TracInnovations
- Industry
- Medical Technology
- Founded Year
- 2015
- Headquarters
- Ballerup, Denmark
- Employee Count
- 11
Key People
- Kim Bendixen - Partner and Founder
- Michelle Stock - Director of Business Development and Sales, North America
- Stefan Glimberg - Chief Technology Officer
- Dale Flanders - Chief Executive Officer
Assessment
- Team
-
Aspect: First-time 10+ yrs
Summary: The leadership team comprises experienced professionals with significant industry expertise.
The team includes individuals like CEO Dale Flanders and CTO Stefan Glimberg, who bring substantial experience in medical technology and software development, respectively. This depth of expertise positions the company well for innovation and growth.
- Clinical Need
-
Aspect: Very Strong
Summary: The technology addresses a critical need in MRI diagnostics by reducing motion artifacts without sedation.
TracInnovations' Tracoline system offers a markerless motion tracking solution that enhances MRI image quality by mitigating patient movement. This is particularly beneficial for pediatric and motion-impaired patients, reducing the reliance on sedation and improving diagnostic accuracy.
- Competition
-
Aspect: First mover
Summary: The company appears to be a pioneer in markerless motion tracking for MRI, with limited direct competition.
While there are other motion correction technologies, TracInnovations' markerless approach is unique, offering a competitive edge in the market. This positions the company favorably against potential competitors.
- Technical Challenge
-
Aspect: Predictable
Summary: The technology involves complex but manageable challenges in motion tracking and MRI integration.
Developing a markerless motion tracking system that integrates seamlessly with existing MRI machines requires advanced computer vision and software engineering. The company's successful product development indicates these challenges are being effectively addressed.
- Patent
-
Aspect: Strong
Summary: The company holds multiple patents, indicating a solid intellectual property position.
TracInnovations has secured several patents related to their motion tracking technology, providing protection against competitors and enhancing the company's valuation.
- Financing
-
Aspect: Well-funded
Summary: The company has secured significant funding from reputable investors, supporting its growth and development.
With investments totaling over $11 million from firms like West Hill Capital and Investo Capital, TracInnovations is well-positioned financially to advance its product development and market penetration strategies.
- Regulatory
-
Aspect: 510k/PMA
Summary: The company has achieved FDA 510(k) clearance, facilitating market entry in the U.S.
Obtaining FDA 510(k) clearance is a significant milestone, allowing TracInnovations to market its Tracoline system in the United States, thereby expanding its potential customer base and revenue streams.
Opportunity Rollup
- Odds of Success
- 4.2
- Peak Market Share
- 6.05
- Segment CAGR
- 2.9%
- Market Segment
- Diagnostic Imaging
- Market Sub Segment
- MRI Motion Correction
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.30 |
| 2 | 0.91 |
| 3 | 2.12 |
| 4 | 4.24 |
| 5 | 6.05 |
Key Takeaway
TracInnovations is well-positioned in the MRI motion correction market, offering innovative solutions that address critical clinical needs, supported by a strong team and solid financial backing.