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In the United States, more than 6,000 new medical devices are approved by the FDA and both are announced one year. As a surgeon, you may not want to stay in most of this, but don’t worry, your local medical device sales team is here to explain why you want (on average) 16 new machines and devices in one day and both. If that sounds frustrating as a salesperson, well, that’s what Acuity® is here to solve; to locate opportunities for your sales process.
Since announcing its fundraiser in May 2021, Acuity® says medical-generation hardware corporations have seen more than 40,000 new opportunities for their software, resulting in more than $2 billion in leads added to the sales pipeline.
“We looked for those great things to come out of our health care system, like value-based healthcare or personalized medicine,” says Acuity® founder and CEO Mike Monovoukas. “Instead, we had 140 tools in a surgical tray. It’s the complexity of the product that’s in this space. “
I don’t perceive how creating a software platform that helps sales reps develop their medical device sales solves the challenge of 140 tools on one surgical platform, but maybe it’s just me.
The company raised $31 million in Series A financing directed through Redpoint Venture Partners, with Benchmark. He led Acuity’s® $7 million investment round.
“We introduced Tactoset in 2019, a key regeneration generation for Anika in an accessible market of over $100 million. While we were able to capture a significant percentage of the market in a short period of time, we were looking to find a tool that would help us unlock more of the full trading potential. What we needed was analytics, data and procedural data – Acuity® was a game changer,” says Ben Joseph, Anika’s vice president of business and corporate development. “They provided us with a detailed and quick roadmap to prioritize our sales efforts, adding a plan targeting more than 500 surgeons across clinical call points, resulting in a strong portfolio of goals. While we began employing Acuity® with a unique product line, we have now expanded our commitment to offer our comprehensive joint preservation portfolio. »
“[Our customers] are looking to sell and teach surgeons which products to use in which contexts. It’s a very convenient type of practical sale, and they’re smart at educating and training surgeons on the newest technologies for their procedures. This is the task of the salesperson, and he deserves to spend all his time helping in the field, helping surgeons become familiar with new technologies and exercising and familiarizing them with those new technologies. Instead, due to the existing landscape of software systems that sales reps depend on, they spend their days in their workplace recording notes in a CRM,” says Monovoukas, highlighting the company’s pricing proposition. use. “
With this company, Monovoukas is scratching his head: he started his career as a medical device entrepreneur; his first foray into entrepreneurship. He temporarily learned how complicated it is to bring a new product to market in a highly regulated market.
“What if it was much less difficult to commercialize new technologies and products?Could we harness the power of innovation to help small businesses that have cutting-edge technologies get those products to market faster and faster and get feedback?so they can innovate and keep producing?” Monovoukas asks, describing the initial germ of the concept of Acuity®. “Instead, what ends up being conveyed is that the only way a small company has to put its products on the market is to go through and be bought through a large company instead. There is a disconnect between innovation, which is literally vital to the U. S. healthcare area. In the U. S. and around the world, medical technology, innovation and the way products are marketed. We seek to make it much less difficult for those cutting-edge technologies to get to market faster. .
“The medical device industry is worth nearly a trillion dollars and yet there is no smart, simple, modern tool to manage the company’s marketing components,” says Logan Bartlett, managing director of Redpoint Ventures, highlighting how Acuity® controlled to increase its $31 million Series A. “Acuity® is addressing this massive sector of the healthcare industry with a new type of software that is already helping industry leaders optimize sales and grow their businesses, which is why we are excited to invest in the innovative corporate software and equipment. “