Surgical Theater Secures $9 Million Series A Financing Round Led by HTC and Shanghai Creation Investment Management Co, Ltd. (SCI)
8 hours ago
CLEVELAND, OH--(Marketwired - Oct 19, 2015) - Surgical Theater, LLC announced today it had completed its $9 Million Series A round of financing. This is the largest round for Surgical Theater and was led by HTC Corporation (HTC) (TWSE 2498) and Shanghai Creation Investment Management Co, Ltd.
"This additional funding is a vote of confidence in Surgical Theater's vision of enhancing the way surgeons interact and utilize medical imaging, now and in the future," stated Moty Avisar, Surgical Theater CEO and Co-Founder.
Surgical Theater is a leading Virtual Reality and Image Guidance software company for healthcare, and its software applications are providing a comprehensive solution that is transforming the way surgeons consult with patients, plan complex surgical procedures, and use medical imaging to navigate during surgery and post operative review with their peers.
During a typical neurosurgical consultation, medical images are used to explain the surgical procedure; now, with the Surgical Theater platform, neurosurgeons have the ability to virtually walk inside the patient's anatomy together with the patient, providing greater clarity and increased confidence. Pre-surgery planning is critical for minimally invasive and keyhole surgical techniques; the ability to perform a 'virtual exploration' to see the inside of the brain close-up through the small craniotomy opening allows surgeons to explore perspectives of the pathology and vital structures of the brain that cannot be viewed any other way, and "See What They Can't See" in normal surgical approaches.
"Surgical Theater's Virtual Reality and Image Guidance also extends into the operating room, coupled with intra-operative navigation systems we are providing dynamic visualization capabilities in real time, allowing surgeons to perform a real-time 'fly through' of the surgical pathway, establish multiple views, rotate and interact with the navigation image. Additionally, the software suite allows HIPAA-compliant peer to peer consultation in specific cases," said Avisar.
"Virtual reality will forever transform the way we experience the world around us, and HTC Vive's unique 360 room-scale solution and tracking technology is enabling innovative applications of VR which will enrich every aspect of our lives," said Cher Wang, CEO of HTC. "Our collaboration with Surgical Theater is an exciting opportunity to pioneer the medical use of VR, with a remarkable application in the highly specialized field of neurosurgery that enhances patient care could help save lives."
"Surgical Theater's Virtual Reality based surgery guidance tools are already revolutionizing the way that neurosurgeons use medical imaging for surgery and the education of surgical residents. We are delighted to see that the HTC Vive headset, which has many consumer VR applications, can now be used to assist brain surgeons. We are very excited about the groundbreaking solutions resulting from the synergies between the two companies -- the HTC Vive is now enabling a significant leap for brain surgeons with Surgical Theater VR applications," said Avisar.
Shanghai Creation Investment (SCI) is an active VC fund focusing on advanced technology in medical, big data and automation. SCI works closely with Cleveland Clinic, City of Akron and a couple important funds and incubators in northern Ohio. SCI was introduced to Surgical Theater in 2014 through their partners in Cleveland Ohio. SCI deems the 3D imaging reconstruction as the future of the medical domain. SCI considers Surgical Theater as the leading force in the application of high-precision 3D imaging and is working together to introduce the technology into hospitals in Asia.
About Surgical Theater, LLC
Surgical Theater is a leader in the agile development of Medical Applications for Virtual Reality and Image Guidance.
Surgeons have used Surgical Theater technology in over 900 cranial cases nationwide to help patients with tumors and cerebrovascular disorders. Surgical Theater devices are FDA cleared and also obtained CE Mark in September this year. Recently, Surgical Theater has also entered into an agreement with the world's largest medical technology company to provide advanced 3D Virtual Reality based image guidance alongside with a traditional surgery navigation solution.
To date, 3D Virtual Reality, Surgical Guidance and Navigation has been installed in leading research and teaching hospitals across the United States including; University Hospitals Case Medical Center, University Hospitals Rainbow Babies and Children's Hospital, The Ronald Reagan UCLA Medical Center, The Mount Sinai Hospital, Mayo Clinic, NYU Langone Medical Center, and others. www.SurgicalTheater.net
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