North East, Md. November 14, 2017 — Operative Experience (OEI), a leading developer of high-fidelity human patient simulators, today announced that it has completed a $5.5 million Series A round of financing with participation from new and existing investors, including a substantial investment from Lou Oberndorf, Executive Chairman of OEI.
OEI has raised over $10 million In private financing and government grants since its founding in 2009. The new round of financing will be used to support the expansion of the company’s sales, marketing, and product development capabilities.
The Series A financing comes during an exceptional year of growth for OEI, including the launch of its all-new birthing simulator, RealMom™ and a rapid increase in sales of its emergency obstetrics and tactical casualty care simulators. The company continues to add simulation industry veterans to its sales and executive team and recently tripled the size of its production capacity at its headquarters in North East, Maryland.
“The healthcare market is primed for the next generation of experiential learning solutions”, said Oberndorf. “OEI’s proven innovation and technology in healthcare simulation puts the company on a path for positive growth and ensures we are well positioned to meet the growing needs of healthcare training and education worldwide.”
OEI produces simulators to rapidly train clinicians and students in critical, life-saving skills in childbirth and emergency obstetrics, tactical trauma training for medics and law enforcement, as well as fully-operable models for trauma surgeries, including damage control laparotomy and emergency thoracotomy. OEI products are characterized by lifelike tissue and high anatomic fidelity.
“Since the transfer of our technology into the commercial healthcare market in 2016, we have continued to experience rapid growth and are on track for a record operating performance this year,” said Mick Navin, President, and CEO of OEI. “We are delighted that our strategic long-term vision is being supported by a strong group of investors who bring a wealth of financial and strategic expertise to the table.”
About Operative Experience, Inc.
Operative Experience, Inc. is on a mission to revolutionize surgical and pre-hospital training. Using medical simulators with unprecedented anatomical and surgical fidelity within a rigorous experiential instructional paradigm, Operative Experience reduces training costs while increasing training effectiveness and retention. The company is dedicated to applying this technology to reduce combat and civilian surgical mortality and to provide humanitarian support to developing countries with limited medical resources.