Avail Medsystems, a telemedicine provider for the procedure room, raised $100 million in Series B funding led by D1 Capital Partners, with participation from 8VC and existing investors.
Today, between 25-100% of surgeries, depending on the type of procedure, require surgical teams to partner with outside experts, who need to be present in-person to complete surgery, according to the company.
Avail offers a procedural telemedicine system that digitizes physical presence and enables on-the-go, HIPAA compliant collaboration among a network of healthcare professionals and industry experts.
The system consists of a portable console used by surgeons in the operating room, paired with a versatile app for experts advising remotely on the procedure.
According to the company, “the procedural telemedicine system specifically developed for the operating room enables surgeons, outside experts, and the healthcare ecosystem to better serve patients by delivering the right knowledge, at the right time, to the right people.”
The Avail System is supported by the Avail Portal, a secure online platform used by its medical industry experts and physicians’ network. The Portal allows users to easily manage schedules, update availability in real-time, and collaborate at the click of a button. According to the company, the Portal also provides tools to support medical device representatives, particularly those in the field, to run their remote activities and business, including managing relationships, tracking historical utilization, and improving time management.
“With this additional funding, we will further improve access to medical expertise, save time and money for healthcare facilities, medical device companies, and ultimately patients, and enable more rapid adoption of new medical technologies,” said Daniel Hawkins, Avail Medsystems CEO.
Avail previously raised $25 million in Series A and Series A-1 funding from investors, including Lux Capital, Coatue, Sonder Capital, Playground Global, Baidu Ventures, and Refractor Capital. The latest funding round brings the company’s total to date to over $125 million.