Berlin-based precision surgery software company Caresyntax secured $180 million in a Series C extension funding round. The financing comprises $80 million of equity and up to $100 million of growth debt facility.
Investment details
Investors in the $180 million round include 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 (which invested in Natural Cycles and OrganOX), Plug & Play Growth Fund, and ProAssurance Corp.
The capital is being used for scaling customer adoption of surgical software tools and for continued development of the company’s AI and edge-to-cloud applications. The round also enables the Caresyntax M&A strategy, with the company acquiring several US surgical data and technology assets in 2023 and looking to complete several acquisitions in 2024 and going forward.
Since the initial closure of its Series C funding round, the company has launched innovative AI products which are being leveraged by care teams internationally, and opened new markets relating to insurance underwriting and medtech clinical outcome analysis.
Katrin Vatiska, Investment Partner at MTIP: “MTIP proudly backs the forefront of surgical intelligence through our investment in Caresyntax. 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. This investment reflects our commitment to supporting innovative solutions that enhance patient care and empower healthcare professionals globally. Together, we’re driving the future of smarter and safer surgeries, making a meaningful impact on the world.”
Himani Bhalla, Chief Investment Officer of Symbiotic Capital: “Symbiotic is thrilled to support Caresyntax in its mission to enhance surgical outcomes through its innovative platform, delivering benefits to stakeholders throughout the healthcare ecosystem. We were impressed with Caresyntax’s growth across hospitals, medtechs, and insurers and look forward to working together to continue to scale their platform”
Patrick Pfeffer, CEO of Aescuvest: “Caresyntax is uniquely positioned to revolutionize the operating room—presently a black box—by transforming it into a data lake. This transformation is aimed at enhancing surgical procedures to make them smarter, safer, and more broadly accessible.”
What does the company do?
Co-founded by Dennis Kogan and Bjoern Von Siemens, Caresyntax is on a mission to make surgery smarter and safer, by converging AI-powered software, devices, and clinical services to improve patient outcomes. Its precision surgery platform delivers actionable insights to improve patient outcomes.
The company’s proprietary software and AI platform is capturing and analysing large volumes of video, audio, images, device data, clinical, and operational data. The software and automation platform can be used by the care team live, during a procedure, and accessed by those outside the operating room via the platform’s secured dedicated cloud and telehealth links.
The Caresyntax platform provides meta-data insights and real-world evidence (RWE) that help surgeons and teams improve their care, hospital administrators use resources more efficiently, and medical device companies advance products. It also supports insurance companies to understand and control risks, as well as enable contracts on a value-based model.
Currently, the software is being used in more than 3,000 operating rooms worldwide and supports surgical teams in more than three million procedures per year.
Bjoern von Siemens, CFO and CBO of Caresyntax: “We are grateful for this significant investment in Caresyntax, which strengthens our balance sheet at an important inflection point for the adoption of digital surgery, AI, and automation tools. The capital enables Caresyntax to deliver increased growth momentum, platform adoption, and customer ROI; it also catalyzes M&A and corporate development opportunities.”
Dennis Kogan, Co-Founder and CEO of Caresyntax: “Together with our partners and investors, we are working towards deploying precision surgical tools, empowered by data and AI, to improve patient outcomes. This financing is not just an investment in Caresyntax, but an investment 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.”
