SeeMedX
- Industry
- Medical Equipment Manufacturing
- Founded Year
- 2020
- Headquarters
- 6280 S Valley View Blvd, Suite 632, Las Vegas, NV 89118, United States
- Employee Count
- 17
Key People
-
Deborah Simpson - Co-Founder, Chief Executive Officer and Chairwoman of the Board
Email: Deborah@seemedx.com
- Marc Grofa - Chief Medical & Technology Officer
- Kevin Ferguson - Chief Product Officer
- Rafael Campiz - Vice President of Business Development
- Peter Ganz - Advisory Board Member
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: Led by CEO Deborah Simpson, who has achieved 4 IPOs and 11 exits.
Deborah Simpson's track record of multiple IPOs and exits demonstrates a strong capability to lead and grow MedTech companies successfully.
- Clinical Need
-
Aspect: Very Strong
Summary: Non-invasive detection of heart failure up to 72 hours in advance addresses a critical healthcare need.
Early detection of heart failure can lead to timely interventions, reducing mortality rates and healthcare costs, thereby fulfilling a substantial clinical need.
- Competition
-
Aspect: Somewhat crowded
Summary: The market for cardiac monitoring devices has several established players.
The presence of multiple companies in the cardiac monitoring space means SeeMedX must differentiate its product to capture market share.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing accurate non-invasive monitoring technology presents moderate technical challenges.
The development of non-invasive monitoring devices requires balancing sensitivity and specificity, which presents moderate technical hurdles.
- Patent
-
Aspect: Strong
Summary: SeeMedX holds multiple patents in the medical device field.
Holding patents in relevant technologies can protect the company's innovations and provide leverage against competitors.
- Financing
-
Aspect: Medium
Summary: In the process of raising $15 million in a seed funding round as of August 2023.
While the seed funding round is promising, additional financing may be required to scale operations and achieve market penetration.
- Regulatory
-
Aspect: 510k/PMA
Summary: Filed 510(k) with FDA for cardiac monitoring system in November 2024.
Obtaining FDA clearance is essential for commercialization; the pending status indicates progress but also potential delays.
Opportunity Rollup
- Odds of Success
- 3.75
- Peak Market Share
- 5.1
- Segment CAGR
- 4.4%
- Market Segment
- Cardiac Monitoring Devices
- Market Sub Segment
- Non-Invasive Cardiac Monitors
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.26 |
| 2 | 0.76 |
| 3 | 1.78 |
| 4 | 3.57 |
| 5 | 5.10 |
Key Takeaway
SeeMedX's innovative non-invasive cardiac monitoring technology addresses a significant clinical need, but faces challenges in a competitive market and regulatory approval processes.