Caresyntax, a Berlin-based precision surgery software company, has secured $180 million in a Series C extension funding round. The financing includes $80 million in equity and up to $100 million in growth debt facility, underscoring investor confidence in the company’s AI-powered surgical platform.
Investment Details and Key Investors:
The $180 million round attracted a diverse group of investors, including Symbiotic Capital, MTIP AG, BIONIQ Capital, PFM Health Sciences, Pictet Alternative Advisors, surgical.ai, BlackRock Innovation Capital, Aescuvest, Optum Ventures, Cure Capital, Relyens Group, Vesalius Biocapital, Lauxera Capital, Plug & Play Growth Fund, and ProAssurance Corp. This robust backing highlights the strong market interest in technologies that enhance surgical precision and patient outcomes.
Growth and Expansion Plans:
- Scaling Customer Adoption:
The fresh capital will be used to accelerate the adoption of Caresyntax’s surgical software tools across hospitals and healthcare providers worldwide. The company is focused on scaling its AI and edge-to-cloud applications, which provide real-time insights to surgical teams. - Advancing AI and Technology Development:
Caresyntax plans to continue developing its AI-powered platform, which captures and analyzes vast amounts of surgical data, including video, audio, images, and operational data. These innovations are designed to improve the precision and safety of surgical procedures, ultimately leading to better patient outcomes. - Strategic Acquisitions:
As part of its growth strategy, Caresyntax has been actively acquiring US-based surgical data and technology assets. The company is looking to complete additional acquisitions in 2024 and beyond, further enhancing its platform’s capabilities and expanding its market presence. - Global Market Expansion:
With its software currently used in over 3,000 operating rooms worldwide and supporting more than three million procedures annually, Caresyntax is well-positioned to expand its reach. The company aims to enter new markets related to insurance underwriting and medtech clinical outcome analysis, providing a broader range of solutions to healthcare stakeholders.
Leadership and Vision:
Bjoern von Siemens, CFO and CBO of Caresyntax, emphasized the importance of this investment at a crucial point for the adoption of digital surgery tools. He noted that the funding will drive platform adoption, customer ROI, and support the company’s M&A activities.
Dennis Kogan, Co-Founder and CEO of Caresyntax, expressed gratitude to the investors, stating that this financing is an investment in the future of surgery. He highlighted the company’s mission to deploy precision surgical tools powered by data and AI to improve patient outcomes.
Impact on Healthcare:
Caresyntax’s platform is revolutionizing the operating room by transforming it into a data-rich environment, often referred to as a “data lake,” where surgical procedures are enhanced through smart, data-driven insights. The platform’s ability to deliver real-world evidence (RWE) helps surgeons improve their techniques, enables hospitals to optimize resources, and allows medical device companies to advance their products. It also provides insurance companies with tools to better understand and manage surgical risks, paving the way for value-based contracts.
Investor Support and Industry Impact:
Katrin Vatiska, Investment Partner at MTIP, praised Caresyntax’s unique platform approach, which integrates workflow software with data-driven solutions. Himani Bhalla, Chief Investment Officer of Symbiotic Capital, highlighted the company’s growth and the benefits it brings to the healthcare ecosystem. Patrick Pfeffer, CEO of Aescuvest, remarked on Caresyntax’s potential to revolutionize the operating room by transforming it into a smart, safer space.
With this substantial investment, Caresyntax is poised to continue leading the way in the digital transformation of surgery, making significant strides in improving surgical outcomes and patient care globally.
