ReSuture’s mission is to promote patient safety and reduce adverse surgical outcomes with a comprehensive and accurate simulated surgical platform that can evaluate user performance.
Current Status
We have established marked need and sales capability through the initial sales of our minimum viable products (MVP), and proved our ability to execute R&D milestones through the successful completion of our SBIR Phase I grant. The successful closure of our Seed Round will enable the translation of our MVP to a commercially viable and scalable product line.
Medical Device Manufacturers: WL Gore, Becton Dickinson, Teleflex, Endologix
Academic Medical Centers: Mayo Clinic, Tulane University, McMaster University
Problem or Opportunity
To supplement an increasingly inadequate model of surgical education, medical device companies deploy extensive resources for device training and clinician education. Surgical training on medical devices primarily occurs in the operating room, which increases the risk of malpractice against both medical device manufacturers and practicing surgeons. Surgical residents are expected to master increasingly complex devices and procedures with limited duty hours and operative exposure. Beyond this, there is no quantifiable way to determine a user's caliber of operative performance.
Solution (product or service)
ReSuture offers a hardware platform that simulates multiple procedures in open vascular surgery. We are utilizing unique sensing technology to quantify key surgical metrics as a user operates on the simulated models. Our MVPs are currently used by customers in both the medical device and academic medical industries to streamline training and device demonstration. Our current and future product development is focused on improving and implementing our proprietary sensing technology - then developing corresponding AI to provide objective insight into surgeon and device performance.
Business model
We are currently selling our hardware platform on a razor-razorblade model (74-82% profit margin). Customers may also purchase custom or patient-specific models, which are always priced to yield a 90% profit margin or greater. After the expansion of our data collection technologies and subsequent development of a corresponding software, we will transition to a Platform as a Service (PaaS) revenue model. The PaaS annual contracts are projected to be sold at $100,000 USD per hospital or per medical device product line.
Incubation/Acceleration programs accomplishment
500 Startups, Arizona Commerce Authority Venture Ready program, VentureWell e-teams and ASPIRE programs, National I-Corps, Flinn Foundation Biopreneurship program, ASU Venture Devils, ASU-SparkLabs, Peoria Forward, Yoo & Co Accelerators, ASU Mayo Clinic MedTech Accelerators
