Caresyntax Secures $45.6M in Funding to Accelerate Development of Automated Surgical Technologies

VCBeat (WeChat ID: vcbeat) learned from foreign media that on December 12, 2019, Caresyntax announced it had secured $45.6 million in new financing. The investors included Whiz Partners, DDG Fund, Plug and Play, Barco Healthcare, Mitsubishi Corporation, Relyens, and IPF Partners.

Since its inception, Caresyntax has raised a total of $77.5 million in funding, having completed two rounds of venture capital financing in 2017 and 2018, respectively. The proceeds from this latest round will be used to accelerate Caresyntax’s expansion both domestically and internationally, and to further develop and deploy surgical automation technologies that benefit all stakeholders across the entire surgical ecosystem.

Caresyntax is a service platform dedicated to improving surgical outcomes through digital technologies. By leveraging Internet of Things (IoT) and data analytics, Caresyntax provides surgeons and hospitals with visualized data and automation tools to address complex challenges in surgical procedures. Qvident, a web-based surgical data workspace from Caresyntax, enables the management and review of surgical data. The PRIME365 Surgical Process Automation Platform is a modular suite of tools designed to streamline surgical workflows and deliver more efficient healthcare services. By integrating data from medical devices, electronic health records (EHRs), and other sources into a unified platform, Caresyntax helps caregivers better identify and manage risks, enhance operational efficiency, reduce surgical uncertainty, and improve the overall quality of care. Currently, Caresyntax’s technology is deployed in over 7,000 operating rooms worldwide, supporting surgical teams in more than ten million procedures annually.

In fact, the advantages of the Caresyntax platform extend far beyond the operating room. For manufacturers of medical devices and robotic systems, the real-world data captured by Caresyntax is of significant importance for timely tracking and improvement of product performance. For insurance companies, the Caresyntax solution supports data-driven underwriting decisions and risk-adjusted premiums, helps reduce perioperative risks, facilitates more cost-effective claims investigations, and enables the formulation of high-value contracts through a trusted, neutral data system and KPI metrics.

Dennis Kogan, Co-founder and CEO of Caresyntax, stated, “Caresyntax is pleased to have secured leading healthcare investors. Caresyntax has created significant opportunities to improve care and business outcomes for patients within health systems worldwide. Caresyntax is committed to delivering safer and more efficient surgeries for patients, while providing value to clinicians, health systems, and payers.”

Pierre-Yves Antier, Head of Innovation and Transformation Strategy at Relyens, stated: “Caresyntax has created a proprietary platform that enables insurers such as Relyens to leverage real-world data to deliver tailored risk management solutions for their customers. Relyens greatly appreciates Caresyntax’s expert leadership team.”

Headquartered in Lyon, France, Relyens is a global reference partner for healthcare providers and local authorities in managing the inherent risks of their operations. It has provided risk management solutions to more than 30,000 clients, including hospitals, clinics, physicians, and local and regional governments.

Whiz Partners, headquartered in Minato Ward, Chiba, Japan, primarily invests in companies in Japan, the United States, Europe, and other Asian countries, with a focus on the life sciences, biotechnology, and information technology sectors.

Plug and Play is a team composed of developers, digital marketing experts, and designers, dedicated to combining advanced technology with creative design.

(Compiled by: Chang Jia)