Synaptive Medical is a Toronto-based global medical technology company focused on improving outcomes across surgery, imaging, and data integration for neurosurgical care. Its integrated product suite includes Modus X, Modus Nav, Modus Plan and a dedicated MRI platform, alongside neuro-navigation and robotic visualization tools. The company completed a strategic restructuring while maintaining uninterrupted customer support, delivering major software upgrades and launching new collaborations with medical centers in the U.S. and Europe. Leadership says the newly secured private investment will bring Synaptive to profitability and support execution of its innovation roadmap. Synaptive was wholly acquired by a mission-aligned consortium of MedTech executives, clinicians, and experienced investors and added neurosurgeon Dr. Joshua Bernstock as an incoming board member. The investment is described as the first phase of a broader capital initiative, with additional funding expected to accelerate product development and commercialization. Synaptive Medical is a Toronto-based, high-growth medical technology company that develops surgical, imaging, and data solutions, including a head-only 0.5T Magnetic Resonance Imaging (MRI) system. The company’s 0.5T Synaptive MRI is designed to improve accessibility and rapid cranial diagnosis in time-sensitive cases such as brain tumour and stroke. The announced project will expand Synaptive’s manufacturing and R&D activities related to that head-only MRI system and broader product suite. Synaptive’s product portfolio also spans surgical planning, navigation, and robotic visualization, intended to deliver patient-centric information and automated efficiency across clinical interventions. The company received provincial support—a $900,000 grant from the Ontario Together Fund—toward a $2.8 million project budget to scale manufacturing and R&D. This is the second Ontario Together Fund project for Synaptive; in July 2021 it received $153,300 toward a $204,400 prototype drape development project. Synaptive Medical is a Toronto-based medical technology company that develops surgical robotics, mid-field MRI, surgical planning and navigation software, and integrated data platforms for operating rooms. Its products include the Modus V robotic exoscope, Modus Nav, Modus Plan and a mid-field MRI, which together form a fully integrated surgical suite that automates patient data across interventions. Synaptive’s technology is developed and manufactured in Canada and has been installed in 120 medical institutions across 20 countries. The company announced ongoing innovations planned for 2023 and beyond and intends to use new funding to expand clinician access and commercial capabilities. Financially, Synaptive secured a USD $40 million investment from Export Development Canada as part of a USD $50 million financing round to accelerate its surgical, imaging and data technologies. The partnership with EDC is positioned to accelerate development and international expansion of Synaptive’s portfolio. Synaptive Medical develops integrated hardware and software products for diagnostic imaging, surgical planning, navigation and robotic visualization, with particular focus on neurological and orthopedic applications. Its modular offerings include MRI cranial imaging, enhanced surgical planning and intraoperative visualization, and are designed for seamless integration across clinical workflows. The company emphasizes automation and optimized workflow to support medical decision‑making and improve patient outcomes. Synaptive also supports medical informatics and AI research as part of its product suite. The company announced a $17.0M preferred equity financing to support broader availability of its products and entry into the greater China market. Synaptive is headquartered in Toronto and has appointed a new distribution partner, Cicel Science and Technology (Beijing), for China market access. Synaptive Medical develops a suite of fully automated cranial and spinal hardware and software products, including Modus V and integrated BrightMatter solutions for surgical planning, navigation, visualization and medical informatics. The company offers seven primary, modular products designed to integrate with each other or third‑party systems to improve workflow and clinical decision‑making. Synaptive also provides research tools focused on large‑scale medical imaging and AI informatics. The company says the financing will enable broader availability of its product offering to enhance patient care in neurological and orthopedic settings. Financially, Synaptive completed a preferred equity financing and, as part of the closing, approximately $50,000,000 of the company’s debt converted into equity. Synaptive is described in the filing as a leader in automation and robotics focused on improving care in and beyond the operating room.

Total raised

$83M

Funding rounds

6

Latest round

Equity

Latest activity

Aug 2023