Care SyntaxThe company, which provides an AI-powered, data-assisted surgery platform for surgeons, has secured $180 million in a Series C extension and growth debt expansion round.
The $180 million consists of $80 million in equity capital and a $100 million growth debt facility.
ProAssurance Corp., surgical.ai, Aescuvest, Cure Capital, Vesalius Biocapital, PFM Health Sciences, BIONIQ Capital, MTIP AG, Symbiotic Capital, Plug & Play Growth Fund, BlackRock Innovation Capital, Relyens, Pictet Alternative Advisors, Optum Ventures and Lauxera Capital participated in the round.
What it does
Caresyntax’s vendor-neutral platform uses AI to collect, integrate and analyze pre-operative, intra-operative and post-operative data to provide surgeons with real-time clinical decision support aimed at improving the patient care journey and clinical workflow.
The data collected is focused on optimizing surgical preparation for clinical teams and patients, assisting with workflow management, and analyzing post-operative risk assessment to personalize patient care.
Headquartered in San Francisco with offices in Berlin, the company plans to use the funds to accelerate the adoption and expansion of its technology, commercially expand its platform and support strategic acquisitions in the surgical automation space.
“This funding is not only an investment in CareSyntax, but also in the future of surgery. We’re grateful to our investors who are committed to and believe in the power of smart data and AI in the operating room,” CareSyntax co-founder and CEO Dennis Kogan said in a statement.
Market Snapshot
In 2019, CareSyntax raised $45.6 million in funding. Two years later, the company It raised $100 million in Series C funding, with another $130 million added to its Series C round later that year.
In 2022, the company Intel is
Caresyntax’s Series C round. The two companies planned to combine their technologies to develop new surgery-centric tools and enhance Caresyntax’s platform and AI capabilities.
The company also Google Cloud. The two created an application called InfluenceOR to help surgeons publish and promote YouTube videos of their procedures to increase brand awareness and reputation.
The company also has several other partnerships, including with innovation and research cloud computing platform Rescale, professional liability insurer ProAssurance, and The Applied AI Company, which will distribute their software and AI products across the US, UAE and Europe.
Other companies using AI in the operating room include: Johnson & Johnson MedTech announced a partnership with Silicon Valley giant NVIDIA in March to leverage AI to enhance real-time analytics and expand the use of algorithms in surgical decision-making, education and collaboration in the operating room.
Surgical Technology Company Apella provides AI-enabled sensors that can be installed in operating rooms to collect data about procedures. That data can be used to inform medical decisions, train staff, and improve surgical and patient outcomes. Apella raised $21 million in Series A funding in 2021.
