VTAK | Market Cap: $2.3M (07/13/26)
Industry:
Healthcare Equipment, Supplies, & Technology

DESCRIPTION

Catheter Precision is a small medical device company focused on cardiac electrophysiology (EP). Its two core products are the VIVO System and LockeT. VIVO is a non-invasive 3D cardiac mapping system that helps electrophysiologists identify the origin of ventricular arrhythmias before performing a catheter ablation procedure — using CT/MRI scans, a 12-lead ECG, and a 3D camera image of the patient's torso to generate a pre-procedural map of the heart. LockeT is a disposable suture retention device used after EP procedures to close femoral vein access sites. Catheter Precision sells directly to hospital EP labs in the U.S. through a small direct sales force and internationally through distributors. The business model combines capital equipment placements (VIVO systems) with recurring consumable revenue from disposable VIVO Positioning Patches and per-procedure LockeT sales. Customer concentration is high, with three customers accounting for roughly 50% of revenue. Beyond its core EP business, Catheter Precision has adopted a holding company structure with subsidiaries including FLYTE, a private aviation charter business added to attract capital to fund medical device operating losses, Cardionomix, focused on a cardiac nerve stimulation technology for heart failure, and KardioNav, developing an enhanced pre-ablation mapping system. The company is unprofitable and relies partly on FLYTE to fund its core operations while pursuing VIVO label expansion and broader LockeT adoption.

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