IRadimed is a niche medical device company that designs and sells MRI-compatible patient care equipment — devices engineered to operate safely inside MRI scanner rooms, where standard medical equipment poses serious safety risks due to magnetic interference. IRadimed's two core products are its MRidium IV infusion pump line and its 3880 vital signs monitor. The MRidium pumps use a non-magnetic ultrasonic motor to safely deliver IV fluids and medications to patients during MRI scans, and IRadimed is effectively the only manufacturer of a true MRI-compatible IV infusion pump — the closest alternatives are widely considered inferior workarounds. The 3880 monitor tracks ECG, SpO2, blood pressure, CO2, and other vitals continuously during MRI procedures, competing in a more developed market against Philips (Invivo Research), GE Healthcare, and others. IRadimed sells primarily to hospitals in the U.S. through a direct sales force, and internationally through distributors across roughly 80 countries; the U.S. accounts for about 84% of revenue. The business model combines one-time device sales with recurring revenue from proprietary single-use IV tubing sets (required for every pump procedure) and service contracts. Gross margins run around 77%, reflecting the niche product focus and lack of direct pump competition. The near-term growth story centers on a multi-year replacement cycle for the new MRidium 3870 pump, launched in 2025, which management expects to roughly double annual domestic pump unit volumes and push total revenue past $100M.