AI-Assisted Surgery Company Raises $180M for Customer Growth Strategy

AI-powered precision surgery platform company Caresyntax has raised $180 million through a series C extension and growth debt expansion round.

The company said the investment would be used to scale customer adoption and continue developing its AI and edge-to-cloud applications.

These include an end-to-end medical-grade software and AI platform that enables the capture and use of novel data and applications to enhance surgical precision and patient safety.

The application brings together AI-powered software, devices, and clinical services to collect, integrate, and analyze data, including large volumes of video, audio, images, device data, and clinical and operational data.

Through the platform caregivers are provided with real-time and long-term clinical decision support that can be used live during a procedure, as well as outside the operating room via dedicated cloud and telehealth links. 

The vendor-neutral platform aims to address critical data shortfalls and fragmentation challenges that the company says hinder the progress of precision and data-assisted surgery.

After raising $130 million in 2021 in a series C funding round, Caresyntax has expanded its capabilities and services and entered new markets. For example, it also provides automation and data insights to hospitals, medical device companies and insurance groups. The company said it now serves over 30,000 surgical professionals globally.

Related:Nvidia-Backed Dental Surgery Robot Gets $20M Funding Boost

This new funding round, which comprises $80M of equity and up to $100M of growth debt facility, will enable the firm to continue its growth strategy, along with its M&A plan to acquire several US surgical data and technology assets.

Dennis Kogan, Co-Founder and CEO of Caresyntax said the financing is not just an investment in the company, but in the future of surgery. 

“My gratitude extends to our investors who contribute to and believe in the power of smart data and AI usage in the operating room,” he said.

Katrin Vatiska, investment partner at MTIP said of the firm’s investment: “What drew us to Caresyntax was not only their stronghold in a rapidly expanding sector but also their unique platform approach, seamlessly integrating workflow software and data-driven solutions.”