Preventice Solutions
- Industry
- Healthcare Services
- Founded Year
- 2007
- Headquarters
- Eagan, Minnesota
- Employee Count
- 421
Key People
- Jonathan Otterstatter - CEO
- Scott Burrichter - Co-Founder
- Greg Wobig - Co-Founder
- Dan Spors - Co-Founder
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The founding team comprises experienced entrepreneurs with a background in medical technology.
The founders' prior successes in the MedTech industry suggest a strong capability to navigate market challenges and drive innovation.
- Clinical Need
-
Aspect: Very Strong
Summary: The demand for remote cardiac monitoring solutions is high and growing.
With cardiovascular diseases being a leading cause of mortality, the need for effective monitoring solutions is paramount. Preventice's offerings cater to this significant clinical demand.
- Competition
-
Aspect: Very crowded + Strategics
Summary: The market features numerous competitors, including major strategic players.
The presence of established companies like Medtronic and Abbott in the cardiac monitoring space intensifies competition, potentially impacting Preventice's market share.
- Technical Challenge
-
Aspect: Predictable
Summary: The technology involved is well-understood with manageable development risks.
Developing wearable cardiac monitors involves established technologies, reducing unforeseen technical hurdles and facilitating smoother product development.
- Patent
-
Aspect: Strong
Summary: The company holds a robust patent portfolio protecting its innovations.
A solid patent portfolio safeguards the company's technologies from competitors, ensuring sustained innovation and market exclusivity.
- Financing
-
Aspect: Strategics
Summary: The company has secured substantial funding from strategic investors.
While strategic investments provide significant capital, they may also lead to reduced operational independence and potential conflicts of interest.
- Regulatory
-
Aspect: 510k/PMA + Reimbursement
Summary: The company's products have obtained necessary regulatory approvals and reimbursement pathways.
Having secured FDA clearances and reimbursement codes, the company is well-positioned to commercialize its products effectively.
Opportunity Rollup
- Odds of Success
- 3.8
- Peak Market Share
- 4
- Segment CAGR
- 9.1%
- Market Segment
- Cardiac Monitoring Devices
- Market Sub Segment
- Wearable Cardiac Monitors
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.20 |
| 2 | 0.60 |
| 3 | 1.40 |
| 4 | 2.80 |
| 5 | 4.00 |
Key Takeaway
Preventice Solutions, with its strong leadership and innovative products, is well-positioned in the growing cardiac monitoring market, despite facing significant competition.