Palo Alto, California-based Avail Medsystems, Inc. completed a $100 million Series B funding round led by D1 Capital Partners L.P. Existing investors and 8VC also participated in the financing round.
The medical technology startup developed the Procedural Telemedicine™ System. The system provides remote accessibility capabilities for the operating room, enabling real-time collaboration. It is HIPPA compliant and includes integrated software and hardware.
Avail Medsystems CEO Daniel Hawkins told OTW, “Avail’s Procedural Telemedicine System is the only end-to-end system that helps surgical teams in operating rooms collaborate with remote medical experts for live procedures and clinical training.”
Hawkins continued, “With this additional funding we are excited to grow the Avail network by increasing the number of hospitals that use our technology as well as expanding into new clinical specialties.”
The system consists of a “portable console used by surgeons in the operating room, paired with a versatile app for experts advising remotely on the procedure.” It is supported by the Avail Portal which enables users to “easily manage schedules, update availability in real-time, and collaborate at the click of a button.”
The COVID-19 pandemic has exposed the fragility of in-person communication. Hawkins remarked that in-person communication is “costly and time consuming and increases infection risk.”
Hawkins elaborated, “While our journey began long before COVID-19, the pandemic has shone a spotlight on these issues and accelerated the need for remote presence in the operating room.”
Founded in 2018, D1 Capital Partners is a global investment firm that focuses on investing in numerous sectors including technology and healthcare.
D1 Capital Partners Analyst James Rogers said, “We are very excited to be a part of Avail’s mission to provide universal access to clinical and procedural expertise. Now more than ever, the medical community needs innovative technological solutions to pressing systemic problems.”
Rogers continued, “Avail Medsystems is disrupting the industry for the better. We look forward to helping Avail bring Procedural Telemedicine to every hospital and surgery center in the U.S. and abroad.”
