Caresyntax will use the funding to advance the research and development of its AI analytics, build its platforms and expand its employee base
US-based surgical technology company Caresyntax has received $100m in a Series C funding round led by PFM Health Sciences.
Existing investors IPF Partners, the Relyens Group, and Surgical.AI participated in the funding round, alongside Optum Ventures, Intel Capital, Lauxera Capital Partners, Vesalius Biocapital III, Arno Capital, Rezayat Investments.
Caresyntax intends to use the funding to advance the research and development of its AI analytics, build its platforms, and expand its employee base, along with expansion in key markets.
PFM Health Sciences partner Anant Ahuja said: “Caresyntax is helping bend the curve towards better patient outcomes and more efficient workflow through extracting unique insights from structured and unstructured data in surgery.
“We are highly confident their technology platform will reduce clinical and business risks for all stakeholders in surgery, as it grows into a first-of-its-kind enterprise solution for data analytics in the operating room.”
Caresyntax offers a digital surgery platform that leverages its software and artificial intelligence (AI) to analyse large volumes of real-world data.
Using operating room (OR) data, the platform delivers insights for the use of the care team and surgeons to evaluate and improve care.
The company also provides virtual, real-time access to outside experts, such as medical school instructors or medical device representatives, through its digital platform.
In 2019, Caresyntax announced the acquisition of operating room operations and cost analytics company Syus, extending its hospital footprint.
Caresyntax founder and CEO Dennis Kogan said: “Operating rooms need to perform as effectively and efficiently as possible, and this is especially true now to make up for the surgical backlog driven by the pandemic.
“With better technology to safely automate surgical pathways while generating decision-grade real-world evidence, we will improve health care decision-making, mitigate surgical risks, and advance high-value medical technology.”