Sensus Healthcare is a medical device company that makes and sells superficial radiation therapy (SRT) systems for treating non-melanoma skin cancer (basal cell and squamous cell carcinomas) and keloid scars. SRT uses low-energy X-rays to deliver a non-surgical alternative to Mohs surgery, with no anesthesia, no skin grafting, and minimal scarring. Sensus sells to dermatology practices and radiation oncologists, primarily through a direct U.S. sales force and international distributors, with roughly 955 units installed across 21 countries. Sensus offers three SRT system variants — the SRT-100, SRT-100+, and the premium SRT-100 Vision, which adds integrated ultrasound imaging for image-guided treatment. Sensus generates revenue through outright capital equipment sales and through its Fair Deal Agreement (FDA) program, a revenue-share model launched in 2024 where Sensus places the system and provides staffing in exchange for a percentage of reimbursement collected — a model that appeals to PE-backed dermatology groups. Service contracts (parts, labor, and maintenance) contribute a smaller, stable portion of revenue. A key demand driver is physician reimbursement: new CMS CPT codes effective January 2026 raised SRT delivery reimbursement by over 300%, which Sensus views as a major catalyst for adoption. Growth initiatives include expanding the FDA program, launching an in-house financing program, rolling out Sensus Link (a cloud-based workflow software), and growing international revenue — particularly in Asia and Brazil.