The company’s sales grew more than 6x during the pandemic and won 10 customers in 3 months
Surgery is much less risky than ever because the death rate has dropped significantly from 20 years. This is mainly thanks to technological advances such as laparoscopy or robotic surgery, but the risks remain. For example, open heart surgery has a surgical death rate of over 12% and a complication rate of 31.5%.
The best way to create efficiency and consistency across surgical procedures is to put more technology in the hands of surgeons. That’s the idea behind ExplORer Surgical, which provides a platform of video, digital procedural playbooks and real-time intraoperative data capabilities that surgeons can be connected to from anywhere in the world.
The company, which emerged from a research laboratory at the University of Chicago Medical Center in the Department of Surgery, which examined operating room workflow and operating room efficiency, announced a $ 2.5 million funding round headed by Aphelion Capital. All existing major investors as well as new investors, including the Sofia Fund, participated. With this new funding, ExplORer has now raised more than $ 11 million in funding.
ExplORer Surgical works with Medical device companies “closely associated with procedural support,” said Jennifer Fried, CEO and co-founder of the company.
“We operate in a variety of environments including hospital, ASC, and office-based laboratories, regions, and interventional specialties. Our most common use cases are virtual surveillance, case support, clinical trial data collection, and product launch.”
The company has “three key pillars” that make this possible, she explained, tIt is first and foremost a digital playbook that shows best practices live during the process. Step-by-step assignment of procedures and from role to role. All of the content is then made available in real time during the process so there aren’t any need to refer to physical notebooks or text a colleague.
The second pillar is intraoperative data acquisition that replaces The clipboards, pens, and papers that field clinical engineers typically use to collect data, as well as the Salesforce dashboards that are often not filled out by field workers.
“We’re eliminating the friction and adding time-stamped, real-time data capture to our platform so your team can easily capture all of the important information in one place,” said Fried.
The third pillar is the latest product addition from ExplORer Surgical: compliant remote connectivity that aEnables its customers to remotely integrate any team member into any procedural suite at any time, regardless of where they are in the world. The company started his remote case support function in early 2020 in response to COVID, Connect surgical teams with medical device representatives who could not be in the room with them. These Thanks to the ability alone, the company’s sales increased sixfold last year.
“This feature provides HIPAA-compliant two-way video and remote monitoring of the platform’s existing and unique procedural workflow and creates the first digitized playbook for all surgical roles available remotely from anywhere in the world,” said Fried .
“In addition to the ExplORer video feed, the entire surgical team can now receive step-by-step, role-specific workflows for digital procedures and tailored instructions to be better prepared and achieve positive patient outcomes.”
The combination of these three pillars, the digital playbook, the data acquisition and now the remote functions enables the company She said they can add value to their medtech customers and choose how much of each feature they need based on their use case or product.
In addition to its top-line growth, ExplORer recently announced that it has gained more than 10 new medical device customers in less than three months, including some of the largest global medtech companies as well as startup companies like Prytime. More than 1,000 unique procedures have been created on the ExplORer platform.
The company plans to use its new funds to grow from 30 to around 50 employees, particularly expanding its technology, marketing and customer success teams and bringing additional technology updates to its platform. There are also plans to raise another round of funding later this year.
ExplORer Surgical’s goal is to be the global software platform that supports procedural data and connectivity. The company will measure its success by the number of patient lives it touches each day, Fried said.
“The healthcare ecosystem is digital and remote using digital and remote at record speeds, which is incredibly exciting. The intra-operative environment has usually been late in adopting new technology with so much at stake. We are excited to be a digital enabler for the US surgical and procedural environment. “
(Image source: explorersurgical.com)