Surgical Theater IV

Surgical Theatre is a VR visualization platform for surgical procedures. It offers a drastic improvement over current methodologies.

It has substantial product traction and sales, and it's received a strategic investment from HTC since its last funding round.

It's addressing a rapidly growing multibillion-dollar market, and it's led by a team of Air Force veterans who are commercializing military technology.

Four reasons to take a look:

1. Drastic improvement over outdated and limited existing methodologies:

Most surgeons today use black and white 2D images to prepare for surgery. These images lack realism, perspective, and dynamic interaction, limiting surgeons’ ability to prepare for surgery. Surgical Theater’s multi-patented solution converts a patient-specific scanned CT/MRI into a 3D model that responds to a surgeon’s actions in a similar way to real life surgery. By allowing surgeons to rehearse simulated procedures on these models (see demo video), Surgical Theater lowers the chances of mistakes, the likelihood of lawsuits and the duration of surgeries. The solution also allows hospitals to charge procedures at higher reimbursement codes, and in effect increases profitability of surgery.

Multiple industry experts have praised Surgical Theater’s technology, with one surgeon declaring “The American Association of Neurological Surgeons will have to make it mandatory for hospitals to hold this device if its features become known to the public”.

2. Substantial sales and product traction since previous investment, and a strategic investment from HTC:

The company reported sales of over $1M in 2015, and is currently projected to reach $2.8M in sales for 2016. Customers include The Mayo Clinic, Mount Sinai Health System, Stanford University and UCLA.

Furthermore, Surgical Theater estimates that its solution has been used in over 1,800 procedures, further establishing its reputation as a leader in the space.

Additionally, ongoing research and development has led to the creation of a suite of patient and resident educational products, accessible through the Oculus virtual reality headset, and Microsoft Surface tablets.

The company has secured Asian technology leader HTC as the lead investor for the round. HTC has invested billions of dollars in the commercialization of their Vive VR headset technology and views Surgical Theater’s platform as a key component of this growth strategy.

3. Addressing large and rapidly-growing market:

Many hospitals are investing in new technologies in order to improve surgical outcomes. These innovations range from better imaging tools to navigation systems to robotic surgery platforms, and can cost anywhere from $150K to over $1M.

There are over 5,000 surgery centers in the U.S. with a combined total of over 40,000 operating rooms, representing, by our estimates, a $1.25B market.

4. Team of Air Force veterans that is commercializing military technology:

Surgical Theater’s two founders are experts in simulation technology with over 35 years of combined experience developing and working with flight simulators in the Israeli Air Force.

Team Background

Alon Ger - Co-Founder & VP Engineering

Alon is an Ex-Israeli Air Force R&D Officer/Pilot.

He was also a senior software engineer for the Israeli Air Force.

He's been Chief engineer of a large scale Flight Simulation Program.

He earned his BSC in Computer Science & Mathematics.

Moty Avisar - Co-Founder & President

Moty is an ex-Israeli Air Force R&D Officer.

He has 20 years of leadership of large scale R&D Flight Simulator projects.

He earned his Masters in System Engineering, Electrical & Computer Engineering, and also has an MBA.

Dr. Warren Selman - Medical Director

Dr. Warren Selman is Neurosurgeon-in-Chief of University Hospitals.

He's the Harvey Huntington Brown Jr. Professor and Chairman, Department of Neurological Surgery, Case Western Reserve University School of Medicine.

Director, University Hospitals Neurological Institute and former Chair, American Board of Neurological Surgery.

Co-Investors

HTC

HTC Corporation is a Taiwanese consumer electronics company headquartered in Xindian District, New Taipei City, Taiwan.

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