Less than 2 weeks ago.
Avail Medsystems is and was a fantastic organization led by some of the great minds of the medtech industry. A group of people that had vision and courage.
The roots of the current institution of healthcare, and especially the hospital, go deep. Therefore, change of any sort becomes an issue. Designing any medical device, workflow consideration is one of the keys to adoption and ongoing utilization.
It is Change Management that was under-estimated.
As this young category stumbled through its early years, we are always more of what we do not know than what we do know.
When we introduce a tool that, at its core, requires adoption across IT, finance, clinical, OR workflow, cybersecurity, OEM sales interaction, and overall hospital administration, it will be a long, brutal street fight.
As this category found its way, it had to make certain assumptions about the product, service, and users.
As we take on something new and complex, we must play the fool before we can be the master.
We tend to be less accurate with our assumptions and the forecasted headwinds as we pick a direction to go. That means by design, a company must burn through time and people, which means money.
Being in the most difficult funding period that medtech has likely ever seen, and highly likely that Avail was existing on a bridge financing arrangement, and at the 11th hour, the person(s) that were to write a check chose not to and that likely left Avail with no other alternative.
Every startup has had this moment of standing on the line of existing one day or not existing the next. The 11th-hour stomach ulcers, night sweats, brain vice, and massive anxiety live in every CEO more often than you will ever know if you have not personally experienced it.
Thank you to all of the current and past team members of Avail Medsystems.