Led · Series C · Jun 2021

Hospital IQ offers a cloud-based operations management platform that combines advanced data analytics, machine learning and simulation technology with an intuitive user interface to optimize surgical resource alignment, patient flow, and staff scheduling. Its AI-enabled platform integrates predictive analytics, workflows and communications to drive measurable operational improvements for hospitals and health systems. The company says hundreds of hospitals and health systems rely on its software and that it has become an industry standard in capacity operations management and optimization. Hospital IQ reported a record year in which revenue more than doubled, its customer base grew by 50%, and platform utilization increased 14x. The company plans to use new funding to accelerate product development, sales and marketing, client services, and to expand partnerships including Allscripts and Cerner. Hospital IQ also intends to hire aggressively, targeting 50% headcount growth by year-end and 100% growth within the next 12 months. PatientRoute Systems builds a predictive analytics platform used by hospitals and surgical centers to detect operational patterns and help reduce readmissions, shorten length of stay, improve on-time surgery starts, and reduce turnover time. The platform is aimed at analysts and department heads and is designed to support hospital clinical policy. The company currently serves clients across six states and focuses on hospitals and surgical centers with more than 400 beds. Customers include Greater Baltimore Medical Center and Boston Medical Center. PatientRoute was founded by CEO Rich Krueger in 2013 and is based in Boston. It raised $7 million to expand its platform and plans to use the capital to double its 12-person team, ideally by the end of the year.

Participated · Equity · Oct 2020

Founded in 2013 in Reykjavík, Alvotech focuses on the development and large-scale manufacture of biosimilar drugs. The company already has five biosimilars on the market, including equivalents to Humira, Stelara, Simponi, Eylea and Prolia/Xgeva. Its pipeline encompasses 30 products, with nine disclosed candidates targeting autoimmune, eye and respiratory diseases, osteoporosis and cancer, and it plans four additional global launches by 2026. To support this growth, Alvotech is expanding production capacity and fortifying its supply chain while leveraging a broad network of commercial partners across the United States, Europe, Asia, South America, Africa and the Middle East. Management positions the firm to become a global biosimilar leader by pairing R&D scale with manufacturing expertise. Recent financings—including term loans, convertible bonds and refinancing transactions—have bolstered liquidity for continued R&D investment and operational expansion.

Participated · Series C · Sep 2020

Medasense's core product is the PMD-200 platform, a non‑invasive multisensor finger probe and AI algorithms that convert physiological signals into a continuous NOL® pain index for sedated patients. The system is CE‑marked and is distributed in Europe through an exclusive agreement with Medtronic; it also has approvals for promotion in Canada, Latin America, Israel and Australia and can connect to Philips patient monitors. The company has applied its technology in operating rooms and ICUs and reported deployment use during the COVID‑19 pandemic for ventilated patients. Medasense maintains teams in Tel Aviv, Germany and Barcelona and is led by CEO Galit Zuckerman. The company completed an $18M Series C and plans to use the proceeds to expand and consolidate its European commercial presence and to pursue FDA approval to enter the U.S. market in the coming years. Medasense Biometrics Ltd. is a Ramat Gan, Israel–based developer of a proprietary objective pain monitoring technology. Led by founder and CEO Galit Zuckerman, the company’s flagship product is PMD-200™, an objective pain monitoring system for operating rooms and critical care where patients under general anesthesia cannot communicate pain. The system combines a non-invasive finger probe that records multiple pain-related physiological signals with a PMD-200 monitor that uses a composite algorithm to produce a real-time pain level index called NoL™. The technology applies a multi-parametric approach and advanced statistical modeling to convert complex data into a patient’s “Signature of Pain.” The company intends to use its recent financing to accelerate commercialization of the PMD-200™.

Led · Series B · Nov 2018

Prescient Surgical develops advanced tools and technologies to fight the sources of surgical site infection, principally its CleanCision active cleansing therapy. CleanCision was designed by surgeons and infection‑control experts to continuously clear harmful bacteria from the surgical site during procedures. The therapy is commercially available in the United States and approved for use in Europe. The company is working with leading hospital systems to integrate CleanCision into infection‑control protocols. The latest financing will fund company growth and accelerate broader availability of the product. Prescient Surgical is based in San Carlos, Calif. Prescient Surgical is developing a platform that integrates fluid delivery with a novel wound retraction and protection system and is currently undergoing clinical trials. The company has been intentionally vague about technical specifics while advancing clinical validation. Its initial product rollout is focused on abdominal and laparoscopic surgeries, with plans to expand into vascular, orthopedic, and endocrine procedures. Prescient was cofounded in 2012 and is led by president Jonathon Coe, a device-industry veteran and former Stanford Biodesign Innovation Fellow. According to a regulatory filing, the company has raised about $6 million. The technology is positioned to address surgical site infections, which studies show cost roughly $21,000 to treat on average, extend hospital stays by about 10 days, and occur in roughly 2–5% of inpatient surgeries (rising as high as 26% for some abdominal GI operations).

Participated · Series D · Aug 2018

Outset Medical develops the Tablo Hemodialysis System, an FDA‑cleared enterprise dialysis platform designed to reduce the cost and complexity of dialysis across acute and chronic care settings. The mobile Tablo system requires only an electrical outlet and tap water, enabling it to operate without the infrastructure demands of conventional dialysis machines. Its integrated functionality allows providers to use the device as a clinic on wheels and to standardize on a single platform across a wide spectrum of care settings. Led by CEO Leslie Trigg, the company is focused on commercial expansion of Tablo across the United States. The company completed a significant equity financing in 2020 to fund that commercial growth. Outset Medical develops and commercializes the Tablo Hemodialysis System, an integrated dialysis unit with real-time water purification and on-demand dialysis fluid production designed to reduce cost and complexity. Tablo operates with just an electrical outlet and tap water and includes wireless data, sensor-based automation, and an animated touchscreen to simplify use for clinicians and patients. The system is CE-marked and FDA-cleared for acute and chronic care settings, and the company is conducting a clinical trial to expand Tablo’s labeled indication to include home use. Outset says Tablo enables more flexible, on-demand dialysis in a range of care environments and is intended to lower overall dialysis spend. The company highlights the large dialysis market opportunity—more than 500,000 U.S. patients and roughly 91 million U.S. dialysis treatments annually at an estimated $65 billion cost—while positioning Tablo as a disruptive product within that market. Proceeds from the recent financing will be used to increase production capacity and accelerate commercial expansion in acute and chronic U.S. markets. Outset Medical develops the Tablo Hemodialysis System, a compact, sensor-automated dialysis machine designed for use across dialysis clinics, hospitals and skilled nursing facilities. Tablo connects to regular tap water, purifies it on demand, and generates streaming dialysis fluid in real time while the patient is dialyzing. The system uses sensor-based automation, wireless data transmission and an easy touchscreen interface and was created to feel and function more like a consumer product. Tablo’s simplicity and small size enable a “self-serve” dialysis model in which patients can set up and monitor their own treatments, potentially reducing staffing needs and infrastructure costs. Tablo is CE-marked and FDA-cleared for acute and chronic care, and the company is sponsoring an IDE trial to expand its labeled indication to include home use. Outset will use the proceeds of its recent financing to expand the commercial introduction of Tablo in acute and chronic U.S. care markets; the company is commercial-stage in a $13 billion global dialysis market where over half-a-million U.S. patients receive dialysis and more than 78 million U.S. treatments occur annually at an estimated $42 billion cost. Outset Medical's core product is the Tablo System, described as a 35-inch dialysis clinic on wheels that combines consumer product simplicity, wireless connectivity and real-time integrated water purification. Tablo is FDA-cleared for use in acute and chronic care settings such as dialysis clinics and hospitals and generates dialysate in real time while purifying tap water on demand. The system requires less than half the number of setup steps compared to incumbent dialysis machines and uses a touchscreen with step-by-step 3-D animation and conversational instructions to enable a self-guided experience. Tablo also transmits clinical data wirelessly to care providers, which the company says can reduce reliance on expensive clinic infrastructure. Outset will use the recent financing to begin a controlled commercial introduction this year and to pursue expanded FDA clearance to allow patients to use Tablo at home; the FDA approved an IDE trial to evaluate home use. The company is based in San Jose, Calif., and is backed by investors including Warburg Pincus, Fidelity Research and Management Company, Perceptive Advisors, Partner Fund Management LP, The Vertical Group and CRG.