MST – Medical Surgery Technologies, a leader in the field of image-guided surgical systems, has announced the closing of a $12.5 million Series C funding round. The financing was led by China’s Haisco Pharmaceutical Group (SHE: 002653), with the participation of existing investors Triventures, SCP Vitalife Partners, Agate MaC Medical Investments, OurCrowd and Jacobs Investment Company.
MST markets the FDA-cleared and CE-approved AutoLap, the only image-guided laparoscope positioning system targeting the multi-billion dollar minimally invasive surgery market. Based on MST’s proprietary image analytic technology platform, AutoLap offers surgeons full and natural control of the surgical procedure with minimal user interaction. Healthcare providers benefit from cost-effective, cutting-edge surgical technology to perform more procedures more efficiently. As part of the investment, Haisco will serve as exclusive distributor of AutoLap in China.
According to Motti Frimer, MST’s CEO, the investment is primarily earmarked for expanding marketing and sales of AutoLap in the U.S. Europe and China. “AutoLap has been very well received by surgeons and healthcare providers. We look forward to collaborating with Haisco in bringing image-guided laparoscopic surgery to more centers over the coming year,” stated Frimer.
“We are delighted to enter the Israeli market with a significant investment in MST,” said Haisco’s CEO, Wang Junmin. “We see great potential for AutoLap in China and look forward to applying our know-how and experience in bringing this exciting surgical technology to the China market to the benefit of patients, surgeons and hospitals alike.”
Haisco Pharmaceutical Group, founded in 2000, is a publicly traded company focusing on marketing and sales of internally-developed therapeutic drugs. Haisco ranks third in size in China’s chemical pharmaceutical industry. The company’s products are sold to more than 3,000 hospitals throughout China with annual sales of over US$800 million.
MST – Medical Surgery Technologies Ltd. is a privately-held Israeli company founded in 2005 with the mission of bringing image guidance technology to the surgical suite. MST’s team includes professionals with extensive expertise in the development and commercialization of advanced medical systems integrating hardware, software and robotics.