In the United States, more than 6,000 new medical devices are released each year with FDA approval. As a surgeon, you may not want to continue to know about this, but don’t be afraid. Your helpful neighborhood medical equipment sales team will help explain why you need an average of 16 new toys every day. If this sounds clunky as a salesperson, that’s it. AcuityMD I am here to solve it. To find opportunities in the sales process
Since announcing the May 2021 seed round, AcuityMD said medical technology hardware companies have identified more than 40,000 new opportunities using the software, which translates to more than $2 billion in leads added to their sales pipeline.
Mike Monovoukas, Founder and CEO of AcuityMD, said, “We want this big thing in healthcare systems like values-based or personalized healthcare. “Instead, we put 140 instruments on the surgical tray. That’s how much product complexity exists in this space.”
It’s not clear how creating a software platform that helps sales reps increase medical device sales solves the problem of 140 devices on a surgical tray, but it’s probably just me.
filed by the company $31 million in Series A funding led by Redpoint Venture Partners backed by Benchmark. The latter led AcuityMD’s $7 million seed round.
“We started Takto Set in 2019 anika In an addressable market of over $100 million, we were able to gain meaningful market share in a short period of time, but we wanted to find a tool that would help us further unlock our full commercial potential. What we needed was analysis, information and procedural insight. AcuityMD was a game changer,” says Ben Joseph, Anika’s VP of Commercial and Corporate Development. “They created a robust targeting pipeline by providing a detailed and specific roadmap for prioritizing our sales efforts, including plans to target more than 500 surgeons at various clinical call points. Using AcuityMD with One Product Line But now we have expanded our participation to include our entire shared conservation portfolio.”
“[Our customers are] You want to sell and educate surgeons about which products should be used in which environments. This is a kind of hands-on sale, and they are really good at educating and training surgeons on the latest techniques in surgery. That’s the salesperson’s job, and they should devote all of their time to assisting in the field and making sure the surgeon is learning about new techniques and being trained and comfortable using them. Instead, because of the current environment of the software systems that sales reps depend on, they spend the day at the office taking notes in their CRM,” explains Monovoukas, highlighting the company’s value proposition. “We are spending valuable time with our sales reps educating surgeons about the new robots they can use.”
I’m scratching the itch with a company called Monovoukas. He started his career as a medical device entrepreneur. His first entrepreneurial spirit. He quickly learned how difficult it can be to commercialize a new product in a highly regulated market.
“What if it was much easier to bring new technologies and products to market? Can a small company with truly innovative technology unleash the power of innovation to bring products to market faster and faster, get feedback to innovate and keep producing?” asks Monovoukas. Ideas for AcuityMD. “Instead, the only way a small company eventually has to bring a product to market is to be acquired by an established large company. There is a disconnect between the U.S. healthcare sector and the way in which the innovations, medical technologies, innovations, and products that are so important to the world are actually being commercialized. We are working hard to get these innovative technologies to market faster.”
As Logan Bartlett, Managing Director, Redpoint Ventures, explains, “The medical device industry is worth nearly $5 billion, but it lacks the intelligent, simple, and modern tools to handle the go-to-market component of our business.” How AcuityMD successfully raised $31 million in Series A. We are excited to invest in this groundbreaking business and team.”