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RF Surgical Systems
RF Surgical Systems Inc | Retained surgical sponge prevention | OR patient safety | RFSurg.com
About RF Surgical Systems
RF Surgical Systems, Inc. operates as a medical device company focused on enhancing patient safety in the operating room. Founded in 2004, the company was conceptualized by Dr. Jeffrey Port, a thoracic surgeon, and William Blair, an electrical engineer. Dr. Port's clinical background includes a specialization in lung and esophageal cancers, and he is a Professor of Cardiothoracic Surgery at New York Presbyterian-Weill Cornell Medical Center. William Blair, an electrical engineer by training, served as the company's Chief Technical Officer and has a background in technology management with ventures in tablet computing and telecommunications.
The company's core business revolves around the prevention of retained surgical items, a significant patient safety concern. RF Surgical developed a proprietary detection system that utilizes a low radio frequency (RF) signal to track and locate surgical sponges, gauze, and towels embedded with a special RF tag. This system is designed to work effectively through blood, dense tissue, and bone, serving as a crucial adjunct to manual counting protocols in hospitals. The product line includes the RF Assure Detection System, which features a console and a scanning wand, such as the Blair-Port Wand, to scan a patient before the conclusion of a surgical procedure. An alert is triggered if any tagged item remains inside the patient. The company's clients are primarily acute care hospitals and surgical centers. Revenue was generated through the sale of these detection systems and the accompanying tagged disposable items.
A significant milestone for RF Surgical Systems was receiving FDA approval for its technology, with the first clearance for its surgical sponge detection system coming in November 2006. Over the years, the company expanded its product offerings with systems like the RF Assure Detection System X, which introduced enhanced compliance features and specialized scanning components for different surgical specialties. After raising over $44.9 million in funding from investors including Menlo Ventures and Split Rock Partners, RF Surgical Systems was acquired by Medtronic in August 2015 for approximately $235 million. This acquisition integrated RF Surgical's technology into Medtronic's Surgical Solutions division, aiming to establish it as a global standard of care.
Source: Dealroom company dataAt a glance
- Status
- Acquired
- Founded
- 2004
- Headquarters
- Carlsbad, United States
- Employees
- 5
- Open positions
- None listed
- Dealroom signal
- 57.6/100
- Industry
- Health
- Sub-industry
- BioTechnology, Medical Devices
- Sector
- Biotech & Life Sciences, Risk Management, Biotechnology, Surgery, Biotech and Pharma, Hard Tech, DT and LS, science-based
- Business model
- Manufacturing
- Client focus
- b2c
Knowledge graph
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Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| ACQUISITION✓Exit | Jul 2015 | $235M | — | Medtronic | — |
| LATE VC✓Equity / VC | Apr 2014 | $15M | $60M | Oxford Finance | — |
Growth signals
Latest recorded traffic for RF Surgical Systems is 80 monthly website visits.
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Investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Series B and later3 investors entered at this stage
Menlo Ventures
Oxford Finance
Split Rock Partners
Other known investors1 additional known investor
Medtronic
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
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