Inovus Medical

The company's business model centers on the sale of a range of surgical simulators, from low-fidelity take-home models to high-fidelity systems, that are more affordable than traditional options. Inovus generates revenue through direct sales of these training devices and their associated software and accessories. Their simulators serve various specialties, including general surgery, gynecology, and neurosurgery. The product line features hybrid simulators that combine physical models with digital technology to provide realistic tactile feedback (natural haptics) while using real surgical instruments.

A key product is the LapAR, a high-fidelity laparoscopic simulator launched in 2020 that uses augmented reality to create immersive, headset-free training environments. This is powered by the company's digital surgery platform, Totum, which uses computer vision and data analytics to track surgeon performance and provide objective feedback. This technology allows for the capture of data on instrument handling and decision-making, which can be used for training AI models. The company has established significant partnerships, including one with Hologic to implement simulators in gynecology residency programs across the U.S. and another with UpSurgeOn to create a 'digital synthetic cadaver' for neurosurgery.

Since its founding, Inovus Medical has been profitable and has expanded its presence globally, with its technology used in over 60% of NHS trusts in the UK and sold in more than 70 countries. The company has secured multiple funding rounds, including a $7 million Series A in 2022, to fuel its expansion, particularly in the North American market.