ILLINOIS — In August of 2016 Pritzker Group Private Capital stated in a press release that PathGroup, one of the largest private providers of anatomic pathology and clinical lab services in the U.S., announced a recapitalization in partnership with Pritzker Group Private Capital.
Founded in 1965, PathGroup is a premier provider of anatomic, clinical and molecular pathology services, as well as one of the largest providers of women’s health services in the United States.
In the press release it states Pritzker Group Private Capital and co-investors including Vesey Street Capital Partners invested alongside PathGroup’s management team and pathologists, who continue to hold a significant ownership stake in PathGroup and will continue to lead the company’s growth as the preferred provider of comprehensive anatomic, clinical and molecular pathology services.
“Pritzker Group’s depth of resources, understanding of our business and long-term approach to building market-leading businesses makes them an ideal partner for PathGroup,” said Dr. Ben Davis, chairman, president and CEO of PathGroup. “We’re proud to join with Pritzker Group to support the next chapter in our company’s growth.” (Source)
Pritzker Group, led by Tony and J.B. Pritzker, has three principal investment teams: Private Capital, which acquires and operates leading North America-based companies; Venture Capital, which provides early-stage and growth venture funding to technology companies throughout the United States; and Asset Management, which partners with top-performing investment managers across global public markets.
Pritzker Group Private Capital acquires North America-based middle-market companies with leading positions in the manufactured products, services and healthcare sectors.
March 16, 2020
Effective March 16, 2020, PathGroup begins offering testing for Coronavirus Disease 2019 (COVID-19).
“Effective March 16, 2020, PathGroup will begin to offer testing for Coronavirus Disease 2019 (COVID-19)”, the company said in a release. “This test is to be ordered only for individuals who meet the Centers for Disease Control and Prevention (CDC) Coronavirus Disease 2019 (COVID-19) clinical and/or epidemiological criteria for testing. Because this criteria may change as more is learned about the virus, please refer directly to the CDC website for the most up-to-date patient testing criteria:” (Source)
March 29, 2020
On March 29, Pritzker told reporters that he hoped the state would scale its testing capacity from roughly 4,000 tests a day at the time to the 10,000 mark in just 10 days, or by April 9. (Source)
April 27, 2020
On April 27, 2020, PathGroup announced the availability of serologic testing for SARS-CoV-2, the pathogen associated with COVID-19. This new test is for the detection of human IgG antibodies against SARS-CoV-2 in serum or plasma.
“The virus, which can cause mild to severe respiratory illness, was first identified in Wuhan, China, and
has now spread globally. It is mainly transmitted through respiratory droplets and can also be transmitted through surface contact.” (Source)
In July 2018 ‘Cue Health’ reeled in more than $45 million in series B financing the company said will be used to complete development and fund U.S. clinical studies of its first set of diagnostics products.
“The San Diego-based company said investors in the financing round included Johnson & Johnson Innovation, Section 32, Dentsu Ventures, Synergy Ventures, Principles of Tarsadia Investments, Pritzker Group Venture Capital, Babel Ventures and Troy Capital. Returning investors included Sherpa Capital, Cove Investments and Rohan Oza.” (Source)
March 31, 2020.
Cue Health awarded $13 million government contract to develop portable, point-of-care COVID-19 test
San Diego, CA (March 31, 2020) – Cue Health Inc. (“Cue”), a healthcare technology company, announced that is has been awarded a $13 million contract to accelerate the development, validation and FDA clearance of a portable, molecular diagnostic test capable of detecting SARS-CoV-2, the virus that causes COVID-19, in less than 25 minutes using a simple nasal swab. The test is part of the Cue Health Monitoring System, which is designed to be a portable device that can perform a molecular test and connect patients to a mobile health platform that features interventional components such as telemedicine consultations.
The funding was awarded by BARDA, part of the Assistant Secretary for Preparedness and Response (ASPR) at the U.S. Department of Health and Human Services. The funding will enable Cue to accelerate the development and validation of its molecular COVID-19 test, paving the way for its scale-up to facilitate on-the-ground management of this pandemic cycle and prepare for similar infectious disease outbreaks in the future. (Source)
Illinoisans are very aware that Governor Pritzker has further extended his original 30-day emergency Stay-at-Home executive order and has been met with several court challenges to it.
Illinoisans are also aware that the Governor quietly implemented new rules (only the general assembly can create laws in Illinois) that will punish those that attempt to circumvent his orders with a Class A Misdemeanor that can come with a fine and up to one year in jail.
Everything reported in this article pertaining to Governor Pritzker and the Pritzker Group is sourced and linked right back to his companies’ websites.
Is there a personal motive on behalf of the Governor to prolong this COVID-19 event as long as possible given his ties to testing companies?