Caresyntax extends Series C funding to $130 Million to further accelerate growth


DGAP-Media / 16.09.2021 / 11:55

Caresyntax extends Series C funding to $130 Million to further accelerate growth
  • New investors include funds managed by BlackRock, ProAssurance, and Harmonix
  • $30 million extension raises Series C funding to a total of $130 million
  • Funding to drive further development of platform and new data solutions, building upon momentum in healthcare space

BERLIN 16.09.2021 - Caresyntax, the leading enterprise-level digital surgery platform delivering actionable insights to make surgery smarter and safer, today announced a $30 million extension to its Series C funding round, initially led by PFM Health Sciences, LP. Selected investors include funds and accounts managed by BlackRock, as well as ProAssurance, Harmonix, and existing investors, such as the Relyens Group and IPF Partners. The additional investment brings the total Series C funding to $130 million, building on the funding round in April 2021. That round also included investments from Optum Ventures, Intel Capital, Lauxera Capital Partners, Vesalius Biocapital III, Arno Capital, Rezayat Investments, and Surgical.AI. The funding will be used to continue developing its platform as well as advance new data solutions that support value-based care providers.

"We are delighted to welcome BlackRock, ProAssurance, and Harmonix on board", said Björn von Siemens, Caresyntax Co-Founder and Chief Business Officer. "Their support will enable us to expand our open, data-driven system for better care in surgery, building upon the existing momentum in the healthcare space."

Caresyntax's digital surgery platform uses proprietary software and AI to analyse large amounts of real-world data in and around the operating room, providing insights that can be used by the care team and by a variety of key stakeholders to evaluate and improve care. Caresyntax also provides virtual, real-time access to outside experts, such as medical school instructors. Additional research found that in 2020, Caresyntax customers were better prepared to handle the ebbs and flows of surgical case surges, completing 16-percent more surgeries than the US average.

"Post-operative complications are one of the biggest cost drivers of surgical care," said Ned Rand, President and CEO of ProAssurance Corporation, which insures more than 100,000 health care providers nationwide. "As health care liability and risk management evolves in complexity, objective data will be increasingly important in evaluating - and improving - the life-saving care delivered in the operating room. Technology of the kind Caresyntax has developed is exactly in keeping with our mission to protect others."

Caresyntax has worked with Relyens, one of the largest medical malpractice reinsurers in Europe, to manage surgical risk by using its platform for video and other real-world data evaluations associated with patient outcomes. The company develops, benchmarks, and promotes risk sharing, risk mitigation and value-based care models. Now, Caresyntax will expand its liability insurance and risk management model in the United States.

The Series C extension follows important milestones for the company. Caresyntax was selected by the "American Board of Surgery" (ABS) to provide a platform for its pilot program incorporating video-based assessments into ABS' board certification process. Research recently published in the "Journal of Hand Surgery" showed that surgeons who used Caresyntax's video support for targeted practice improved surgical performance and reduced operative risk.

About Caresyntax:

Caresyntax is on a mission to make surgery smarter and safer. Our enterprise-grade digital surgery platform delivers actionable insights to improve patient outcomes by using proprietary software and AI to analyse large volumes of video, audio, images, device data, clinical, and operational data in and around the OR. This real-world evidence can be used by the care team live, during a procedure and accessed by those outside the operating room via the platform's dedicated telehealth link. After a procedure, the Caresyntax platform provides insights that help: surgeons benchmark and improve their care, hospital administrators use surgical resources more efficiently, medical device companies advance better products, and insurance companies understand risk and devise more tailored policies. Founded by entrepreneurs Dennis Kogan and Björn von Siemens, Caresyntax software is used in more than 4,000 operating rooms worldwide and supports surgical teams in over two million procedures per year. For more information, visit us at www.caresyntax.com.


Kekst CNC
E: [email protected]


End of Media Release

Issuer: Caresyntax
Key word(s): Finance

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Die wichtigsten Finanzdaten auf einen Blick
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EBITDA1,2 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBITDA-Marge3 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBIT1,4 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBIT-Marge5 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Jahresüberschuss1 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Netto-Marge6 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Cashflow1,7 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Ergebnis je Aktie8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de


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