Norgine Ventures, corporate venture capital arm of pharmaceutical company Norgine, has invested $11.9m in US-based medical analytics software producer Caresyntax.
Caresyntax provides hospitals and medical centres with an analytics platform that takes data from surgical devices and patients’ electronic health records to provide insights that help senior management manage risk, reduce surgical variability and automate workflows.
The funding will be used to speed up product development, open a new US office in Boston and add more than 10 new employees before the end of this year. Caresyntax’s website lists investment firm Surgical Intelligence as an investor, but has not revealed details of its funding.
Norgine Ventures managing director Peter Stein said: “Caresyntax solutions enhance productivity and efficiency in the operating room, and improve utilisation and safety, ultimately leading to better clinical outcomes.
“This investment furthers our commitment to funding innovating businesses with the potential to transform the healthcare sector and provide economic value to patients, healthcare professionals and payers.”