Circle Cardiovascular Imaging Inc.

Circle Cardiovascular Imaging Inc. is a Canadian company specializing in advanced medical imaging solutions focused on cardiovascular and neurovascular applications, utilizing artificial intelligence to enhance diagnosis accuracy. Founded in 2007 and headquartered in Calgary, Canada, Circle Cardiovascular Imaging Inc. develops advanced imaging solutions.

The company has undergone significant changes, including its acquisition by Thoma Bravo in March 2022 for USD 213 mn. The firm has completed a total of 4 deals, and its CEO is Greg Ogrodnick. Circle Cardiovascular Imaging specializes in advanced medical imaging solutions, primarily focused on cardiovascular and neurovascular applications. Their flagship product, the cvi42 platform, leverages artificial intelligence to provide clinically validated tools that enhance diagnosis accuracy while integrating seamlessly into existing clinical workflows.

Additionally, StrokeSENS™ is an AI-driven tool that assists front-line physicians in the early identification and management of acute strokes. Circle's products are utilized in over 90 countries and are trusted by 70% of the top hospitals globally, including prominent institutions such as the Mayo Clinic and Cleveland Clinic. The company emphasizes accessibility, interoperability, and efficiency, catering to healthcare providers at various stages of their imaging programs, thereby addressing the diverse needs of physicians and technicians worldwide. Circle Cardiovascular Imaging's revenue model primarily operates through B2B transactions, providing subscription-based access to their software solutions, including cvi42 and StrokeSENS™.

Their customer base comprises hospitals and medical institutions that engage in regular service contracts for ongoing software updates and technical support. The company has established partnerships with original equipment manufacturers (OEMs), which further expand their market reach and deployment options. Revenue is generated through these partnerships, alongside direct sales of their software to healthcare facilities. The pricing structure for their services is tailored to institutional clients, reflecting the comprehensive nature of their offerings and the value provided in improving patient care efficiency and diagnostic accuracy.

Circle Cardiovascular Imaging Inc. plans to leverage its recent acquisition by Thoma Bravo to support growth in the cardiac imaging industry. The company is focusing on expanding its range of products and enhancing its market presence, particularly in North America and Europe, by the end of 2023. The funding from the Secondary Buyout will be utilized to support these initiatives, aiming to strengthen its product offerings and increase its footprint in the healthcare imaging market.