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cultivate(MD) Announces Investment Into Genesis Software Innovations, "GSI"
HOLLAND, Mich., Aug. 20, 2019 /PRNewswire/ -- Genesis Innovation Group and their cultivate(MD) Capital Fund II, LP, a fund focused on investments into early stage healthcare companies with innovative technologies, announced their investment into Grand Rapids, MI based Genesis Software Innovations, "GSI," a company developing unique software solutions focused initially in the orthopedic space.
GSI has created an innovative foundational platform which is designed to improve efficiencies, decrease costs and create greater patient satisfaction. The suite of products includes GSI ReconTM, 3D/2D orthopedic implant templating software used for surgical planning; GSI Recon InventoryTM, which aids in reducing inventory and sterilization resulting in cost savings for hospitals and surgery centers; GSI InsightTM, a unique software solution for data collection and patient satisfaction; and GSI TouchTM, patient optimization software to enhance patient satisfaction as they prepare for and recover from surgery. The digital platform addresses both the economics and efficiencies required to accommodate the significant growth in orthopedic procedures, as well as positively impacting the overall patient experience from the first office visit through the patient's release from care.
Don Running, VP, R&D, Genesis Innovation Group, explained, "This is an exciting time in the medical industry given the advancement and adoption of technologies that can have a significant impact on the health of our communities. We seek to come alongside group practices and offer them innovative, time neutral solutions that will allow them to attract a greater number of patients who will end up more satisfied with their outcomes, which will generate more revenue without additional effort required from the surgeon or staff or adding cost to the system."
Matt Miller, Director of Technology Development, Genesis Innovation Group, said, "Our vision at GSI is to focus on bringing solutions to market and to also actively look for ways those solutions can be integrated and complimentary with external systems. While we will continue to build systems that integrate with our own products in uniquely intelligent ways, GSI must also be partnering with the growing digital healthcare industry where complementary best-in-class solutions can be merged with GSI technologies to bring clear benefit to patients and healthcare professionals."
GSI holds a significant amount of expertise in both the medical industry and software project execution. Mr. Miller added, "While there are great software companies that have the ability to deliver, it can be difficult to have clarity on market needs. GSI's in-house expertise and network of medical professionals work together to quickly assess and filter potential solutions into actionable product plans." GSI has received very positive early feedback on their software innovations.
About cultivate(MD) Capital Funds
As a medical device venture capital fund, cultivate(MD) is dedicated to bringing emerging health care innovations to market, with a special focus on medical device and orthopaedic technologies. cultivate(MD) is focused on investing in early stage healthcare companies with innovative technologies that have demonstrated evidence of effectiveness.
This press release does not constitute an offer to sell or solicitation of an offer to buy any securities in any offering of securities. There will not be any sale of any securities in any state or jurisdiction in which such offering, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Certain Statements in this press release constitute forward-looking statements. When used in this press release, the words "will," "anticipate," and similar expressions or the negatives thereof are generally intended to identify forward-looking statements. Such forward-looking statements, including the intended actions and performance objectives of fund, its general partner, cultivate(MD) or any cultivate(MD) portfolio company referenced herein, involve known and unknown risks, uncertainties, and other important factors that could cause the actual results, performance, or achievements of the general partner, or any cultivate(MD) fund or portfolio company to differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements. No representation or warranty is made as to future performance or such forward-looking statements. All forward-looking statements in this press release speak only as of the date hereof. The fund, its general partner and cultivate(MD) expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in its expectation with regard thereto or any change in events, conditions, or circumstances on which any such statement is based.
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