Lauxera Capital Partners has made an investment in Caresyntax as part of a USD100 million Series C fundraise. Other new investors include PFM Health Sciences LP, Optum Ventures, Intel Capital, Vesalius Biocapital Partners, Arno Capital, and Reyazat Investments.
Existing investors Relyens, IPF Partners, and Surgical.AI also participated in the round.
Alex Slack, Chief Investment Officer, and co-founder of Lauxera Capital Partners will take roles on the Board’s strategy and audit and risk committees.
Caresyntax operates the leading, AI-driven, enterprise-grade platform for collecting, tracking, and analysing data on surgical procedures to enhance outcomes and patient safety. Through an innovative partnership strategy combined with direct focus on customer success, Caresyntax grew new contract value 250 per cent year-over-year in 2020. The company’s solutions are present in over 4,000 operating rooms (OR’s) today, adding four surgeries per minute to an increasingly compelling dataset already in the single-digit millions of procedures.
Caresyntax was founded in and maintains its primary R&D and operations hub in Berlin, but also has a significant presence in the United States. In Europe, the company has developed a particularly strong footprint in France and Germany. The University Hospital of Strasbourg is a leading customer, using the Caresyntax platform to enrich orthopaedic training, improve surgeon scores, and track patient risk. Caresyntax has also expanded rapidly into the US anchored by the acquisition of Syus – an OR operations and cost analytics solution – in late-2019 and collaborations with leading institutions like University of Iowa Health Care and University of Massachusetts Medical School.
The company’s AI-driven software platform has a proven, measurable impact on surgical efficiency and outcomes, reducing patient complications, OR downtime, and unneeded costs to health systems. In recognition of these impacts, Relyens, one of the largest medical malpractice reinsurers in Europe headquartered in Lyon, France, relies on Caresyntax to help manage surgical risk, utilising the company’s platform for video and other real-world, data-based assessments linked to patient outcomes.
“What attracted us to Caresyntax, beyond its visionary co-founders and sharp commercial and R&D teams, was the company’s ‘win-win-win’ formula that addresses patient safety and OR costs while delighting its base of enthusiastic surgeon users,” says Slack. “We plan to bring our team’s global experience in commercialising new healthcare innovations at the deal-by-deal and at the strategic level to support and enhance Caresyntax’s mission to make surgery smarter and safer.”
“Our company is thrilled to welcome Lauxera to its investor base,” adds Dennis Kogan, CEO and co-founder of Caresyntax. “To achieve our ambitions, we must deliver value and insights to many stakeholders through different channels and in different geographies. Lauxera’s mix of directly-relevant operational experience in both the US and EU, combined with deep investment expertise in our market space will prove valuable in the years ahead.”