Investing in the 'Picks and Shovels' of Healthcare
THE SO WHAT
PTX Capital’s focus on AI-enabled healthcare “picks and shovels” rather than drug assets is a bet that infra—data, workflow, tooling—captures durable value as AI permeates clinics and labs. Founders should expect more capital for rails that plug into existing providers and payers, and less patience for full-stack plays that require changing reimbursement or regulation.
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