WHY: Leads Irvine-based developer of the FFRangio System, which provides imaging of the coronary artery branch and applies machine learning to help doctors identify coronary issues in a noninvasive manner. A 2022 Business Journal Excellence in Entrepreneurship Awards honoree.
BY THE NUMBERS: Received largest funding deal to date last year with a $75 million investment from Medtronic, one of the world’s largest medical device makers. The agreement provides Medtronic option to buy CathWorks in next five years at a $585 million valuation. Raised a $30 million Series D round in 2021.
FUTURE PLANS: The company is still in the early stages of rolling out the FFRangio System, with the latest iteration winning approvals in October by the Japanese Pharmaceuticals and Medical Devices Agency. Medtronic has begun co-promotion of the system in the U.S., Europe and Japan, where it is commercially available.
IN THEIR WORDS: “As we launch this fourth-generation FFRangio System, it’s become clear that the product is ready for globalization.”