The company's system gives a surgical team access to outside experts without having more people in an operating room
Avail secures $100m in Series B funding round. (Credit: Capri23auto from Pixabay.)
Avail Medsystems has secured $100m in a Series B financing round, to address the demand for procedural telemedicine technology used in the operating room.
Global investment firm D1 Capital Partners has led the investment round, while existing investors and 8VC have participated in the funding round.
Previously, Avail Medsystems raised $25m in Series A and Series A-1 funding from investors including Lux Capital, Playground Global, Baidu Ventures, and Refractor Capital.
D1 Capital partner James Rogers said: “We are very excited to be a part of Avail’s mission to provide universal access to clinical and procedural expertise. Now more than ever, the medical community needs innovative technological solutions to pressing systemic problems.
“Avail Medsystems is disrupting the industry for the better. We look forward to helping Avail bring Procedural TelemedicineTM to every hospital and surgery center in the U.S. and abroad.”
Procedural Telemedicine System meets specific needs of medical professionals
Avail said that depending on the type of procedure, nearly 25-100% of surgeries require surgical teams to partner with outside experts, who need to be present in person to complete a surgery.
The company has developed the Procedural Telemedicine system, which enables surgical team to reduce the number of people in an operating room, and allow experts outside the operating room to remotely join them.
Avail’s Procedural Telemedicine system comes with a portable console, for use in the operating room by surgeons, along with a versatile app that allows experts o advise remotely on the procedure.
The company claimed that its Procedural Telemedicine System is the first and only technology-backed approach that addresses the specific needs of medical professionals during surgical procedures.
Furthermore, the system is supported by Avail Portal, the company’s secure online platform that helps physicians to easily manage schedules, update availability in real-time and collaborate.
Avail Medsystems CEO Daniel Hawkins said: “For too long, medical information sharing, and collaboration have depended on in-person communication, which is costly and time consuming and increases infection risk.
“Our purpose-built technology removes these barriers, enabling medical collaboration, information sharing, and training independent of location. While our journey began long before COVID-19, the pandemic has shone a spotlight on these issues and accelerated the need for remote presence in the operating room.