Healthcare providers want nothing more than to provide the best possible care for their patients, but it can feel impossible to keep up with the pace of MedTech innovation.
My family directly experienced this market breakdown when my wife unexpectedly delivered our son seven weeks early. Fortunately for us, we were at Brigham and Women’s Hospital, the number one hospital in the world for women’s services. Thanks to the amazing healthcare providers at the Brigham, our son is now healthy and happy. At the time, the need for emergency surgery came as a paralyzing shock; our obstetrician could not predict the progression of my wife’s condition and had no choice but to operate.
Through our work here at AcuityMD, I was aware of a new, FDA-cleared diagnostic test that could predict the leading cause of maternal and fetal mortality worldwide. I mentioned this test to our obstetrician; she had not yet heard of this breakthrough technology that could impact her clinical practice. If MedTech innovators face challenges gaining awareness and adoption of new products at top academic hospitals, imagine the challenges at community-based or rural hospitals.
Moments like these have catalyzed the founding and growth of AcuityMD. We’ve all had similar moments of uncertainty with the healthcare system: loved ones battling cancer or getting wheeled in for emergency surgery. We’re filled with uncertainty going into a diagnosis and uncertainty after a procedure. We place trust in the doctor, their training, and the technologies they use to heal our loved ones. Interacting with Medical Technology is a deeply personal experience. And so, by solving the business challenges MedTech companies face, we can help solve these deeply personal challenges that millions of patients face every day.
Since our founding in 2019, our core mission has been to accelerate the adoption of medical technology. And today, our platform is used by over 200 MedTech organizations, including 6 of the top 10 global MedTech companies, such as BD, who have replaced their formerly manual processes with automated insights to rapidly grow market share and get their cutting-edge technologies to patients faster.
As we continue to expand our reach and innovate, we are thrilled to announce that we’ve secured $45 million in Series B funding to advance our mission. This new funding puts us on a path to even more transformative opportunities. In 2024, we will launch three new products and expand our pipeline management solution to more customers. These innovations will be driven by a planned 70% expansion of our engineering and product teams in 2024. We are committed to serving the MedTech industry over the longest of terms and are doubling down to solve some of the industry's largest business challenges.
Thank you to our deep community of investors, partners, and customers that support and believe in our mission. This support reminds us every day that we’re on the right track. We cannot wait to explore what the future has in store for the MedTech industry.
Mike Monovoukas,
Co-founder and CEO, AcuityMD
