CardioFocus, Inc.
- Industry
- Medical Devices
- Founded Year
- 1990
- Headquarters
- Marlborough, Massachusetts, United States
- Employee Count
- 86
Key People
- Burke T. Barrett - Chief Executive Officer & Board Member
- Stephan Ogilvie - Chief Financial Officer
- Paul LaViolette - Executive Chairman
- Jerry Melsky - Vice President, Product Development
- Rebecca Anderson - Vice President of Program Management
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with significant backgrounds in the medical device industry.
The presence of seasoned executives with prior successes in MedTech enhances the company's strategic direction and operational execution.
- Clinical Need
-
Aspect: Very Strong
Summary: Atrial fibrillation (AFib) is a prevalent cardiac disorder with significant unmet clinical needs.
With millions affected globally, innovative treatments for AFib are in high demand, presenting substantial market opportunities.
- Competition
-
Aspect: Very crowded + Strategics
Summary: The AFib treatment market is highly competitive, with major players like Biosense Webster, Abbott Laboratories, and Medtronic.
The presence of large, well-funded competitors poses challenges for market penetration and differentiation.
- Technical Challenge
-
Aspect: Predictable
Summary: The technology involves advanced catheter ablation systems with established methodologies.
While complex, the technical challenges are well-understood, allowing for systematic development and refinement.
- Patent
-
Aspect: Strong
Summary: The company holds patents for its HeartLight Endoscopic Ablation System.
Strong patent protection can safeguard the company's innovations and provide a competitive edge in the market.
- Financing
-
Aspect: Well-funded
Summary: CardioFocus has raised approximately $269 million over multiple funding rounds.
The significant capital raised enables the company to invest in R&D, manufacturing, and market expansion efforts.
- Regulatory
-
Aspect: 510k/PMA
Summary: The HeartLight System has received FDA approval and CE Mark certification.
Achieving these certifications demonstrates compliance with stringent standards, allowing for commercial distribution in key markets.
Opportunity Rollup
- Odds of Success
- 3.3
- Peak Market Share
- 3.9
- Segment CAGR
- 4.5%
- Market Segment
- Cardiac Ablation Devices
- Market Sub Segment
- Atrial Fibrillation Treatment
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.20 |
| 2 | 0.58 |
| 3 | 1.36 |
| 4 | 2.73 |
| 5 | 3.90 |
Key Takeaway
CardioFocus operates in a competitive market with strong leadership and innovative products, addressing a significant clinical need in atrial fibrillation treatment.