Rapid Medical
- Industry
- Medical Devices & Equipment
- Founded Year
- 2008
- Headquarters
- Yokneam, Israel
- Employee Count
- 171
Key People
- Ronen Eckhouse - Co-Founder and CEO
- James Romero - President, Americas
- G. K. - CTO
- S. E. - Co-Founder and Chairman
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with a strong background in medical technology.
The presence of multiple successful MedTech entrepreneurs in the leadership team suggests a high level of expertise and a proven track record in the industry, which is advantageous for the company's growth and innovation.
- Clinical Need
-
Aspect: Very Strong
Summary: The company's products address critical needs in neurovascular therapy, particularly for ischemic and hemorrhagic strokes.
By focusing on treatments for severe conditions like strokes, the company taps into a substantial and growing market, fulfilling urgent medical requirements and potentially improving patient outcomes.
- Competition
-
Aspect: Very crowded + Strategics
Summary: The neurovascular devices market is highly competitive, with major players like Medtronic, Stryker, and Penumbra.
Operating in a market dominated by established companies with extensive resources and market share can make it difficult for newer entrants to gain traction and secure significant market presence.
- Technical Challenge
-
Aspect: Predictable
Summary: The development of neurovascular devices involves complex but manageable technical challenges.
While the development of such devices is intricate, the company's successful product approvals indicate a strong ability to navigate these challenges effectively.
- Patent
-
Aspect: Very Strong
Summary: The company holds over 100 issued patents, indicating a robust intellectual property portfolio.
Holding numerous patents not only protects the company's innovations but also enhances its valuation and attractiveness to investors and partners.
- Financing
-
Aspect: Well-funded
Summary: The company has secured significant funding, including a $50M Series D round led by strategic investors.
Substantial financial backing enables the company to invest in research, development, and market expansion, which are crucial for success in the competitive MedTech landscape.
- Regulatory
-
Aspect: 510k/PMA + Reimbursement
Summary: The company's products have received CE marks and FDA clearances, facilitating market entry.
Achieving necessary regulatory approvals is essential for commercializing medical devices, and the company's success in this area indicates compliance with stringent standards, boosting trust among healthcare providers and patients.
Opportunity Rollup
- Odds of Success
- 3.45
- Peak Market Share
- 4.25
- Segment CAGR
- 7.6%
- Market Segment
- Neurovascular Devices
- Market Sub Segment
- Thrombectomy Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.21 |
| 2 | 0.64 |
| 3 | 1.49 |
| 4 | 2.97 |
| 5 | 4.25 |
Key Takeaway
Rapid Medical's strong team and innovative products position it well in the neurovascular devices market, but it faces significant competition and regulatory challenges.