Financial Strength and Funding
CardioMEMS has established a strong financial footing. With over $209 million raised in funding and annual revenue of $10.6 million, it is a prominent player in the cardiac monitoring market. Its 14 investors, including St. Jude Medical and Vision Capital Advisors, provide stable support.
In 2014, St. Jude Medical acquired CardioMEMS for $375 million, recognizing the value of its innovative technology. This transaction solidified CardioMEMS’s position and enhanced St. Jude’s cardiac monitoring portfolio.
Market Value and Revenue
CardioMEMS is positioned for growth. With a solid market share and analysts projecting increased revenue, the company has a bright future. Its annual revenue of $10.6 million and revenue per employee of $212,600 reflect its financial health and employee productivity.
Cost of CardioMEMS
The cost of CardioMEMS technology is comparable to its potential benefits. Hospitals pay approximately $20,000 for the device, while the average selling price reaches $24,950. However, studies indicate that it is a cost-effective treatment. It ranges from $58,000 to $82,301 per quality-adjusted life year (QALY) gained.
Innovation and Growth Potential
CardioMEMS’s wireless sensing implants provide unique cardiovascular monitoring capabilities. This technology aligns with the growing demand for remote patient monitoring. Additionally, integrating CardioMEMS with artificial intelligence holds promise for enhanced predictive capabilities and improved patient outcomes.
Key Insights
- Funding: $209 million raised, including support from leading investors.
- Acquisition: Acquired by St. Jude Medical in 2014 for $375 million.
- Revenue: $10.6 million annually, with increasing revenue estimates.
- Technology: Wireless sensing implants for real-time cardiovascular monitoring.
- Cost-effectiveness: Provides value for managing heart failure, with studies supporting its cost-effectiveness.
- Growth Potential: Alignment with remote patient monitoring trends and potential integration with AI.