Healthcare Industry News: 3M
News Release - April 18, 2019
Theator Raises $3M Seed Round to Enhance Surgical Performance and Reduce Medical Errors With Artificial IntelligenceFunding comes alongside the release of first product providing surgeons with a 'highlight reel' to improve surgical performance
SAN MATEO, California and TEL AVIV, Israel, April 18, 2019 -- (Healthcare Sales & Marketing Network) -- Theator, the AI-powered surgical decision support company, announced today the close of a $3M funding round led by StageOne, iAngels and KdTVC. Theator is helping surgeons enhance capabilities and reduce medical errors by leveraging machine learning and computer-vision to identify, optimize and scale dissemination of best practices. While most companies at the intersection of healthcare and AI are working on static images such as x-rays and CTs for diagnostics, Theator is working to leverage video - a critical missing piece in the sector.
"Lack of access to objective and widespread data on surgery is a major cause of often life-threatening errors. Today, much of the lack of access to quality care stems from surgery being mostly subjective, still taught and performed as an apprenticeship," said Dr. Tamir Wolf, Co-Founder and CEO of Theator. "Quality of care and outcomes vary greatly depending on the surgeon's 'intuition,' gained from one's particular experience, which is somewhat limited and varies. Theator leverages machine learning and computer vision to analyze surgeries and compile a usable database that can help dramatically reduce biases in surgical procedures."
Minimally invasive surgery is performed millions of times annually, yet procedures are not recorded routinely. Still, there is a growing understanding in the surgical community that video assessment is crucial for improving performance and optimization continuity of care. In sports, there is widespread utilization of video analytics as a means to enhance performance, yet to date, this has eluded the field of surgery. This presents a unique opportunity for real-time human surgical support and later, intelligence for robotic platforms.
Theator just announced the launch of its first product - a platform called Minutes - at the annual meeting of the Society of American Gastrointestinal and Endoscopic Surgeons (SAGES). Minutes provides intelligently edited versions of surgical procedures covering surgical steps and outcome-critical components. Hours-long procedures can be reviewed in minutes, helping surgeons prepare and review procedures. AI-powered algorithmic analytics can also inform surgeons on their performance. Videos will be stored in a repository where surgeons access palatable, actionable footage as they prepare for procedures and retrieve crucial information post-operatively to debrief and improve patient care.
"We are strong believers that computer vision and machine learning will change surgery forever," said Yoav Samet, Managing Partner of StageOne and incoming Board Member of Theator. "Identifying best practices to make surgeons better is just the beginning. Eventually, AI-driven insights will enable autonomous robotic platforms. Theator is creating the roadmap that will ultimately aid such platforms navigate complex surgical procedures, and StageOne is proud to support this vision."
"We are in the midst of an AI spring where we see AI infiltrating more and more industry sectors. In health tech, we will see significant changes not only in clinical data management but also in the patient interface, as these functions will be able to leverage huge amounts of information gathered and analyzed on a global scale by health care institutions," said Mor Assia, Founding Partner and Co-CEO of iAngels. "We are confident that Theator's AI powered solution will be transformative for the way physicians learn to master surgical techniques and reduce errors, making patient outcomes markedly better."
Theator is building a SaaS platform to provide surgeons with AI-powered decision support tools. Theator is helping surgeons improve performance by leveraging machine learning and computer-vision to identify, optimize and scale dissemination of best practices. The company's long-term vision is to enhance surgeon performance in real time and build the future cognitive base to enable autonomous surgical robotic platforms. Launched in April 2019, Theator's first product, Minutes, is a highlight reel and analytics tool providing intelligently edited versions of surgical procedures. These are presented to surgeons in a palatable and actionable form in order to help prepare and debrief, quickly and efficiently, using AI-powered algorithmic insights. For more information visit www.theator.io.
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