Proxime Raises $80 Million in Series C Funding
June 14, 2022
LONDON, /PRNewswire/ -- Proximie, the global health technology platform digitally connecting operating rooms (OR) announces it has successfully raised $80 million in a Series C equity financing. The investment follows a year in which Proximie saw a significant increase in its Total Contracted Value, supported over 13,000 surgeries, and expanded their global footprint to 100 countries.
The funding round was led by Advent Life Sciences - one of the leading trans-Atlantic venture investors building innovative life sciences businesses, with participation from new investors Emerson Collective - the impact investor founded by Laurene Powell Jobs, SoftBank Vision Fund 2, British Patient Capital, Mubadala Investment Company, and the Minderoo Foundation. Existing investors F-Prime Capital, Eight Roads, Questa Capital, Global Ventures, and Maverick Ventures also participated in the round.
Proceeds will be used to accelerate development of key products and services, build out Proximie's marketplace ecosystem and scale their Operating System of the OR - a centralized platform delivering connected surgical care. Hospitals and surgical centers who leverage Proximie's technology will have access to preoperative data that can help inform patient care, real time collaborative tools to record, train, and deliver care, and postoperative content management tools to capture and distribute content to their colleagues. Taken together, Proximie will allow health systems to establish an intelligent, digital layer to the OR, enabling them to save time, money, and more lives.
Proximie has been used for cases in surgical specialities at over 500 hospitals worldwide. Hospitals have applied Proximie's technology to drive efficiencies in the surgical backlog following COVID-19, increased the speed of training surgeons while maintaining costs, and built hub and spoke models concentrating surgical care and expertise in central locations to reduce the time and costs associated with travel.
Dr. Nadine Hachach-Haram, CEO and Founder of Proximie, said:
"Our vision is to democratize surgery through better data by connecting every OR and Cath Lab in the world. We began this journey enabling surgeons to virtually join any OR. Now, we're using this capability to digitize the operating room, bringing patients the collective expertise of the best surgeons in the world - where data collected and shared on Proximie can help them receive life-saving care, no matter where they live."
Five billion people currently lack access to safe surgery, with over 18 million people dying every year from lack of access to surgery. Launched in 2016, Proximie is a tool allowing surgeons to virtually "scrub in" to any operating room in the world, extending the capabilities of top surgeons to areas without access to top surgical care. With the COVID-19 pandemic inhibiting travel and access, Proximie has grown rapidly, scaling to five continents and over 100 countries, helping surgeons deliver lifesaving care during a time of healthcare disruption.
Dr. Shahzad Malik, General Partner Advent Life Sciences, said:
"We are delighted to partner with Proximie and a world class group of investors as the company expands its global footprint and product capabilities. The company is a perfect fit for our ethos of backing best-in-class innovative life sciences businesses that have the capability to positively impact human health and healthcare delivery in paradigm changing ways."
The successful completion of today's fundraise means Proximie has raised a total of $130 million since inception.
John Cassidy, Investment Director at SoftBank Investment Advisers said:
"The pandemic has rapidly accelerated the adoption of virtual clinical care globally. Proximie's technology platform combines AI, machine learning, and augmented reality to facilitate live sharing of the operating room, creating a connected surgical care ecosystem to better support patients and hospitals. We are pleased to partner with Dr. Nadine Hachach-Haram and the Proximie team to support their mission of saving lives by sharing the world's best clinical practices."
- Proximie is a global health technology platform focused on digitizing operating and diagnostic rooms;
- Proximie's mission is to deliver a connected surgical platform to help provide quality surgical care around the globe. Every Proximie procedure can be recorded, analysed and leveraged for future use to help inform best practice;
- By connecting operating rooms globally, Proximie is facilitating a rich, insightful data set which naturally feeds best practices into the entire healthcare ecosystem;
- Founded by Dr Nadine Hachach-Haram, Proximie has now conducted tens of thousands of surgical procedures and been deployed in over 500 hospitals in across 100 countries in five continents;
- Proximie has contracts with over 35 major medical device companies – with access to 90% of operating rooms and diagnostic suites in the U.K., U.S., and E.U – and been published in over 20 medical journals;
About Advent Life Sciences
- Advent Life Sciences founds and invests in early- and mid-stage life sciences companies that have a first- or best-in-class approach to unmet medical needs
- The investment team consists of experienced professionals, each with extensive scientific, medical and operational experience, and a long-standing record of entrepreneurial and investment success in the US and Europe
- The firm invests in a range of sectors within life sciences, including drug discovery, enabling technologies, digital health, and med tech, with an emphasis on innovative, paradigm-changing approaches
- Advent Life Sciences has a presence in the UK, US and France