Minerva Surgical, Inc.
- Industry
- Medical Devices
- Founded Year
- 2008
- Headquarters
- 4255 Burton Drive, Santa Clara, CA 95054, United States
- Employee Count
- 174
Key People
- Todd Usen - Chief Executive Officer and President
- Darrin Hammers - Chief Executive Officer
- Greg Simbro - Vice President of Finance
- Erik Reese - Vice President of Sales
- Wendy Bowman - Vice President of Human Resources
- Dr. Evgueni V. Skalnyi M.D. - Chief Medical Officer
- Joanne Long - Vice President of Corporate Controller
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with backgrounds in medical technology and business management.
The presence of seasoned executives with prior successes in the MedTech industry enhances the company's ability to navigate market challenges and drive innovation.
- Clinical Need
-
Aspect: Very Strong
Summary: The company's focus on minimally invasive solutions addresses a significant unmet need in women's uterine healthcare.
Abnormal uterine bleeding affects a substantial portion of the female population, and minimally invasive treatments offer preferable alternatives to traditional surgical methods, indicating a strong market demand.
- Competition
-
Aspect: Very crowded + Strategics
Summary: The market for endometrial ablation devices is highly competitive, with established players like Hologic and CooperSurgical.
Dominant competitors with extensive resources and market share can limit the growth opportunities for newer entrants, making it difficult to capture significant market segments.
- Technical Challenge
-
Aspect: Predictable
Summary: The development of minimally invasive devices for uterine healthcare involves moderate technical challenges.
Developing devices that are both effective and safe requires rigorous testing and compliance with regulatory standards, which can be resource-intensive.
- Patent
-
Aspect: Strong
Summary: The company holds patents for its devices, providing a competitive edge.
Holding patents for proprietary technology ensures exclusivity in the market, allowing the company to capitalize on its innovations without immediate threat from imitators.
- Financing
-
Aspect: Well-funded
Summary: The company has secured significant funding, including a $30 million private placement in 2023.
Substantial financial backing enables the company to invest in research, development, and marketing efforts necessary for growth and competitiveness.
- Regulatory
-
Aspect: 510k/PMA
Summary: The company's products have received necessary regulatory clearances for market entry.
Obtaining FDA clearances such as 510(k) or PMA indicates compliance with safety and efficacy standards, essential for gaining trust among healthcare providers and patients.
Opportunity Rollup
- Odds of Success
- 3.9
- Peak Market Share
- 5.45
- Segment CAGR
- 7.3%
- Market Segment
- Medical Devices
- Market Sub Segment
- Endometrial Ablation Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.27 |
| 2 | 0.82 |
| 3 | 1.91 |
| 4 | 3.82 |
| 5 | 5.45 |
Key Takeaway
Minerva Surgical operates in a competitive market with strong growth potential, leveraging experienced leadership and innovative products to address significant clinical needs in women's health.