BOSTON, October 31, 2023–(BUSINESS WIRE)–AcuityMD, a leading provider of technology solutions for the medical technology (MedTech) industry, has developed an innovative commercial platform that addresses the commercialization challenges faced by emerging companies. LivsMed, a manufacturer of ArtiSential articulating instruments for laparoscopic surgeries, has recently adopted AcuityMD’s platform to expedite the commercialization of their products throughout the United States.
LivsMed’s ArtiSential products are equipped with a double-jointed end effector and an ergonomic grip, allowing surgeons to perform laparoscopic surgeries with greater ease and precision. These devices offer the same advantages as expensive robotic platforms but at a fraction of the cost. Additionally, they provide tactile feedback that robotic systems are unable to deliver.
As a startup company in a rapid growth phase, LivsMed faced significant challenges in bringing their products to market. One major obstacle was identifying potential customers among a diverse group of surgeons specializing in various therapeutic areas and performing different types of laparoscopic surgeries. This process was time-consuming and hindered the company’s ability to generate revenue. Furthermore, the turnover of sales representatives following the COVID-19 pandemic posed difficulties in managing a growing team.
To overcome these challenges, LivsMed turned to AcuityMD’s specialized MedTech data model and user-friendly interface. By leveraging rich data from both private and public payers, LivsMed now has a more streamlined approach to identifying target surgeons and accelerating sales growth. AcuityMD’s platform has empowered LivsMed’s sales team with an easy-to-use tool that facilitates their outreach efforts.
One unique aspect of LivsMed’s mission is their commitment to providing advanced and affordable patient care in non-robotic surgeries. Although robotic surgery has become increasingly prevalent in operating rooms, there remains a significant population of patients who do not benefit from the advantages offered by robotic systems. LivsMed aims to bridge this gap by equipping healthcare providers with cutting-edge instrumentation that enhances surgical outcomes, regardless of financial constraints.
AcuityMD’s success in the MedTech industry is evident through their significant growth. In 2022 alone, the company experienced a 317% increase in annual recurring revenue (ARR) and a 253% increase in customer growth. AcuityMD’s platform has proven to be instrumental in translating large volumes of healthcare data into actionable insights for MedTech companies, resulting in substantial sales growth and opportunities for expansion.
LivsMed, founded in South Korea, is at the forefront of bringing groundbreaking technology to minimally invasive surgery. Their ArtiSential product line has received international acclaim and recognition for its innovative design and contribution to advancing patient outcomes. By collaborating with physicians worldwide, LivsMed continually strives to revolutionize the capabilities of laparoscopic surgery.
In conclusion, AcuityMD’s technology platform has revolutionized the commercialization process for MedTech startups like LivsMed. By providing a comprehensive solution for identifying target markets and facilitating sales growth, AcuityMD enables companies to bring their innovative medical technologies to a wider range of patients. With the rapid pace of MedTech innovation, platforms like AcuityMD are essential in accelerating access to life-saving medical technologies.
What is AcuityMD?
AcuityMD is a leading technology partner to the commercial MedTech industry, providing a comprehensive platform that assists companies in identifying target markets, uncovering top opportunities, and driving business growth.
What are the advantages of LivsMed’s ArtiSential products?
LivsMed’s ArtiSential articulating instruments for laparoscopic surgeries offer surgeons the same advantages as expensive robotic platforms, including a double-jointed end effector and an ergonomic grip. These devices provide tactile feedback that robotic systems cannot deliver, improving surgical precision and patient outcomes.
How has AcuityMD’s platform benefited LivsMed?
AcuityMD’s specialized MedTech data model and user-friendly interface have streamlined LivsMed’s commercialization process. The platform enables LivsMed to identify target surgeons more efficiently, accelerate sales growth, and empower their sales team with an easy-to-use tool.
What sets LivsMed apart from other MedTech companies?
LivsMed is committed to ensuring advanced and affordable patient care in non-robotic surgeries, particularly for patients who do not benefit from the advantages of robotic systems. Their mission is to equip healthcare providers with the latest instrumentation that enhances surgical outcomes, regardless of economic constraints.
What is the future outlook for AcuityMD?
AcuityMD has experienced significant growth in recent years, with increased annual recurring revenue and customer base. The company’s platform has become indispensable in the MedTech industry, helping companies accelerate access to medical technology and drive sales growth.