DGAP-Media / 2021-04-28 / 11:57
caresyntax raises USD100 million to accelerate digitalisation of operating rooms
. USD100 million raised in oversubscribed Series C round
. One of the largest funding rounds for a German healthcare venture
. New investors include PFM Health Sciences LP, Optum Ventures, Intel Capital, and Lauxera Capital Partners, with
participation of existing investors Relyens Group, IPF Partners and surgical.ai
. Funding to drive expansion in key markets and further strengthen AI capabilities
BERLIN & BOSTON, 28^th April 2021 - caresyntax, the pioneer in digital surgery, hospital performance analytics, and AI,
today announced it has raised USD100 million in additional growth capital, one of the largest funding rounds in the
German healthcare space to date. The Series C round was led by PFM Health Sciences LP, Optum Ventures, Intel Capital,
Lauxera Capital Partners, Vesalius Biocapital III, Arno Capital, Rezayat Investments, along with current investors IPF
Partners, Relyens Group and surgical.ai. The investment follows a year in which the company saw 250% growth, supported
more than 30,000 surgeons, and improved care for more than 2 million patients.
"We are grateful to our new and existing investors who support our vision of safer and smarter surgery," said Björn von
Siemens, caresyntax Co-Founder and CBO. "The last year accelerated the healthcare industry's massive transformation of
becoming a truly data-enabled and patient-centric space. We are excited to be at the forefront of the digital
revolution in surgery."
Operating rooms are the financial heart of hospitals. They always need to perform as effectively and efficiently as
possible - especially now with the surgical backlog resulting from the pandemic. caresyntax's digital platforms use
proprietary software and AI to analyse large volumes of real-world data in and around the OR. This delivers powerful
insights that can be used by care teams and a variety of critical stakeholders that can then use the data to assess and
improve care, and raise overall efficiency. The funding will allow caresyntax to accelerate its expansion in key
markets, further develop its cutting-edge AI capabilities, and build out its platforms.
"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," said Dr. Anant Ahuja, Partner at PFM Health
Sciences. "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's growth comes at a critical time for hospitals. It is estimated that it could take up to a year to work
through the surgical backlog, even operating at 10-20 percent above historical volume. Amidst the first wave of the
COVID-19 pandemic, caresyntax offered hospitals the free-of-charge usage of its software to better manage scarce
resources.
Today's funding announcement rounds off a year of successful new partnerships. Relyens Group, the largest European
medical malpractice reinsurer, relies on caresyntax to help manage surgical risk, utilising its platform for real-world
data-based assessments linked to patient outcomes. The University Hospital of Strasbourg has used caresyntax's software
applications to enable surgical training, which has led to better scores, an optimized learning curve, and improved
risk management. Sheba Medical Center, the largest medical centre in the Middle East, signed a research partnership
with caresyntax to predict surgical outcomes using AI and machine learning.
About caresyntax:
caresyntax is working to make mission-critical health care settings such as surgery, interventional radiology and
obstetrics smarter and safer. The company's proprietary solutions leverage IoT, analytics and AI technologies to
automate clinical and operational decision support for surgical teams and support all outcome contributors in the
delivery and management of risk-bearing contracts. By integrating data from medical devices, electronic health records,
and other sources inside the OR into a unified data platform, caresyntax helps caregivers better identify and manage
risk, increase workflow efficiency, reduce surgical variability and improve operational or clinical outcomes at the
point of care. Today, caresyntax technologies are used in more than 8,000 operating rooms worldwide, and support
surgical teams in over 13 million surgeries per year. More information at www.caresyntax.com.
Contact:
Kekst CNC
Philip Schaar
E: surgicalai@kekstcnc.com
End of Media Release
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Issuer: Caresyntax
Key word(s): Health
2021-04-28 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
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April 28, 2021 05:57 ET (09:57 GMT)
