Participated · Debt Financing · May 2023

Patient21 operates a proprietary digital healthcare platform that manages the full patient cycle—online bookings, digital case histories, check-ins, billing and insurance—paired with more than 50 outpatient clinics across Germany. The company offers a patient-facing app, a doctor app and a clinic management system that steers patients to in-person care; more than 80% of clinics currently focus on dentistry. Patient21 handles over 300,000 patient visits annually and reports clinics become operationally profitable quickly, allowing expansion with relatively little equity capital per clinic. The startup says most of its new funding will go toward software development to enhance platform capabilities, with potential future moves into telehealth as it expands into broader human medicine. Longer-term plans include licensing the booking and patient-management software and exploring franchise or partnership models to run clinics. Founded in Berlin in 2019, Patient21 intends to expand beyond Germany and expects to launch in two new European markets within the next 12 months.

Participated · Series C · Sep 2021

Caresyntax offers a vendor-neutral precision surgery platform led by CEO Dennis Kogan. Its proprietary software and AI captures and analyzes large volumes of video, audio, images, device, clinical and operational data in and around the operating room to deliver actionable insights, meta-data and real-world evidence. The software and automation platform can be used live during procedures and accessed by users outside the OR via secured dedicated cloud and telehealth links. The platform aims to help surgeons and care teams improve patient outcomes, enable hospital administrators to use resources more efficiently, assist medical device companies to advance products, and support insurers in understanding and controlling risks and enabling value-based contracts. Caresyntax serves over 30,000 surgical professionals across more than 3,000 operating rooms worldwide. The company raised $180M in Series C financing and intends to use the funds to expand operations and its development efforts. Caresyntax provides a digital surgery platform that uses proprietary software and artificial intelligence to analyze large volumes of video, audio, images, device, clinical, and operational data in and around the operating room. The platform delivers actionable insights for care teams and longer-term analytics for stakeholders such as surgeons, and offers virtual, real-time access to outside experts. Caresyntax's software is used in more than 4,000 operating rooms worldwide and supports surgical teams in over two million procedures per year. The company plans to use new funds to continue developing its platform and to advance new data solutions that support value-based care providers. The product emphasis is on improving patient outcomes through immediate and longer-term insights derived from real-world OR data. The company was founded by Dennis Kogan and Björn von Siemens. Caresyntax provides an enterprise-grade digital surgery platform that uses proprietary software and AI to analyze large volumes of video, audio, images, device, clinical, and operational data in and around the operating room. Its platform delivers real-world evidence that care teams can use live during procedures via a telehealth link and post-procedure for benchmarking and improvement. Hospitals can use the platform to manage surgical resources more efficiently, medical device companies can advance products, and insurers can better understand risk. The software is used in more than 4,000 operating rooms worldwide and supports surgical teams in over two million procedures per year. The company announced the acquisition of Syus at the close of 2019, extending its hospital footprint and analytics capabilities. Caresyntax intends to use the new funding to accelerate expansion in key markets, further R&D of its AI analytics, build out its platforms, and grow its employee base. caresyntax provides surgical intelligence and automation solutions that leverage IoT, analytics and AI to integrate data from medical devices, EHRs and other OR sources into a unified platform. Its offerings automate clinical and operational decision support for surgical teams and support outcome contributors across risk-bearing contracts. The company says its technologies are used in more than 7,000 operating rooms worldwide and support over 10 million procedures per year. Recent partnerships with organizations including Mitsubishi’s MC Healthcare, Barco Healthcare, Insel Gruppe AG and University of Wisconsin–Madison aim to expand R&D and global reach. caresyntax plans to use new capital to accelerate domestic and international growth and to further develop and deploy its surgical intelligence and automation technologies. The company works with providers, insurers and device vendors to inform device improvements, support data-driven underwriting and enable value-based contracting. Caresyntax provides a vendor-neutral platform that aggregates structured and unstructured data from operating room devices, electronic health records and other sources into unified dashboards for surgeons and hospital decision makers. Its offerings include PRIME365 OR integration and qvident surgical performance management software, which aim to reduce documentation time, automate workflows, and generate quality data for training and decision support. The company emphasizes granular analysis of surgical variation to recommend fixes that reduce readmissions, improve patient safety and streamline clinical workflows. Caresyntax reports an installed base of more than 6,000 operating rooms, supports over 10 million procedures per year and generates roughly 100 petabytes of high-fidelity data annually. It was launched in 2013 in Germany and established full-time North American operations and a headquarters in Boston in October. The company says it will use the new financing to grow its U.S. business and to develop machine learning and value-added applications for surgical risk management.

Participated · Series D · Aug 2020

Lumeon provides a Care Pathway Management (CPM) platform that automates patient care coordination to improve care quality and reduce costs. The platform uses real-time data to dynamically guide patients and care teams along care journeys and automates, orchestrates and virtualizes care delivery across settings. It integrates with all electronic health record (EHR) systems and ingests required clinical and administrative data from point solutions and devices to address fragmentation and interoperability challenges. More than 70 health systems across 12 countries have deployed Lumeon’s platform. The company intends to use the new funding to extend the reach of its platform. Lumeon is led by founder and CEO Robbie Hughes and is based in Boston, MA. Lumeon’s core product is its Care Pathway Management (CPM) platform, which deploys personalized care pathways combining intelligent orchestration, automation and advanced patient engagement. The platform builds on existing Electronic Health Records (EHR) to eliminate low-value activities, assure best practice, reduce operational costs and improve the patient experience while increasing revenue. Lumeon serves large health enterprises globally and manages over six million patients on its platform. The company positions CPM as an enterprise-wide capability for hospital CIOs rather than a set of point solutions. Lumeon has headquarters in the USA and Europe, with a Boston presence, and is focused on accelerating penetration in the U.S. market. The company recently secured new capital to scale commercial operations and accelerate customer deployments in the region. Qinec is a UK-based digital health company that offers Personalized Healthcare Management (PHM) via a cloud-based SaaS platform. The platform uses real-time data to orchestrate and tailor patient journeys, optimizing clinical and administrative workflows across outpatient specialties. Qinec supports millions of patient journeys a year across Europe and counts customers including Alliance Medical and Optegra Eye Health Care. The company says its solution improves outcomes for patients, providers and payers while reducing costs. Qinec will use the new funding to scale the team and further expand within a Healthcare IT market segment the article cites as predicted to be worth over $1.3 billion. The company is also strengthening its executive team with the appointment of Andrew Wyatt as Chief Operating Officer. Qinec is a web-based medical practice management platform that helps outpatient providers run appointments, records, prescribing and billing. It offers patient-facing iPad apps and has secured distribution and licensing agreements outside the UK, including in the US. The product targets outpatient care providers such as ophthalmologists and physiotherapists and was recently selected as the cloud platform for the UK outpatient network of a major blue-chip international insurer and healthcare provider. The company positions itself as a ‘Salesforce for doctors’ and aims to connect outpatient care to improve processes and outcomes. Qinec is led by CEO Robbie Hughes, who highlighted the opportunity to transform the economics of healthcare through joined-up, connected outpatient provision. The company recently completed new investor financing described below.

Led · Debt Financing · Nov 2016

Neuravi designs, develops and manufactures medical devices exclusively for the treatment of acute ischemic stroke. Its core product is the EmboTrap Revascularization Device, engineered with a proprietary dual-layer stent-like structure and an integrated distal protection zone to retrieve clot and reduce fragmentation. EmboTrap II has launched in Europe and the EmboTrap is available for investigational use in the U.S. under the ARISE II pivotal study, which will support an FDA submission. Through the Neuravi Thromboembolic Initiative, the company supports collaboration between engineers, clinicians and researchers and is building a pipeline of products focused on acute ischemic stroke. Neuravi announced €15 million in venture debt financing from IPF Partners to invest in U.S. commercialization and further R&D for its product pipeline. The company intends to commercialize this pipeline globally in the years ahead and aims to broaden the treatment toolbox available to stroke clinicians. Neuravi develops the EmboTrap Revascularization Device, a stent-like, dual-layer thrombectomy device with an integrated distal protection zone designed to capture and retain clot while reducing embolization risk. The EmboTrap is CE marked and commercially available in Europe and remains investigational in the United States. In a 42-patient case series presented at ESOC, treatment with EmboTrap restored significant blood flow in 86% of patients, with the majority recovering functional independence. The company supports collaborative research through the Neuravi Thromboembolic Initiative (NTI) to deepen understanding of clot mechanics and inform device design. Proceeds from the recent financing will fund European commercialization and the ARISE II clinical trial, which will begin enrolling patients this year at select U.S. and European centers. Neuravi is led by a team experienced in endovascular device development and global commercialization. Neuravi Limited is an Irish medical device company focused on developing a device to retrieve blood clots. The company’s core product aims to lower rates of ischemic stroke by removing occlusive clots. Neuravi completed a Series A financing to support further development of that device. The financing totaled $6.5 million (€5.2 million). The round was led by Fountain Healthcare Partners and Delta Partners. Proceeds are intended to advance the device’s development work.

Led · Debt Financing · Jan 2016

SpineGuard develops disposable medical devices built around its proprietary DSG (Dynamic Surgical Guidance) technology to improve safety and accuracy in spine surgery. Its primary product, PediGuard, is described as the world’s first handheld device that alerts surgeons to potential pedicular or vertebral breaches, and has been used in over 40,000 surgical procedures worldwide. The company is expanding DSG applications into pedicle screws through partnerships with surgical companies in France and the U.S. and is preparing product launches including PediGuard Threaded and DSG "smart screws." SpineGuard was co‑founded in 2009 and maintains offices in San Francisco and Paris. Management cites peer‑reviewed studies and industry partnerships as clinical validation supporting its commercial expansion. The company recently strengthened its financial position with debt financing to underpin sales momentum and accelerate new-product launches. SpineGuard develops and commercializes disposable devices based on its Dynamic Surgical Guidance (DSG™) technology to improve safety in spine surgery. Its first DSG product, PediGuard®, is a handheld device that warns surgeons of potential pedicular or vertebral breaches; over 38,000 procedures have been performed with PediGuard worldwide. The company is expanding DSG applications into pedicle screws and other surgeries and has pursued partnerships to support that expansion, including work begun in 2015. Management highlighted the market launch of the first “smart screws” using DSG technology. SpineGuard operates offices in San Francisco and Paris and was co‑founded in 2009. The company reported a fresh equity fundraising drive in the second quarter to support commercialization and platform expansion. SpineGuard develops the PediGuard platform, a handheld device that alerts surgeons to potential pedicular or vertebral breaches with real-time audio and visual signals. The company launched PediGuard Curv earlier in the year and is preparing a limited release of its Cannulated PediGuard, a “smart needle” aimed at minimally invasive spine surgery. It raised $6.2M to further extend the PediGuard platform. SpineGuard is based in San Francisco and Paris and was founded in 2009 by Pierre Jérôme and Stéphane Bette. The founders previously held executive roles at Medtronic Sofamor-Danek and SpineVision. The company plans to apply the new funding to product development and platform extension.