Investment will fuel adoption of the company’s signature OR Black Box® technology, which is already used by leading academic healthcare centers across North America and Europe
TORONTO and NEW YORK, May 4, 2023 /PRNewswire/ — Surgical Safety Technologies (SST), a medical technology company that engineered the OR Black Box® platform for hospitals, has today announced $15 Million in Series A funding. The round was led by U.S. Venture Partners and Santé Ventures, and will be used to accelerate the company’s automation initiatives and commercial efforts. SST’s platform leverages AI both to inform real-time decision making and provide analytical insight in the areas of safety, compliance and efficiency, which drastically improves patient outcomes and reduces hospital costs.
SST has nearly 60 employees across its Toronto and New York offices and operates with a single mission in mind: to make healthcare safer globally through improved knowledge of clinical practices. The company currently has its Black Box® platform and analytic products deployed in critical interventional hospital environments such as surgical operating rooms, trauma centers and simulation centers – powering better analytics, benchmarking and process improvement. The various Black Box technologies are in use within many of the leading academic healthcare providers in the United States, Canada, and Western Europe, and provide novel insights that result in reduced errors, improved safety, and significant cost savings.
“I am honored to have this support and confidence as we continue our mission of making healthcare safer and more cost-effective,” noted Teodor Grantcharov, founder of Surgical Safety Technologies. “Raising this round of financing offers incredible validation for our approach as a company, but most importantly, it helps get this technology into more operating rooms where it is needed most. There is more work yet to be done and we hope that our technology continues to play a direct role…