Caresyntax, a Boston-based startup looking to bring automation and artificial intelligence to the operating room, has garnered $45.6 million in new funding and picked up an OR-focused data firm to broaden its footprint.
The company acquired Syus, an established provider of cost analytics and operations software to hospitals, giving caresyntax access to a platform already in use in more than 100 U.S. hospitals and health systems.
Syus’ system links with hospitals, medical device vendors and anesthesia providers to deliver efficiency and performance metrics while collating data from electronic health records, human resources and other health IT services.
“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,” caresyntax co-founder and CEO Dennis Kogan said in a statement. “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.”
Caresyntax has now raised a total of $77.5 million in investments, with the latest financing coming from Whiz Partners, the Takeda-backed DDG Fund, Plug and Play, Barco Healthcare, Mitsubishi, Relyens and IPF Partners as well as caresyntax’s founders. The company previously collected $31.9 million in June 2018, led by Norgine Ventures and surgical.AI.
In the past year, caresyntax has launched partnerships with Mitsubishi subsidiary MC Healthcare, imaging and workflow-focused Barco, Swiss hospital system Insel Gruppe AG and the University of Wisconsin in Madison. Caresyntax also works with the University of California, San Diego, the University of Strasbourg, Hill-Rom and Medtronic.
“Through our partnership with caresyntax, we intend to expand the Barco Nexxis solution for digital operating rooms with caresyntax surgical automation and AI technologies to improve overall surgical decision making, efficiency and performance,” said Filip Pintelon, senior vice president and general manager of healthcare at Barco.
Caresyntax says that through Syus’ and its own work, its technologies are being used in more than 7,000 operating rooms internationally, covering at least 9 million annual procedures.