Ultromics
- Industry
- Artificial Intelligence in Healthcare
- Founded Year
- 2017
- Headquarters
- Oxford, United Kingdom
- Employee Count
- 70
Key People
- Dr. Ross Upton - Co-founder & CEO
- Prof. Paul Leeson - Co-founder & Chief Medical Officer
- John Russell - Chairman
- Amir Hasan - Chief Operating Officer
- Gary Woodward - Chief Product Officer
- Nancy Spagou - Chief Experience Officer
- Jaco Jacobs - Chief Regulatory and Compliance Officer
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with backgrounds in medical technology and business.
Dr. Ross Upton, the CEO, has a strong background in cardiovascular research, and the team includes seasoned executives with expertise in product development and operations.
- Clinical Need
-
Aspect: Very Strong
Summary: Cardiovascular disease is a leading cause of mortality worldwide, indicating a significant need for improved diagnostic tools.
With cardiovascular diseases accounting for approximately 17.9 million deaths annually, there is a pressing demand for accurate and efficient diagnostic solutions.
- Competition
-
Aspect: Somewhat crowded
Summary: The market for AI-driven cardiovascular diagnostics is competitive, with several players offering similar solutions.
While Ultromics offers innovative solutions, it faces competition from other companies developing AI-based diagnostic tools for cardiovascular diseases.
- Technical Challenge
-
Aspect: Predictable
Summary: The development of AI algorithms for echocardiography analysis is complex but follows established methodologies.
Ultromics has demonstrated the ability to develop and deploy AI solutions effectively, indicating a strong technical foundation.
- Patent
-
Aspect: Strong
Summary: The company holds patents that protect its AI technologies for cardiovascular diagnostics.
Patents covering key technologies provide Ultromics with a defensible position in the market.
- Financing
-
Aspect: Well-funded
Summary: Ultromics has secured significant funding through multiple investment rounds.
With a $33 million Series B round in 2021 and a $55 million Series C round in 2025, the company is well-capitalized to pursue its strategic objectives.
- Regulatory
-
Aspect: 510k/PMA
Summary: The company has obtained FDA clearances for its products, facilitating market entry.
FDA clearances for EchoGo Core and EchoGo Pro enable the company to market its solutions in the U.S., a key market for medical devices.
Opportunity Rollup
- Odds of Success
- 3.7
- Peak Market Share
- 4.7
- Segment CAGR
- 4.4%
- Market Segment
- Cardiovascular Devices
- Market Sub Segment
- Diagnostic Imaging
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.24 |
| 2 | 0.70 |
| 3 | 1.64 |
| 4 | 3.29 |
| 5 | 4.70 |
Key Takeaway
Ultromics is well-positioned in the AI-driven cardiovascular diagnostics market, leveraging strong leadership, significant funding, and regulatory approvals to address a critical clinical need.