HCAP Partners Announces Investment in Real Diagnostics Supporting Next Phase of Growth

The investment supports Salt Creek Capital's acquisition, positioning RealDx to expand access to advanced diagnostic services

SAN DIEGO, Sept. 23, 2025 /PRNewswire/ -- HCAP Partners, a California-based private equity firm and nationally recognized impact investor, today announced its investment in Real Diagnostics ("RealDx"), a clinical laboratory specializing in rapid, accurate testing across key areas including urinary tract infections (UTIs), toxicology, respiratory conditions, and women's health. The investment supports Salt Creek Capital's acquisition of RealDx and represents a strategic partnership aimed at expanding access to high-quality diagnostic services. Terms of the investment were not disclosed.

RealDx provides diagnostic services to physician offices, specialty clinics, and skilled nursing facilities across 17 states. The company distinguishes itself by delivering test results within 24 hours, offering physicians direct access to lab staff, and leveraging proprietary technology to improve diagnostic accuracy.

"RealDx stands out with technology that delivers greater accuracy and faster results for providers," said Stefan Okhuysen, Partner at HCAP Partners. "Its focus on operational excellence and commitment to workforce quality aligns well with our approach to supporting healthcare companies that create both strong business outcomes and meaningful impact."

Cary Breese, incoming CEO of RealDx, brings over 20 years of experience leading healthcare and technology companies. He co-founded NowRx, where he scaled revenues to $35 million, and previously led an InsurTech venture to a successful exit.

"The company has built a strong foundation of innovation and trusted partnerships with providers," said Breese. "With the support of Salt Creek Capital and HCAP Partners, we are well-positioned to expand our reach and continue delivering timely, accurate diagnostics that improve patient care."

"RealDx is entering its next phase with a strong leadership team and clear opportunities to expand its geographic footprint and payor relationships," said Dan Mytels, Managing Partner of Salt Creek Capital. "We are pleased to partner with Cary, HCAP, and the management team to scale the business and build on its reputation as a trusted provider of advanced diagnostic services."

HCAP's investment will also support RealDx in implementing the Gainful Jobs Approach, the firm's proprietary framework designed to improve job quality standards across its workforce. RealDx has developed a solid foundation of job quality, and HCAP will work with the company to strengthen workplace policies, expand career pathways, and enhance opportunities for employees as the company grows.

The transaction was led by Stefan Okhuysen, Ben Consoli, and Bekhruz Nuriddinov of HCAP Partners.

About HCAP Partners
HCAP Partners is a private equity firm specializing in providing mezzanine debt and private equity for underserved, lower-middle market companies throughout the United States. The firm seeks to invest $5 million to $35 million in established businesses generating between $10 million and $100 million in revenues in the healthcare, software, services, and manufacturing industries. HCAP Partners has invested in over 60 companies since its founding and, through active engagement with portfolio companies, provides value-added resources to help optimize performance and increase enterprise value. The firm has been an Impact Assets 50 fund since 2014 and, through its Gainful Jobs Approach™, works to facilitate a positive impact on underserved businesses, their employees, and their communities. For more information, please visit www.hcap.com.

About Salt Creek Capital
Salt Creek Capital is a San Francisco Bay Area-based private equity firm that partners with experienced operating executives to acquire profitable companies with $5 million – $150 million in revenue. Salt Creek Capital takes a long-term approach to investing in lower middle market businesses and seeks to create value by working closely with management teams to accelerate growth and improve operating efficiencies. For more information, please visit www.saltcreekcap.com.

Contact:
Stefan Okhuysen
HCAP Partners
[email protected]  
(858) 259-7654

SOURCE HCAP Partners