BOSTON--(BUSINESS WIRE)--AcuityMD today announced its commercial intelligence platform for medical technology (MedTech) companies is now leveraged by more than 200 MedTech organizations, including six of the top 10 global MedTech companies, to modernize commercial operations and grow revenue. BD (Becton, Dickinson and Company) expanded use of AcuityMD’s platform to two divisions and more than 300 users, replacing manual processes with rich, real-time data analytics and insights to rapidly grow market share.
The medical device industry has been struggling with poor data for decades. The consensus of industry leaders at AcuityMD’s 2023 Flywheel event in Boston is that MedTech companies have too many blind spots with their customers. Data is often incomplete, outdated, and stuck in silos, making it hard to effectively share with sales teams. As a result, companies can miss out on revenue, and patients may not have access to the latest technologies.
“We needed better, more real-time, and dependable data,” said Todd Dieckhoner, Vice President & General Manager, U.S. Region at BD, one of the largest global MedTech companies in the world. BD first started using AcuityMD’s platform for its Peripheral Intervention business unit and recently expanded into the Surgery unit.
Dieckhoner continued, “With AcuityMD, we found new business that we never knew existed, and it allowed us to convert a significant amount of pipeline over a short period of time. Every time we're launching a product or buying an asset, we now use AcuityMD to identify the market opportunity. Our sales teams clamored for licenses to be able to execute better. Plus, the AcuityMD team has gone above and beyond to support our complex business needs.”
Customers are also using AcuityMD’s best-in-class data to build accurate market models, triangulating detailed procedure-level data into strategic go-to-market strategies for product launches, market expansions, and acquisition evaluations. For example, SI-BONE®, developer of the iFuse Implant System® intended for sacroiliac fusion, is utilizing AcuityMD’s platform to help identify hard-to-find physicians quickly.
“We urgently needed to identify physicians whose patients could benefit from our life-changing technology,” said Kyle Nishkian, SI-BONE’s Vice President of Product Marketing. “AcuityMD’s platform delivered accurate insights and sales management support that has increased our pipeline. Equally important, their stellar customer success team not only understands our unique business objectives, but is proactive, growth-minded, and always ready to go the extra mile.”
AcuityMD’s commercial platform translates large volumes of healthcare data, such as physician procedural volumes, product preferences, sites-of-care affiliations, peer networks, and referral patterns into intuitive workflows and recommendations that align with the MedTech industry’s unique commercial process. It has resulted in more than 25% sales growth for top active sales reps and over $10 billion in opportunity pipeline created.
“Our software and data platform has been the bedrock upon which over 200 MedTech companies have built their strategies, identified new markets, and launched innovative products,” added Michael Monovoukas, AcuityMD CEO and Co-Founder. “We’re focused on accelerating the adoption of cutting-edge medical technology and proud to partner with customers who share in our mission.”
In other news, AcuityMD announced a $45 million Series B funding raise, which will be used to boost the company’s mission to accelerate the adoption of cutting-edge medical technology.
About AcuityMD
AcuityMD is a leading technology partner to the commercial MedTech industry. Over 200 companies use AcuityMD’s commercial platform to identify target markets, surface top opportunities, and grow their business. With customers ranging from pre-commercial to enterprise, AcuityMD is committed to providing MedTech companies with unparalleled visibility to accelerate adoption of cutting-edge medical technology. For more information, visit acuitymd.com.
