Synaptive Medical, a company that makes a groundbreaking medical imaging system, has proven that its investors were right to believe in the company.
Two rounds of funding last year—one for $3.7 million and one for more than $900,000—have enabled the company to expand to new markets, just as some of its early believers thought it would.
“Synaptive marks the first investment by General Atlantic in the medical device sector, which speaks volumes to the attractive market opportunity we see in the healthcare technology industry,” said General Atlantic Managing Director Alex Crisses, who joined the company’s board of directors as an observer. His tenure began back in 2016, when General Atlantic invested an undisclosed amount of funding in the company’s $3.7 million round.
Since those investment rounds, Synaptive has enjoyed a series of wins.
First, Northwell Health’s North Shore University Hospital acquired Synaptive’s BrightMatter technology.
“Being one of the first centers in the country to adopt this technology, we will now be able to approach tumors in the brain with visualization of details that will enable us to perform safer procedures and provide better outcomes,” said Raj K. Narayan, Northwell Health’s senior vice president, neurosurgery service line.
More recently, Brightmatter Plan, a neurosurgery pre-visualization and planning suite, received the CE Mark in Europe and regulatory approval in Australia.
“Europe and Australia are home to many highly influential clinician-researchers in neurosurgery. We look forward to opportunities to collaborate and understand their pre-operative planning needs,” said Synaptive President and Co-founder Cameron Piron.
BrightMatter Plan is part of Synaptive’s suite of services, which includes advanced imaging, informatics, surgical planning, navigation, and robotic visualization with a digital microscope for brain surgery. With the 3D images provided by BrightMatter Plan, surgeons can explore multiple approaches and determine the least invasive and safest route to the surgical target.
“This is a key year for our international expansion as Synaptive scales up in global healthcare markets,” Piron said. “Expanding our presence in the UK, Ireland, Germany, Switzerland, the Nordic countries, Singapore, and Australia is another step toward bringing Canadian innovation to the world.”
As the company continues to win regulatory approval and expand its presence around the world, it’s clear that investors’ faith in Synaptive is very much warranted.