Interrad Medical, Inc.
- Industry
- Medical Devices
- Founded Year
- 2004
- Headquarters
- Plymouth, Minnesota, USA
- Employee Count
- 36
Key People
- Joe Goldberger - President and CEO
-
Jeff Killion - Contact Person
Email: jeff@interradmedical.com
Assessment
- Team
-
Aspect: First-time 10+ yrs
Summary: Leadership with over a decade of experience in the medical device industry.
The leadership team, including President and CEO Joe Goldberger, brings over ten years of experience in the medical device sector, contributing to informed strategic decisions and effective company management.
- Clinical Need
-
Aspect: Very Strong
Summary: SecurAcath addresses critical issues in catheter securement, reducing complications and costs.
SecurAcath effectively reduces catheter dislodgement and related complications, addressing a significant clinical need and leading to cost savings in patient care.
- Competition
-
Aspect: Somewhat crowded
Summary: The catheter securement market has multiple players, but SecurAcath offers unique benefits.
While the market includes several competitors, SecurAcath's subcutaneous securement method provides distinct advantages, though continuous innovation is necessary to maintain a competitive edge.
- Technical Challenge
-
Aspect: Predictable
Summary: The technology is well-established with manageable development challenges.
SecurAcath's design and functionality are based on established medical device technologies, leading to predictable development processes and lower technical risks.
- Patent
-
Aspect: Strong
Summary: SecurAcath is protected by strong patents, providing a competitive advantage.
The device's unique subcutaneous securement method is safeguarded by robust patents, offering protection against competitors and supporting market exclusivity.
- Financing
-
Aspect: Medium
Summary: Interrad Medical has secured moderate funding through various financing rounds.
The company has raised funds through multiple rounds, including Series C and D, and debt financing, indicating a stable financial foundation but potential need for further investment to support growth.
- Regulatory
-
Aspect: 510k/PMA
Summary: SecurAcath has obtained necessary regulatory approvals for market entry.
The device has received FDA 510(k) clearance and CE marking, allowing it to be marketed in the U.S. and Europe, which is crucial for commercial success.
Opportunity Rollup
- Odds of Success
- 3.95
- Peak Market Share
- 5.3
- Segment CAGR
- 5.4%
- Market Segment
- Catheter Securement Devices
- Market Sub Segment
- Subcutaneous Securement Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.27 |
| 2 | 0.80 |
| 3 | 1.86 |
| 4 | 3.71 |
| 5 | 5.30 |
Key Takeaway
Interrad Medical's SecurAcath addresses a significant clinical need with strong patent protection and regulatory approvals, positioning it well in a competitive market.