Saphena Medical, Inc.

Saphena Medical, Inc. focuses on developing innovative surgical solutions for Endoscopic Vessel Harvesting, enhancing surgical efficiency and graft quality through advanced technology. Founded in 2013 in West Bridgewater, US, Saphena Medical, Inc. specializes in surgical solutions for Endoscopic Vessel Harvesting.

The company has secured a total of USD 2. 06 mn in Series D funding, which is the total amount raised to date. The CEO is Michael Glennon. Saphena Medical specializes in innovative surgical solutions for Endoscopic Vessel Harvesting (EVH), primarily through its flagship product, Venapax.

This unitary system simplifies the dissection and simultaneous branch ligation process in vascular surgeries, enabling a minimal touch approach that optimizes graft quality. Venapax addresses significant challenges faced by surgeons, including the steep learning curve typically associated with EVH, which has been the standard of care for over two decades. By focusing on streamlined functionality and user-friendly design, Venapax is aimed at a diverse clientele that includes hospitals and surgical centers, enhancing the efficiency and effectiveness of vascular harvest procedures. The company’s products are marketed predominantly in North America and Europe, catering to healthcare professionals who demand high-quality, reliable surgical instruments.

Saphena Medical generates revenue through direct sales of its Venapax system to healthcare facilities, including hospitals and surgical centers that perform vascular surgeries. The transaction structure is primarily B2B, with orders placed directly by medical institutions that require these specialized surgical devices. Revenue is driven by both the sale of the Venapax system and associated training services, which help healthcare professionals to effectively integrate the technology into their practices. Specific pricing plans for the Venapax system are established based on the scope of the purchase agreement and the volume of units ordered, though detailed pricing structures are proprietary.

The company's focus on providing a comprehensive solution, which includes training and ongoing support, ensures a robust revenue stream from its flagship product offering. As of June 2018, Saphena Medical, Inc. raised USD 2. 06 mn in Series D funding, which will support the development and launch of upcoming products in the pipeline, aimed at enhancing their surgical offerings.

The company plans to expand its market presence into Europe and Asia by 2025, targeting hospitals and surgical centers that perform vascular surgeries to increase their customer base. This expansion strategy is designed to leverage the recent funding to scale operations and enhance product accessibility in these new regions.