caresyntax, a provider of automation and artificial intelligence solutions for the operating room, raised $45.6 million in new funding.
The funding round was led by Whiz Partners, a Takeda-backed Drug Discovery Gateway Investment Limited Partnership (“DDG Fund”) with participation from Plug and Play, Barco Healthcare, Mitsubishi Corporation, Relyens, and IPF Partners. With this latest investment, the company has now raised a total of $77.5 million.
caresyntax will use the new funds to accelerate its market expansion and support further advancement and deployment of surgical intelligence and automation technologies.
The caresyntax platform collects structured and unstructured data from disparate sources such as operating rooms, electronic health records, and medical devices. The company generates quality data for improved clinical decisions.
caresyntax also announced the acquisition of Syus, a provider of online analytics and operational decision support tool. The terms of the purchase were not disclosed in the company press release.
The acquisition will further expand caresyntax’s global footprint to more than 7,000 operating rooms, including over 1,100 in the United States, and enhances the company’s capabilities in AI and the use of real-world evidence with the addition of data from over 9 million surgical cases.
Syus works with various healthcare organizations, including Catholic Health Initiatives, Universal Health Services, Inova, Saint Thomas Health, Health First, Methodist Le Bonheur Healthcare, OU Medical Center, Gillette Children’s, LifePoint hospitals, and select healthcare associations.
“Syus is a natural strategic fit for caresyntax as we are both harnessing advanced data analytics to improve outcomes and efficiencies across the surgical ecosystem,” said Dennis Kogan, Co-Founder and Chief Executive Officer of caresyntax. “The combination of Syus’ powerful operational efficiency and cost analytics with our surgical safety and interoperability platform will greatly expand our ability to deliver deeper, more comprehensive insights across a variety of surgical, financial and risk-management use cases. Additionally, this acquisition will allow us to more rapidly expand our footprint in the U.S. We are excited to partner with Syus and look forward to working with their talented and passionate team.”
Similar technologies that received funding include:
Respirix, a provider cardiac monitoring solutions for critical care, operating rooms, and heart failure patients, raised $1.3 million funding and nView medical, a developer of AI-enabled medical imaging software for the operating room, which raised $1.2 million.