Checkpoint Surgical

Key People

• Derek Lewis - President and Chief Executive Officer
• Laura Keck - Chief Financial Officer
• Kevin Scanlan - Senior Vice President of Clinical Services
• Elliott Phillips - Vice President of Sales
• Kristin Wolff - Vice President of Marketing
• Don Hubbard - Senior Vice President of Development
• Ben Cottrill - Vice President of Engineering

Assessment

Team

Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with significant backgrounds in medical device development and commercialization.

The leadership team includes individuals with substantial experience in the medical device industry, such as Derek Lewis, who has led product development and operations, and Laura Keck, with a background in financial leadership in high-growth companies. This collective expertise enhances the company's ability to navigate the complexities of the MedTech market.

Clinical Need

Aspect: Very Strong
Summary: Checkpoint Surgical addresses a critical need in intraoperative nerve care, providing devices that assist surgeons in nerve protection and repair.

The company's nerve stimulation devices are designed to inform intraoperative decision-making, helping surgeons protect, assess, and repair motor nerves during surgery. This addresses a vital need in surgical procedures, potentially reducing complications and improving patient outcomes.

Competition

Aspect: Somewhat crowded
Summary: The market for intraoperative nerve stimulation devices includes several competitors, though Checkpoint Surgical has established a strong presence.

The intraoperative nerve stimulation device market features multiple players offering similar products. However, Checkpoint Surgical's focus on innovation and its established reputation provide a competitive edge in this somewhat crowded landscape.

Technical Challenge

Aspect: Predictable
Summary: The development of nerve stimulation devices involves manageable technical challenges, with established pathways for innovation.

Developing nerve stimulation devices requires adherence to medical standards and regulatory requirements. The technical challenges are predictable, allowing for systematic innovation and product development within established frameworks.

Patent

Aspect: Strong
Summary: Checkpoint Surgical holds a robust patent portfolio, protecting its innovative technologies in nerve stimulation.

The company's patents cover key aspects of its nerve stimulation technology, providing a competitive advantage and protecting its products from imitation. This strong intellectual property position supports sustained innovation and market leadership.

Financing

Aspect: Well-funded
Summary: Checkpoint Surgical has secured substantial funding, totaling $48.7 million over multiple rounds, supporting its growth and product development.

The company has attracted significant investment from reputable firms, including RC Capital and JumpStart Inc., reflecting confidence in its business model and growth prospects. This financial support facilitates ongoing product development and market expansion.

Regulatory

Aspect: 510k/PMA
Summary: Checkpoint Surgical's products have obtained necessary regulatory clearances, including FDA 510(k) approvals, facilitating market entry.

Achieving FDA 510(k) clearance indicates that the company's products meet safety and efficacy standards, allowing for legal marketing in the United States. This regulatory compliance is crucial for building trust with healthcare providers and patients.

Opportunity Rollup

Odds of Success

3.7

Peak Market Share

4.7

Segment CAGR

4.9%

Market Segment

Neurology Devices

Market Sub Segment

Intraoperative Nerve Monitoring Devices

Key Takeaway

Checkpoint Surgical is well-positioned in the growing nerve care market, leveraging a strong team, innovative products, and solid financial backing to address critical clinical needs.