Research & Technology, Spectrum Health System
Spectrum Health Ventures Invests in Gauss Artificial Intelligence Triton Technology to Better Identify Postpartum Bleeding
GRAND RAPIDS, Mich., Oct. 19, 2018 – Spectrum Health Ventures is joining nine other investors as part of a $20 million Series C investment in Gauss Surgical’s Triton artificial intelligence technology.
Triton estimates patient blood loss in real time by using computer vision and machine learning algorithms to analyze images of surgical sponges and canisters. Triton has demonstrated that accurate, real time estimation of blood loss leads to early recognition of hemorrhage, reduced blood transfusions and shortened length of stay for patients.
“Triton is an important tool to help us improve outcomes for pregnant mothers. Hemorrhage-related maternal morbidity and mortality is a critical problem impacting thousands of mothers, families and communities each year,” said Melinda Johnson, MD, Spectrum Health’s vice president and department chief of Women’s Health. “With more accurate technology such as Triton, physicians are better able to prevent harmful postpartum complications and improve recovery time for patients.”
“Investing in this promising technology aligns with Spectrum Health Ventures’ mission to create alternative revenue streams through investments that drive innovative health solutions,” said Roger Jansen, PhD, senior vice president, Spectrum Health, and president, Spectrum Health Ventures. “We are confident that Triton will become a successful, widely-used platform that will have a real impact on patient safety and wellbeing.”
Over the last 15 years, preventable maternal deaths and harmful postpartum health complications for mothers have increased precipitously in the U.S. due to undetected hemorrhaging, particularly in cesarean deliveries. Attempts to weigh suction canisters and sponges are confounded by the presence of other fluids such as amniotic fluid or irrigation. Triton captures rapid scans of blood-containing sponges and canisters and uses computer vision and machine learning to estimate blood loss with significantly higher accuracy and precision.
According to a recent study of 2,781 caesarean section patients published in the American Journal of Perinatology, implementing Triton was associated with significant increases in recognition of maternal hemorrhage and significant decreases in blood product transfusions and hospital length of stay.
Triton is FDA approved and has been adopted by 50 hospitals in the US. Triton received a 2018 Apple Design Award, which recognizes the best in design, innovation and technology on Apple platforms.
“At Gauss, we are leveraging artificial intelligence through machine learning and computer vision technology to give clinicians, for the first time, an objective view of blood loss,” said Siddarth Satish, CEO of Gauss Surgical. “We are delighted to be partnering with Spectrum Health Ventures to continue to expand the impact of this technology and are eager to continue our work together to improve not only maternal care but reshape overall operating room capabilities.”
“Part of our venture capital investment process is the due diligence undertaken with our stakeholders and clinical experts,” said Scott Lancaster, MD, MBA, clinical director, Spectrum Health Ventures. “I’m delighted that we have signed a contract to begin implementing Gauss’s Triton technology in select operating rooms throughout our health system.”
Spectrum Health joins nine other investors, including SoftBank Ventures Korea, the only global early-stage venture capital arm of SoftBank Group that has invested $600 million across 230 start-up companies, and the Innovation Fund of Polaris Partners, a Boston-based venture capital firm with more than $4.3 billion under management.
Series C funding is a company’s third round of investment capital from outside sources. By this stage, the company or product has already entered the marketplace.
About Spectrum Health Ventures
Spectrum Health Ventures is a division of Spectrum Health, a not-for-profit, integrated health system, committed to improving the health and wellness of our communities. We live our mission every day with 30,000 compassionate professionals, 4,100 medical staff experts, 3,200 committed volunteers and a health plan serving 1 million members. Our talented physicians and caregivers are privileged to offer a full continuum of care and wellness services to our communities through 14 hospitals, including Helen DeVos Children’s Hospital, 225 ambulatory sites and telehealth offerings. We pursue health care solutions for today and tomorrow that diversify our offerings. Locally-governed and based in Grand Rapids, Michigan, our health system provided $457 million in community benefit in the last fiscal year. Thanks to the generosity of our communities, we received $30 million in philanthropy in the most recent fiscal year to support research, academics, innovation and clinical care. Spectrum Health has been recognized as one of the nation’s 15 Top Health Systems by Truven Health Analytics®, part of IBM Watson HealthTM.
Using computer vision and machine learning algorithms, Triton estimates blood loss in real time by analyzing images of surgical sponges and canisters taken with an iPad in the operating room. Triton has demonstrated that accurate, real time estimation of blood loss leads to early recognition of hemorrhage, reduced blood transfusions and shortened length of stay for patients. Triton is FDA cleared and CE marked and has been adopted by 50 hospitals in the US. Triton received a 2018 Apple Design Award, which recognizes the best in design, innovation and technology on Apple platforms.
Gauss is a Silicon Valley-based technology company pioneering an over-the-air delivery model for medical technologies. The company leverages computer vision and machine learning to deliver mobile applications for the operating room, with a focus on improving patient safety, quality, and outcomes. The company’s initial product, Triton, is a real time blood loss monitor that improves care for patients and reduces costs for hospitals. For more information, go to www.gausssurgical.com.
Spectrum Health is a not-for-profit health system that provides care and coverage, comprising 31,000+ team members, 14 hospitals (including Helen DeVos Children’s Hospital), a robust network of care facilities, teams of nationally recognized doctors and providers, and the nation’s third-largest provider-sponsored health plan, Priority Health, currently serving over 1 million members across the state of Michigan. People are at the heart of everything we do. Locally governed and headquartered in Grand Rapids, Michigan, we are focused on our mission: to improve health, inspire hope and save lives. Spectrum Health has a legacy of strong community partnerships, philanthropy and transparency. Through experience, innovation and collaboration, we are reimagining a better, more equitable model of health and wellness.