MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » Caresyntax brings Series C funding to $130M

Caresyntax brings Series C funding to $130M

By

Caresyntax

Digital surgery platform developer Caresyntax announced today that it added a $30 million extension to its Series C funding round.

Boston-based Caresyntax’s $30 million extension brings its total Series C funding to $130 million, adding to the first stage announced in April 2021, according to a news release.

PFM Health Sciences led the extension, with selected investors including funds and accounts managed by BlackRock, as well as ProAssurance, Harmonix and existing investors such as the Relyens Group and IPF Partners. The overall Series C features investments from Optum Ventures, Intel Capital, Lauxera Capital Partners, Vesalius Biocapital III, Arno Capital, Rezayat Investments, and Surgical.AI.

Caresyntax said the funding will be used to continue developing its digital surgery platform, which uses proprietary software and AI to analyze large volumes of real-world data in and around the operating room to offer insights for immediate use by the care team and for long-term use by surgeons to assess and improve care.

Additionally, the funds raised in the Series C are earmarked for the advancement of new data solutions that support value-based care providers, Caresyntax said.

“Caresyntax is helping a network of over 40,000 high-performing providers improve their bottom line by up to 60 percent, while improving safety and satisfaction for over 2 million patients a year,” Caresyntax co-founder, chairman & CEO Dennis Kogan said in the release. “We are proud to welcome BlackRock and ProAssurance’s expertise in health tech and risk management; their support will allow us to expand our open, data-driven system for value-based care in surgery.”

In case you missed it

RSS From Medical Design & Outsourcing

  • 6 Steps for Winning at Life Sciences Bid Management
    By Bob Steller, Industry Principal – Life Sciences Discover the secret to success for planning, executing—and winning—profitable bids Did you know that 85% of revenue in the medical technology market comes through bids and tenders? For Life Sciences companies like yours, one key to building and expanding your business is mastering the art and science… […]
  • Digital Pump Customization: Unlocking the True Potential of BLDC Motors
    By using advanced electric motors, a variety of motor and pump parameters can be customized to individual customer needs. It is becoming increasingly more valuable to be able to monitor all electronic components on board medical devices. By taking advantage of the full capabilities and digital customization of brushless direct current (BLDC) motor controllers, pumps… […]
  • Why Automate? Justification and Impact Explained
    Do you want to integrate automation into your manufacturing process but you’re unsure where to start? Maybe your biggest hurdle is justifying the costs associated with the change. Effectively communicating the reasons why and the ROI to all stakeholders in this major shift is a necessary starting point. Justifying the Need to Automate Increased production… […]
  • In vivo electroporation is an engineering solution for drug and gene delivery
    Why the new buzz about an old technique? Harness the potential of an existing technology for modern medicine. Daniel Friedrichs, Minnetronix Medical Reversible electroporation is the use of an electric field to open pores in a cell wall, allowing transport of drugs, DNA or other “cargo” into a cell — in particular, allowing delivery of… […]
  • FDA and VA Ventures Innovation Institute partner on new medical device testing tools
    The Department of Veterans Affairs’ VA Ventures Innovation Institute in Seattle will host up to a dozen FDA staffers in a new collaboration to develop and share new tools for medical device testing safety and efficacy. The agencies intend to provide developers of devices and new technology with off-the-shelf tools that can help streamline regulatory… […]
  • How Boston Scientific is managing labor shortages with cobots and Spanish
    Boston Scientific (NYSE: BSX) executives said two labor-shortage strategies are paying off in a big way for the medical device maker, which has around 41,000 employees across the globe. Collaborative robotics and Spanish-speaking shifts are helping Boston Scientific deal with labor shortages in the U.S. and elsewhere. That’s according to Global Operations EVP Brad Sorenson… […]
  • 6 power management considerations for developing and scaling smaller, smarter micromedical devices
    Supercharge every phase of micromedical device product development with these questions. Mitch Johnson, Intricon Some of the biggest considerations for designing, manufacturing and scaling today’s smaller, smarter medical innovations center on providing power to microelectronic systems. From mechanical functionality to data operations and wireless communications, effective power management drives continued device innovation. Addressing five fundamental… […]
  • Evonik, Coopmed agree on wound dressing distro deal
    Evonik announced today that it signed an agreement for medical technology company Coopmed to distribute the epicite wound dressing. Jena, Germany-based Evonik said Coopmed will distribute the epicite dressing made from biosynthetic cellulose exclusively to the German market for chronic wound care. Epicite represents part of the portfolio from JeNaCell, which Evonik acquired in 2021.… […]
  • Spartech hires Bosch VP Dan Gallo as chief operating officer
    Spartech today said it hired Dan Gallo as chief operating officer of the engineered thermoplastics and custom packaging manufacturer. Gallo started this month, according to his LinkedIn page. His career leading operations, supply chain and logistics functions spans more than three decades. He was most recently an operations VP at Robert Bosch. Before his time… […]
  • 3M launches Verify platform to spot counterfeit products
    3M (NYSE:MMM) announced today that it established a new 3M Verify platform to report potential counterfeit 3M products. The effort builds upon its anti-counterfeit efforts during the height of the COVID-19 pandemic. At the time, a number of sellers claimed to offer 3M respirators. Instead, many offered fake, defective and damaged N95 masks at inflated… […]
  • FDA will review fewer COVID-19 test EUA submissions
    The FDA is pushing COVID-19 test developers away from emergency use authorization (EUA) submissions in favor of more traditional pathways, the agency said today. The FDA said it intends to review “only a small subset” of new EUA submissions, encouraging test makers to seek regulatory approval through de novo classification or 510(k) clearance pre-market review… […]