Osgenic Company Profile

Background

Overview

Founded in 2017 and headquartered in Helsinki, Finland, Osgenic is a physician-led technology company dedicated to reducing preventable surgical complications. By integrating medical science with advanced technologies, Osgenic develops solutions tailored to enhance surgical training and patient safety. The company is co-owned by over 500 medical doctors, ensuring a strong commitment to scientific rigor and responsibility towards the medical community.

Mission and Vision

Osgenic's mission is to decrease preventable surgical complications by providing high-quality resources that facilitate a faster understanding of critical aspects in orthopaedics, traumatology, and related disciplines.

Key Strategic Focus

Core Objectives

Enhancing Surgical Training: Developing virtual reality-based simulators to provide surgeons with realistic, high-resolution environments for procedure preparation.

Improving Patient Safety: Reducing surgical complications through better-prepared surgical teams.

Areas of Specialization

Orthopaedic and Traumatology Training: Offering resources that combine video demonstrations, written surgical plans, and virtual models to support surgical education and skill mastery.

Key Technologies Utilized

Virtual Reality (VR): Creating immersive, human-eye resolution simulations for complex open surgeries.

3D Anatomy Modeling: Providing interactive 3D anatomy in clinically relevant contexts to bridge theoretical knowledge with practical application.

Primary Markets Targeted

Medical Institutions: Hospitals, orthopedic departments, residency programs, and medical schools seeking advanced surgical training tools.

Individual Practitioners: Surgeons and medical professionals aiming to enhance their procedural skills and knowledge.

Financials and Funding

Funding History

Pre-Seed Investment (August 2017): Received initial funding from Icebreaker.vc.

Seed Round (March 2019): Secured approximately $1 million from Icebreaker.vc, Nordic XR Startups, and over 30 medical professionals and entrepreneurs.

Equity Crowdfunding (February 2021): Raised €5 million through a campaign managed by Springvest.

Notable Investors

Icebreaker.vc: A venture capital firm supporting early-stage technology companies.

Nordic XR Startups: An accelerator focusing on extended reality (XR) startups.

Springvest: A Finnish investment firm specializing in growth companies.

Utilization of Capital

The funds have been allocated to:

Scaling the VR-based surgical training solutions to various procedures.

Piloting the technology with leading international hospitals.

Expanding the development team, including programmers, modelers, and medical professionals.

Pipeline Development

Key Products

VR-Based Surgical Simulator: A platform enabling surgeons to prepare for complex open surgeries in a virtual environment, aiming to reduce surgical complications and improve patient safety.

Development Stages

Initial Product Launch (2019): Introduced the first orthopedic product to the market, with the Päijät-Häme Central Hospital in Finland as the inaugural client.

Pilot Projects: Conducted pilot projects with international hospitals, including a German University Hospital, to refine and validate the training solutions.

Target Conditions

Orthopaedic Procedures: Focusing on training for various orthopedic surgeries to enhance procedural proficiency.

Anticipated Milestones

Market Expansion: Aiming to capture a 5-10% market share within five years, positioning Osgenic as a global leader in surgical training solutions.

Technological Platform and Innovation

Proprietary Technologies

Osgenic Invivo: An interactive 3D anatomy tool that provides clinically relevant contexts, allowing users to create unique anatomy illustrations for presentations.

Significant Scientific Methods

High-Resolution VR Simulations: Utilizing advanced VR technology to create realistic surgical environments for training purposes.

Comprehensive Educational Content: Integrating video demonstrations, written surgical plans, and virtual models to support surgical education and skill mastery.

Leadership Team

Arne Schlenzka, MD: Co-Founder & Chief Executive Officer.

Henri Korhola: Chief Technology Officer & Head of Development.

Éclair Photitai: Growth Lead.

Jouni Lohikoski: Co-Founder.

Competitor Profile

Market Insights and Dynamics

The surgical training market is experiencing significant growth, driven by advancements in technology and the increasing demand for improved patient outcomes. Virtual reality and simulation-based training are becoming integral components of medical education, offering immersive and risk-free environments for skill development.

Competitor Analysis

Immertec: Provides surgical training solutions using virtual reality technology.

Precision OS: Specializes in VR surgical simulation for orthopedic surgeons.

ADESANTE: Offers visual intelligence tools for surgery planning.

Touch of Life Technologies: Develops solutions for anatomy education and VR-based medical procedure simulators.

Oxford Medical Simulation: Develops VR and simulation platforms for academic institutions and the healthcare sector.

Strategic Collaborations and Partnerships

Osgenic has engaged in pilot projects with leading international hospitals, including the Päijät-Häme Central Hospital in Finland and a German University Hospital, to validate and refine its VR-based surgical training solutions.

Operational Insights

Strategic Considerations

Market Position: Osgenic aims to establish itself as a global leader in surgical training solutions by leveraging its physician-led approach and advanced VR technology.

Competitive Advantages: The company's co-ownership by over 500 medical doctors ensures that product development is closely aligned with clinical realities and user needs.

Strategic Opportunities and Future Directions

Strategic Roadmap

Product Expansion: Developing training solutions for a broader range of surgical procedures beyond orthopaedics.

Market Penetration: Aiming to secure a 5-10% market share within five years, positioning Osgenic as a global leader in surgical training solutions.

Opportunities for Expansion

Geographical Reach: Expanding into new international markets to increase adoption of Osgenic's training solutions.

Technological Integration: Incorporating emerging technologies such as artificial intelligence to enhance the realism and effectiveness of training simulations.

Current Strengths Positioning for Future Objectives

Physician-Led Development: Ensures that products are designed with a deep understanding of surgical procedures and training needs.

Strong Investor Base: Support from venture capital firms and a large network of medical professionals provides both financial stability and valuable industry insights.