Rockmont Partners and Nashville Capital Network recently invested in a secondary transaction totaling $8MM, to secure expanded minority interest in healthtech vendor-management growth company RepScrubs.
Monday, January 28, 2024
RepScrubs affords hospitals, health systems and surgery centers access to its automated platform, which is designed to ensure “full transparency, accountability and streamlined management” with respect to vendor on-site visibility, compliant credentialing; dispensing of proper hospital-approved attire; and, alleviation of many provider outlays for scrub costs and inventory, with vendors paying for apparel and related goods and services.
The company’s announced tech integration partners thus far include Nashville-based HealthTrust, as well as GHX Vendormate, IntelliCentrics, and Symplr.
If this seems like ‘just another pedestrian challenge of removing friction from healthcare system processes’, readers may feel different after scanning resources appended at the end of this story. Among other findings — from the life-and-death factors, to the pecuniary — researching the matter illuminates varying degrees of cooperation and tensions among clinicians and industry visitors to operating suites, among other issues.
RepScrubs Founder-Chairman-CEO Jeff Feuer remains majority owner of the RepScrubs business, which was launched in 2015, two years after the 2013 founding of parent Prescient Logistics LLC, which is based near Orlando and has about 50 FTE, spread widely.
Feuer began pursuing his current venture soon after completing more than 24 years in senior sales positions with Michigan-based Stryker.
Today, Feuer and COO Rajiv Sehgal co-lead RepScrubs’ product development efforts.
RepScrubs is represented in Nashville by Territory Manager Steadman Nall. Company VP-Sales Kenneth Rhodes works in Nashville and other markets.
VNC research indicates Rockmont is now the second-largest shareholder in RepScrubs. VNC reported in 2024 on Rockmont Growthtech Fund I.
Brian Fox MBA, whose Rockmont was party to two previous rounds of investment in RepScrubs, has begun his third year on the RepScrubs board and is joined by Rockmont Managing Partner Curt Futch, who is now a RepScrubs board observer.
CEO Feuer said in a Rockmont release today, “The guidance and strategic insights from Rockmont Partners over the last two years has been extremely beneficial to me as the Founder and CEO and their backgrounds as operators who started and scaled high-growth technology businesses has been incredibly valuable. With their continued support, we are poised to accelerate our growth and bring our cutting-edge solutions to more healthcare facilities both inside and outside the U.S.”
VNC learned that the company has begun studying cross-border opportunities with a longer-term view, and Rockmont’s Fox, who built and successfully exited international fintech company Confirmation.com is known to have interest in international markets.
In a Rockmont release issued today, Fox conveyed excitement, saying, in part, that the company’s “innovative approach to disposable scrubs, infection control and vendor compliance is revolutionizing the industry and we believe in their potential to make a substantial positive impact on patient care. We are excited to help them achieve their aggressive goals for new services and expanded markets in this next phase of their business.”
The company’s automated scrubs-dispensing platform is available nationwide to help healthcare organizations identify and manage perioperative vendor credentialing and compliance with individual healthcare facility requirements, including “background checks, immunizations, training and compliance,” according to today’s press release.
The RepScrubs platform is now in-place in more than 700 sites. How it works. Vendor benefits. Closed-loop system.
The latest financial transaction was a liquidity event for friends, family, Angels and other early investors in the 12-year-old growth company. RepScrubs/Prescient neither sought nor received capital for itself via this transaction.
The company’s most recent trademark filings indicate counsel received from attorneys with Gainesville, Fla.-based GrayRobinson.
SEC: RMP RepScrubs filing (12/2024). Previous Prescient Logistics LLC filings 2015-to-present. Rockmont coverage. Rockmont release.