Bardy Diagnostics
- Industry
- Medical Devices
- Founded Year
- 2013
- Headquarters
- Charlotte, North Carolina, USA
- Employee Count
- 230
Key People
- Dr. Gust H. Bardy - Founder and Chief Medical Officer
Assessment
- Team
-
Aspect: 1 successful MedTech entrepreneur
Summary: Led by Dr. Gust H. Bardy, an experienced electrophysiologist and entrepreneur.
Dr. Bardy's background as an electrophysiologist and his previous entrepreneurial ventures provide a solid foundation for the company's leadership.
- Clinical Need
-
Aspect: Very Strong
Summary: High demand for accurate and comfortable cardiac monitoring solutions.
The Carnation Ambulatory Monitor (CAM) offers a patient-friendly solution for detecting arrhythmias, meeting a critical need in cardiac care.
- Competition
-
Aspect: Very crowded + Strategics
Summary: Market includes established players and recent strategic acquisitions.
The cardiac monitoring market features significant competition from companies like iRhythm Technologies and BioTelemetry, which was acquired by Philips for $2.8 billion.
- Technical Challenge
-
Aspect: Predictable
Summary: Development of non-invasive, accurate cardiac monitors is well-understood.
The technology behind wearable cardiac monitors is established, reducing development risks.
- Patent
-
Aspect: Strong
Summary: Company holds patents for its cardiac monitoring technology.
Bardy Diagnostics' patents protect its unique approach to cardiac monitoring, enhancing its market position.
- Financing
-
Aspect: Strategics
Summary: Acquired by Hillrom for $375 million.
The acquisition by Hillrom provides substantial resources for growth and development.
- Regulatory
-
Aspect: 510k/PMA
Summary: Received FDA clearance for its CAM patch.
FDA clearance indicates compliance with regulatory standards, enabling product commercialization.
Opportunity Rollup
- Odds of Success
- 3.35
- Peak Market Share
- 4.3
- Segment CAGR
- 9.1%
- Market Segment
- Cardiac Monitoring Devices
- Market Sub Segment
- Wearable ECG Monitors
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.22 |
| 2 | 0.64 |
| 3 | 1.50 |
| 4 | 3.01 |
| 5 | 4.30 |
Key Takeaway
Bardy Diagnostics, with its innovative CAM patch and strategic acquisition by Hillrom, is well-positioned in the growing cardiac monitoring market, despite facing competitive and regulatory challenges.