The Patient Company, a medical device startup, has secured a Series A investment of $3.3M.

November 1, 2023

The Patient Company has closed an investment round to move the product into the commercial stage

The Patient Company, a medical device startup, has secured a Series A investment of $3.3M.

The Patient Company’s lead product, the SimPull, uses a powered winch and pull bar to facilitate the smooth movement and repositioning of patients in clinical settings. It’s designed to reduce the number of clinicians, nurses, and other staff traditionally required to reposition or transfer patients.

“Manual patient transfers are challenging, requiring significant labor and time, and they pose risks to both patient and clinician health,” said Matt Okoneski, Senior Venture Associate at Michigan Rise. “The Patient Company is seeing rapid adoption of their product, and we think their solution has a legitimate chance at disrupting the decades-old status quo for patient transfers.”

Co-founders Andrew Heuerman and Ryan Peters launched The Patient Company in August 2019 through Spectrum Health Ventures, in collaboration with clinicians at Spectrum Health. From August 2019 to March 2023, the team worked to further develop and commercialize SimPull through the required FDA processes while completing research programs.

In 2023, The Patient Company completed its second clinical study with Corewell Health. These studies have proven SimPull to be a feasible solution for lateral patient transfers while reducing the time required and reducing injury risk to both patients and staff. The Patient Company is now underway with their third and final study of SimPull for lateral patient transfer at the Mayo Clinic. In addition, SimPull has required the necessary FDA Approvals to begin sales.

These recently completed milestones have taken SimPull from the development stage into a commercial stage, and that’s what made this an opportune time to close an investment round. With this latest investment, The Patient Company will begin fulfilling initial orders by beginning manufacturing. The funds will also go to support sales efforts, further product development, and research.

About The Patient Company

Through the development and commercialization of new medical devices and products, The Patient Company aims to redefine what a medical device/product provider should be. The Patient Company is dedicated and focused on improving quality, clinical safety, and employee satisfaction, understanding that these goals are all centered around one clear task: providing clinical staff members with superior tools to better take care of their patients.