Realize Medical Inc

Realize Medical Inc specializes in advanced mixed reality surgical planning solutions, utilizing their Elucis platform to enhance healthcare professionals' precision in surgical procedures. Founded in 2018, Realize Medical Inc is based in Ottawa, Canada. The company focuses on developing mixed reality solutions for surgical planning and collaboration. The founding team includes Justin Sutherland, who has a background in healthcare technology.

In May 2021, Realize Medical secured USD 1 mn in Seed funding from investors including Maple Leaf Angels and York Angels, bringing their total funding to USD 1 mn. Realize Medical’s core product is the Elucis platform, an advanced mixed reality tool designed for 3D image processing and modeling tailored for surgical planning. It enables healthcare professionals to manipulate extensive datasets from CT and MR images, supporting both 3D and 4D imaging for segmentation, measurement, and immersive surgical planning. Elucis serves healthcare professionals, surgeons, and medical institutions aiming to improve surgical outcomes, with its market availability dependent on regulatory approvals.

Realize Medical's revenue model is based on subscriptions for the Elucis platform, with different pricing tiers reflecting varying features. Transactions are conducted through direct sales to healthcare facilities, establishing a B2B relationship where institutions subscribe for surgical planning software. Additionally, the company may partner with medical organizations to broaden its service offerings. Elucis Next, a non-clinical version of the platform, could also generate revenue through licensing agreements, creating a structured and ongoing revenue stream.

In May 2021, Realize Medical raised USD 1 mn in Seed funding, which will be allocated to expanding their sales and marketing team and hiring additional software developers and engineers. The company aims to enhance its product offerings and plans to enter new geographic markets and regions to broaden its customer base, leveraging the funds to support these growth initiatives.