Financial investment from Pharmacy Services, Inc. to fuel greater innovation from promising Michigan-based health care industry job makers
Quantum Medical Concepts, an investment fund providing capital for Michigan-based medical startup businesses, today announced an exciting new chapter in its work providing funding opportunities for Michigan companies developing innovative medical technologies. QMC has formally spun off into a stand-alone organization, thanks in part to an investment from Pharmacy Services Inc. (PSI), the for-profit subsidiary of the Michigan Pharmacists Association (MPA). The investment will expand QMC's ability to financially aide up-and-coming health care industry innovators in Michigan. QMC invests up to a quarter-million dollars statewide in start-up funding for qualifying businesses.
Launched in 2014 with initial funding from the Michigan State Medical Society, Quantum Medical Concepts works to fill a critical gap in the development of medical advancements in Michigan. The fund focuses on identifying medical companies with promising ideas that are not yet ready for market, and then providing the seed funding and management support necessary to successfully navigate through the initial stages of product development.
"We could not be more excited about our new partnership with PSI," said Benjamin Louagie, managing director of Quantum Medical Concepts. "Their investment allows us to build upon QMC's accomplishments, while opening doors for projects that benefit the profession of pharmacy."
In addition to funding and support, Quantum provides startups with access to both the Michigan State Medical Society's and PSI/Michigan Pharmacists Association's network of more than 15,000 physicians and pharmacists, who provide invaluable insight through the early development phases of new medical devices and technologies.
"Quantum is a perfect example of why MPA established PSI as a for-profit entity. Investing in Quantum makes perfect sense for PSI and will benefit the members of our association," said Dianne Malburg, chief operating officer of the Michigan Pharmacist Association. "The fund has all the tools and resources in place that startups need in order to take a promising idea and turn it into a successful product. I have no doubt the entire state will get a great return on this investment."
Quantum Medical Concepts provides early-stage investment funding to companies who have solid ideas for innovation in the medical sector. Our business model is unique--in addition to start-up funding, we provide active management support for our portfolio companies. This allows us to quickly identify and support products which have a high likelihood of success. We seek to invest in companies who are forward-thinking, energetic, and dedicated. And in doing so, we will realize solid returns for our investors.
Initially founded by the Michigan State Medical Society, Quantum provides a unique business model. Our combination of capital, access to more than 15,000 medical professionals, and a proven startup management process grants us--and our portfolio of companies--a clear advantage in today's development marketplace.
Pharmacy Services Inc. is the for-profit subsidiary of the Michigan Pharmacists Association (MPA) formed to serve the business needs of pharmacists and community pharmacies.