SOLVD Health
- Industry
- Medical Equipment Manufacturing
- Founded Year
- 2014
- Headquarters
- Carlsbad, California
- Employee Count
- 38
Key People
- Keri Donaldson, MD, MSCE - Chief Executive Officer
- Kevin Baker - Principal Advisor, Strategic Development
- Brian Eichenberger - Chief Information Officer
- Mark Hazeltine - Chief Financial Officer
- Ron McCullough, PhD, MBA - Senior Vice President of Clinical Operations
Assessment
- Team
-
Aspect: First-time 10+ yrs
Summary: The leadership team comprises experienced professionals with backgrounds in medical and life sciences, including genomics, diagnostics, and pathology.
The leadership team's extensive experience in relevant fields enhances the company's capability to develop and implement effective health solutions.
- Clinical Need
-
Aspect: Very Strong
Summary: SOLVD Health addresses critical healthcare challenges, such as opioid use disorder and colorectal cancer, with innovative diagnostic solutions.
By targeting prevalent and severe health conditions, SOLVD Health meets a substantial clinical need, potentially improving public health significantly.
- Competition
-
Aspect: First mover
Summary: SOLVD Health's AvertD is the first FDA-authorized genetic test for assessing opioid use disorder risk, indicating a pioneering position in the market.
Introducing the first FDA-authorized test in this category allows SOLVD Health to lead the market and build strong brand recognition.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing genetic tests like AvertD involves complex processes, but SOLVD Health has demonstrated capability in this area.
The development of genetic diagnostics requires advanced technology and expertise, which SOLVD Health possesses, reducing the impact of technical challenges.
- Patent
-
Aspect: Strong
Summary: SOLVD Health holds multiple patents related to methods and systems for evaluating the risk of substance use disorders.
Holding patents ensures proprietary rights over key technologies, providing a competitive edge and potential revenue through licensing.
- Financing
-
Aspect: Medium
Summary: The company has secured funding, including private equity backing, but specific details are limited.
Adequate financing is crucial for growth; securing further investment could enhance the company's ability to achieve its strategic goals.
- Regulatory
-
Aspect: 510k/PMA
Summary: AvertD has received FDA authorization, indicating successful navigation of regulatory pathways.
Regulatory approval is essential for product commercialization; SOLVD Health's success in this area supports its market strategy.
Opportunity Rollup
- Odds of Success
- 3.95
- Peak Market Share
- 5.45
- Segment CAGR
- 1.9%
- Market Segment
- In Vitro Diagnostics
- Market Sub Segment
- Genetic Testing
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.27 |
| 2 | 0.82 |
| 3 | 1.91 |
| 4 | 3.82 |
| 5 | 5.45 |
Key Takeaway
SOLVD Health's innovative approach to preventive diagnostics positions it well in a growing market, though challenges in financing and competition remain.