Oath Surgical has raised $24m to continue scaling a national network of surgery centres to support a lower-cost, more streamlined approach to outpatient surgical care.
Bringing the Oregon-based company’s total funding to date to around $35m, the oversubscribed Series A funding round was led by FPV Ventures and supported by McKesson Ventures. Existing investors including OSE, Black Opal Ventures, and Rogue VC also participated.
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Oath plans to use the fresh funds to expand into new surgical specialities and continue scaling its national network of surgeon-owned surgery centres that are underpinned by OathOS, an artificial intelligence (AI)-based platform the company claims is the only system of its kind intended to replace the surgery industry’s patchwork of disparate systems.
OathOS is designed to automate the entire surgical journey, from referral to recovery, to make surgical procedure faster, safer, and more consistent, according to Oath.
Oath said its national network creates alignment across stakeholders so that payors are able to channel complex procedures to lower-cost, high-quality settings.
According to Oath, the network has now grown to over 150 surgeon partners across the West Coast and demonstrated cost savings of up to 80% versus hospital-based procedures.
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By GlobalDataDue to the Centers for Medicare & Medicaid Services’ (CMS) proposed changes to the Hospital Outpatient Prospective Payment System (OPPS) and Ambulatory Surgical Centers (ASCs) rule for 2026, surgery is “at a turning point”, Oath’s CEO Oliver Keown said.
The CMS’s regulation outlines a 2.4% increase in Medicare and Medicaid payment rates for hospitals paid under the OPPS and to ASCs, indicating a push towards more outpatient care.
According to Oath, the change means that 51 million procedures will be to move to outpatient care settings, thereby resulting in a rising demand across the US for surgery centres that can deliver complex care safely and at scale.
With the Series A funds, Oath plans to expand its network of multispecialty surgical centres into further modalities including urology, gynaecology, general surgery, and neurology spine.
Keown said: “The shift of complex care out of hospitals is inevitable, but it won’t happen by chance. It will take a new kind of system – high-tech, surgeon-led, and aligned across patients, providers, and payors. That’s what we’re building at Oath.”
