cultivate(MD) Capital Funds Portfolio Company SPDx (Sterile Processing Express) Announces Julius Heil As CEO

GRAND RAPIDS, Mich., March 1, 2023 /PRNewswire/ -- cultivate(MD) Capital Funds LP, funds that are focused on investments into early-stage healthcare companies with innovative technologies, announced today that one of their portfolio companies, Grand Rapids-based SPDx has hired Julius Heil in the role of CEO. Mr. Heil brings over 30 years' experience in healthcare and logistics with deep expertise in supply chain management, operations and asset management. Most recently, Mr. Heil served as President and CEO of Intalere, a leading national group purchasing organization (GPO). 

SPDx is creating a network of purpose-built facilities to provide surgery centers and hospitals with off-site sterilization and logistics services that are powered by world class technicians, IT systems, and the latest sterilization technologies and methods. Their services are expected to increase revenue and asset use for facilities while lowering costs, as well as reducing risks of healthcare-acquired infections for patients.

Julius Heil said, "Every patient deserves access to quality, affordable healthcare close to home. I am very excited to join SPDx because its business model facilitates expansion of the healthcare ecosystem, thereby providing patients with a larger choice of safe environments in which to receive care. The skills and experience of the board of directors and the management team already in place created an opportunity I knew I had to be part of and should not pass up. Expansion of this business to more cities across the US is just good for everyone SPDx serves."

Scott Lancaster, Chief Investment Officer of The 4100 Group, Inc. said, "We partner with teams—founders and those who surround them—where there is a clear indication of a match between the expertise and experience set and the problem they are going after. SPDx is no exception. With veterans of the medical device and logistics arenas, SPDx complements hospitals, ASCs and OEMs through a proprietary system of services that support the quadruple aim."

SPDx Board Member Michael Chaney said, "We are pleased with the progress of SPDx and the opening of our first facility to provide patients with safer and more affordable health care. Julius' extensive experience, skills, and excellent leadership make him a great addition to the current strong team. This positions us to accelerate our expansion to other markets to serve more patients and expand this exciting new business model."

SPDx is entering the market with their first facility operating in Phoenix, AZ in Q1 of this year.

SPDx is a company specializing in centralized sterile processing serving Ambulatory Surgery Centers, Hospitals and OEM Suppliers. SPDx's unique approach changes the way in which sterile processing is handled, with benefits of increased revenue, efficient case turns, improved compliance and service for facilities that specialize in surgical procedures. Patients benefit from reduced risk of healthcare-acquired infections and lower costs. To learn more about SPDx, please visit us at https://sterileprocessingexpress.com/

As a medical device venture capital fund, cultivate(MD) is dedicated to bringing emerging health care innovations to market, with a special focus on medical device and orthopedic technologies. cultivate(MD) is focused on investing in early stage healthcare companies with innovative technologies that have demonstrated evidence of effectiveness. For more information, visit: https://genesisinnovationgroup.com/

SOURCE cultivate(MD)