a commercially focused and driven CEO.
The outcome: With support from key members of the Par Investor Network on the board, the business was able to build traction in its key markets in the pharmaceutical and medical manufacturing sectors. The business had built an innovative and defensible solution, but was limited by its sales and distribution capability. In the hands of a multi-national with a global salesforce, PathXL had the potential to be a significant revenue driver. Our Investor Network members were key in bringing credible buyers to the table and in June 2016, PathXL was acquired by Philips Healthcare.
What they said: Des Speed, CEO of PathXL: "Par Equity’s investment, management expertise and advice have been invaluable to us as we have developed our technology and grown as a business over the past four years. We are extremely grateful to them for their involvement."