O’Melveny Represents Barco in Strategic Partnership with CaresyntaxApril 16, 2019
FOR IMMEDIATE RELEASE
CENTURY CITY—April 16, 2019—O’Melveny represented Barco, a pioneer in digital operating room solutions, in a strategic collaboration with caresyntax®, a leader in software solutions for surgical automation, analytics, and AI. As part of the deal, Barco has acquired a minority stake in caresyntax by participating in the company’s recent round of growth equity financing.
The maker of the market-leading Nexxis integrated digital operating room (OR) hardware platform, Belgium-based Barco offers a way to stream uncompressed, high-resolution video, and audio in and between integrated ORs. In addition to healthcare, Barco focuses on technology solutions for the enterprise and entertainment sectors.
Based in Germany, caresyntax uses proprietary, best-in-class workflow automation and data warehousing platforms to design software applications that support surgical vendors, healthcare improvement companies, and caregivers in identifying and managing risk, automating workflows, enhancing knowledge sharing, and reducing surgical variability.
The O’Melveny team was led by partner David Smith and counsel Martin Mayo.
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The following release was issued by the client:
BARCO STRENGTHENS ITS OPERATING ROOM PLATFORM AND TEAMS UP WITH CARESYNTAX® FOR FUTURE WORKFLOW AND ANALYTICS SERVICES
Kortrijk, Belgium, 9 April 2019 – Barco, pioneer and market leader in digital operating room solutions, announces a strategic collaboration with caresyntax®, market front-runner and leader in vendor-neutral software solutions for surgical automation, analytics, and AI . The partnership will strengthen the value proposition of both parties and accelerate the next level developments for the Nexxis digital platform. Alongside this partnership, Barco has acquired a minority stake in caresyntax by participating in the company’s recent round of growth equity financing.
Founded in 2013, caresyntax utilizes its proprietary, best-of-class workflow automation and data warehousing platforms to design software applications that support medical device vendors, healthcare improvement companies, and caregivers in achieving increased workflow efficiency, patient safety, and quality of surgical performance. Leveraging strong partnerships with leading surgical vendors and integrators, caresyntax products are used in 1800 hospitals and are present in over 6,300 operating rooms. Caresyntax is an established name in the market, with a strong presence in Europe and North America.
Leveraging on complementary software
With its Nexxis platform, Barco offers the best way to stream uncompressed, high-resolution video and audio in and between integrated operating rooms.
The new partnership and the combined competencies will result in a powerful and advanced digital ecosystem. Both companies will work on an exciting joint development path towards a more comprehensive solution for the integrated digital operating room, consisting of the signal and data connectivity, workflow and analytics layers. Amongst others this includes future development of machine learning and value-added applications for surgical risk management aimed at further enhancing knowledge sharing, increasing overall operating room efficiency and reducing surgical variability.
Caresyntax and Barco will resell each other’s current visualization solutions, like medical grade 4K monitors, video connectivity and management solutions, and modular in-wall control solutions.
Caresyntax also benefits from Barco’s capital injection of 10 million U.S. dollars to further develop and accelerate its surgical data and analytics products and extend adoption through the broad Barco Healthcare partnerships. In order to strengthen and accelerate the delivery of innovative solutions to the mutual clients of both companies, Barco will also take a seat on caresyntax Board of Directors, led by Dennis Kogan, Chairman and CEO of caresyntax.
Creating a true Surgical Operating System
“This strategic partnership is an important step in extending the Nexxis value proposition to include workflow and analytics services,” says Filip Pintelon, General Manager Healthcare at Barco. “Developing a joint roadmap will lead to an acceleration of software components which will rapidly propel both solutions forwards. Additionally, joining forces with caresyntax also opens additional opportunities to strengthen our surgical display solution line-up.”
“Tapping into Barco’s strong position in the global healthcare market will drastically broaden the reach of our software solutions,” adds Dennis Kogan at caresyntax. “Barco’s prominent role in our recent investment round will also give us the necessary resources to compound value of stand-alone applications by forming a turn-key Surgical OS ecosystem. This closer cooperation will prove very fertile for both companies and will move us closer to fulfilling our common ambition: Making surgery smarter and safer.”
Barco designs technology to enable bright outcomes around the world. Seeing beyond the image, we develop visualization and collaboration solutions to help you work together, share insights, and wow audiences. Our focus is on three core markets: Enterprise (from meeting and control rooms to corporate spaces), Healthcare (from the radiology department to the operating room), and Entertainment (from movie theaters to live events and attractions). In 2018, we realized sales of 1.028 billion euro. We have a global team of 3,600 employees, whose passion for technology is captured in 400 granted patents.
For more information, visit us on www.barco.com, follow us on Twitter (@Barco), LinkedIn (Barco), YouTube (BarcoTV), or like us on Facebook (Barco).
Caresyntax utilizes its proprietary, best-of-class workflow automation and data warehousing platforms to design software applications that support surgical vendors, healthcare improvement companies and caregivers in identifying and managing risk, automating workflows, enhancing knowledge sharing, and reducing surgical variability. Converging IoT technology and surgical analytics, the caresyntax platform is used in more than 6,300 operating rooms worldwide, transforming unstructured clinical and operational data into actionable, real-time insights. Clinical teams, as a result, enhance clinical performance, control surgical variation, and improve patient outcomes. The company was founded in 2013 and headquartered in Berlin (Germany). Its team of 115 people is located in Boston, Berlin, and other regional offices.