May 4, 2023 — TORONTO AND NEW YORK – A USD 15 million Series A fundraising round has been announced by Surgical Safety Technologies (SST). This medical technology startup developed the OR Black Box® platform for hospitals. The funding round, which U.S. Venture Partners and Santé Ventures jointly led, would be used to speed up the company’s commercial and automation projects. To support real-time decision-making and offer analytical insight into safety, compliance, and efficiency, SST’s platform uses AI. As a result, patient outcomes are significantly improved, and hospital expenses are decreased.
Teodor Grantcharov, the company’s creator, said, “I am honored to have this support and confidence as we continue our objective to make healthcare safer and more cost-effective. “Raising this round of funding provides great confirmation for our business strategy. More significantly, it makes it possible to introduce this technology into more operating rooms where it is most needed. There is more work to be done, and we hope that technology will continue to directly contribute to preserving many lives in the years to come.
U.S. Venture Partners’ general partner Dafina Toncheva continues, “USVP is excited to join with SST as it expands its commercial footprint. Major hospitals in North America and Europe use SST’s cutting-edge enterprise software and analytic platform to gain unique insights that enhance patient outcomes and boost operational effectiveness. We anticipate that all hospitals will require SST’s solutions for ongoing surgical, trauma, and interventional procedure outcomes improvement to be competitive and win accreditation in the future.
According to clinical studies, using the OR Black Box® platform significantly improves clinical performance, compliance with standard operating procedures (like the World Health Organization’s surgical safety checklist), and general compliance with standard operating procedures. This has led to a dramatic decrease in never events and improved patient safety outcomes. Initial findings have also shown potential for significant cost savings due to equipment standardization, data-driven scheduling, and optimal use of the OR.
An organisation with a clear aim, Surgical Safety Technologies Inc. (SST), uses innovative technologies to improve patient safety throughout the world. SST is the creator of The Black Box platform for healthcare as well as a collection of analytical and software solutions essential for providing value-based care and ongoing quality improvement. SST’s solutions have been used in the top hospitals in North America and Europe, and credible research has shown that they are beneficial in lowering costs and enhancing patient outcomes.
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. This medical technology startup developed the OR Black Box® platform for hospitals. The funding round, which U.S. Venture Partners and Santé Ventures jointly led, would be used to speed up the company's commercial and automation projects. To support real-time decision-making and offer analytical insight into safety, compliance, and efficiency, SST's platform uses AI. As a result, patient outcomes are significantly improved, and hospital expenses are decreased.){kind=link}