PrefTech Secures $1.3 Million in Debt

Matthew Boehm

PrefTech, which runs a cloud-based platform to deliver vital information surgeons need in operating rooms, has secured $1.3 million in debt, according to a listing on Crunchbase. The Fairfax., Va., startup has previously raised $2.5 million in seed funding from investors including former Oracle executive Dave Roux.

Founded in 2015 by Matthew Boehm, a former Northrup Grumman engineer, and Jeff Radous, PrefTech has developed a cloud-based platform that enables operating room staff to track and optimize so-called preference cards — catalogues of tools, supplies and room setup that a surgeon prefers for a particular type of operation. Boehm helms the company while Radous is vice president of client success.

PrefTech’s approach is a big advance on traditional preference card management solutions that use paper, Excel spreadsheets, in-person meetings and ad hoc processes. An early attempt to computerize the process began in 2010 but PrefTech takes it farther with a cloud-based platform and further improvements via more advanced technologies, such as artificial intelligence.

The company’s AI engine, called Nightingale, continuously monitors preference card quality, generates actionable update guidance and captures savings opportunities. Some other platform features allow a surgeon’s team or hospital authorities to evaluate medical supplies utilized in procedures, compare or swap cards, and to optimize needs. PrefTech is also adding key performance indicators (KPIs) and integrating with advanced electronic medical records or EMR.

PrefTech’s board includes Dr. David Torchiana, a former cardiac surgeon and CEO of Partners HealthCare (now known as Mass General Brigham). He graduated from Harvard Medical School in 1981, after undergraduate studies at Yale.

“Dr. Torchiana brings a deep understanding of the challenges associated with running modern operating rooms, as well as valuable perspective on how health systems can implement and deliver effective digital health solutions,” Boehm said, when Torchiana was named to PrefTech’s board in 2021.

Angel Investor

Dave Roux not only joined a seed round for PrefTech but brought deep insights into the preference card system from his decades of experience in IT, and helped establish PrefTech. He previously co-founded Silver Lake and served as co-CEO. He has served as chairman and CEO of Liberate Technologies, and held senior executive positions at Oracle Corp. Roux has served on the boards of Avaya, Business Objects, Gartner, Intelsat, Symantec, Thomson and UGS Corp. He served as chairman of the board of Seagate Technology and Serena Software.