COVID catalyzed procedural telemedicine pioneer Avail’s efforts to improve efficiencies in both medtech sales and medical education through its remote technology system. In the process, the company has attracted significant tech investors, raising a $100 million Series B round over Zoom and turning what was a slower growth area into a red-hot space. Part 1 of a 2-part feature.
When John Adams said, “Every problem is an opportunity in disguise,” he was probably not thinking in terms of a global pandemic. Yet, for Avail Medsystems Inc., that has been the impact of COVID-19. While most medtech companies have struggled with the effects of elective surgical procedures being suspended and in-person access to hospitals, physicians, and other customers restricted largely to remote contact, for Avail, which is pioneering what the company calls “procedural telemedicine,” the changes triggered by the pandemic proved to be a boon for its strategy that could never have been anticipated or otherwise achieved.