5 Questions with a Providence Ventures Partner: Bolder Surgical
In January 2019, Providence Ventures participated in the latest funding round for Bolder Surgical. David Kereiakes, a partner at Providence Ventures, answers some key questions regarding the Company and its value proposition to health systems.
What does Bolder Surgical do?
Bolder Surgical revolutionized minimally invasive surgery in children by providing right-sized instruments that improve access and visibility in pediatric and micro-laparoscopic procedures. Formerly known as JustRight Surgical, Bolder offers the only FDA approved surgical sealer and stapler designed specifically for pediatric surgery and has an exclusive licensing arrangement for energy-based vessel sealing with Intuitive Surgical, the world’s market leader in surgical robotics.
Why did you invest in Bolder Surgical?
Some of our world-class pediatric surgeons had already identified the value of Bolder’s instruments and the benefits afforded to them and their patients. We were able to call upon these surgeons and we quickly recognized that this technology enabled minimally invasive approaches for pediatric and neonatal patients who otherwise would not have a solution or would require an invasive open procedure. Upon expanding our diligence further, we also recognized how grossly underserved this patient population and surgeon base have been from a technological standpoint. For us, it became an easy decision to partner with a remarkably talented and proven management team that had already developed one of the most novel and sophisticated surgical tools we’ve seen in the pediatric space with far broader applications in other surgical specialties.
How can this partnership potentially help current Providence patients?
Bolder was helping our patients well before our investment and our patients will continue to see great benefit after our investment. First, access to the only surgical tools of their type approved specifically for pediatric use has allowed surgeons within PSJH to utilize appropriately-sized instruments enabling a minimally invasive surgical approach for a multitude of pediatric procedures that otherwise would not have a solution or would require an invasive alternative procedure. The novel technology designed specifically for our smaller patients is a key differentiator in most of the communities we care for. It is our hope to be able to expand the offering across all of our facilities that care for pediatric patients and further help Bolder explore the technology’s benefits in other procedures.
We are very excited to partner with the talented development team at Bolder who have routinely accomplished what previously was thought to be impossible. By enabling a direct line of communication to our world class surgeons, we are confident that we will collectively drive shorter development times and further clinical advancements not only for the communities we at PSJH care for, but healthcare across the world.
How is Bolder Surgical helping to create the future of health care?
Bolder Surgical has established a mission and strategy that dedicates ample resources toward offering real solutions for patients in need today, while simultaneously executing on a robust development pipeline. The recent name change from JustRight to Bolder Surgical is part of a rebranding initiative intended to align with a long-term vision that expands their surgical platform beyond pediatrics and into a host of clinical applications that will see great benefit from the clear clinical advantages the novel platform offers. We are also excited about the Company’s partnership with Intuitive Surgical, and feel it positions Bolder to continue its rapid pace of innovation and adoption.
What happens next?
We share the passion exhibited by the team at Bolder Surgical and have personally bought into their mission to deliver best in class surgical tools to the local and global communities we care for. We feel the future is bright for the company and hope we might continue to play a supporting role in their ultimate success.
To hear more about Bolder Surgical, and its partnership with Providence Ventures, check out our latest episode of our Funding The Future podcast: