Podimetrics
- Industry
- Health Services
- Founded Year
- 2011
- Headquarters
- Somerville, Massachusetts, United States
- Employee Count
- 145
Key People
- Jon Bloom - CEO
- M. O. - Chief Data and Technology Officer
- B. G. - Chief Commercial Officer
- K. M. - Chief Compliance Officer
Assessment
- Team
-
Aspect: First-time physician innovator
Summary: Led by CEO Jon Bloom, a physician innovator, with a team comprising experienced professionals in data, technology, commercial, and compliance roles.
The combination of medical and technological leadership suggests a strong foundation for developing and commercializing healthcare solutions.
- Clinical Need
-
Aspect: Very Strong
Summary: Addresses the critical issue of diabetic foot ulcers, which can lead to amputations if untreated.
With diabetes-related amputations rising by 50% between 2009 and 2015, the need for preventive solutions like Podimetrics' SmartMat is substantial.
- Competition
-
Aspect: Somewhat crowded
Summary: Competes with companies like Orpyx, Siren, and FeetMe in the diabetic foot monitoring space.
While the market is competitive, Podimetrics' FDA-cleared SmartMat and established partnerships may provide a competitive edge.
- Technical Challenge
-
Aspect: Predictable
Summary: Developed an FDA-cleared SmartMat for early detection of foot complications.
The successful development and clearance of the SmartMat suggest that technical challenges have been effectively managed.
- Patent
-
Aspect: Strong
Summary: Holds patents related to its SmartMat technology.
Patents provide a barrier to entry for competitors and can be leveraged for strategic partnerships or licensing.
- Financing
-
Aspect: Well-funded
Summary: Raised $45M in Series C funding led by D1 Capital Partners, with total funding of $105M.
Adequate financing allows the company to scale operations, invest in R&D, and navigate market challenges effectively.
- Regulatory
-
Aspect: 510k/PMA
Summary: Obtained FDA clearance for the SmartMat device.
FDA clearance indicates compliance with safety and efficacy standards, which is crucial for gaining trust among healthcare providers and patients.
Opportunity Rollup
- Odds of Success
- 4.1
- Peak Market Share
- 5.8
- Segment CAGR
- 5.4%
- Market Segment
- Diabetic Foot Ulcer Prevention
- Market Sub Segment
- At-Home Monitoring Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.29 |
| 2 | 0.87 |
| 3 | 2.03 |
| 4 | 4.06 |
| 5 | 5.80 |
Key Takeaway
Podimetrics is well-positioned to address a critical healthcare need with its FDA-cleared SmartMat, supported by strong leadership, substantial funding, and favorable industry trends.