Hoboken, New Jersey-based Enhatch Inc., a provider of a cloud-based intelligent surgery platform, has just closed on a funding round from software growth equity firms Trousdale Capital and Apis Holdings, with participation by Enhatch’s existing major investors. Enhatch has doubled its staff since the investment.
Enhatch’s Intelligent Surgery platform is aimed at manufacturers and suppliers of medical devices.
The funds will be used, said Peter Verrillo, Enhatch CEO, to “Integrate Intelligent Surgery into every aspect of the medical device industry and to ensure our partners have an enterprise-level customer experience.
Enhatch’s intelligent platform provides, said Verrillo, “A robust, end-to-end solution that allows companies to remain competitive no matter their size or balance sheet, surgeons to work more efficiently, and procedures to become more accurate.”
“We are delivering artificial intelligence to level the playing field; allowing any startup, small or midsize device company to leverage an enterprise platform more powerful than the largest device companies in the world.”
“Recent breakthroughs in artificial intelligence, surgical robotics, and 3D printing are revolutionizing surgeries in the same way advents such as laparoscopy transformed surgeries in the 20th century”, says Nima Shahian, founder and managing partner of Trousdale Capital, and recently appointed member of Enhatch’s board of directors. “We’re excited to partner with Enhatch in disrupting the surgical supply chain to deliver cost savings, surgical optimization, and enterprise efficiency to medical device companies, surgeons, and patients.”
“In partnership with the broader community, we continue to make significant investments in talent and quality of life here in Tulsa,” says Jay Calhoun, managing partner of Apis Holdings and chairman of Enhatch’s board of directors. “We think these strategic investments directly benefit technology, data, and service companies like Enhatch, who are seeking long-term partners who can help grow their operations to enterprise scale. We’ve been able to respond quickly to Enhatch’s aggressive hiring needs, pulling together a powerful combination of top-notch talent and friendly, customer-oriented team members. We do this while collaborating with management to build an enduring company with strong unit economics.”
When OTW asked what specific inefficiencies they are targeting, Peter Verrillo commented, “There is a lot of human power involved with doing preoperative planned surgeries, logistics of hundreds of instruments, and even during surgery. The latest robot/nav[igation] solutions take longer than an efficiently run traditional instrumented surgery.”
Looking forward, as the calendar hits the one-year mark, said Verrillo to OTW, they will have performed the initial Intelligent Surgeries and have early clinical data.
“There is an underlying problem in the device industry that causes billions in unnecessary logistics expenses,” added Verrillo. We have seen it plague many of our customers through the years, as you scale from $1 to $10 to $100M[illion] in revenue, device companies do not have access to the capital necessary for scaling and supporting surgical cases. Enhatch and Intelligent Surgery gives every company the ability to scale and grow economically.”
