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Acutus Medical, Inc. (Nasdaq: AFIB) is a pioneering company in the field of arrhythmia management, focused on improving the way cardiac arrhythmias are diagnosed and treated. Based in Carlsbad, California, and founded in 2011, Acutus is dedicated to advancing electrophysiology with innovative products and technologies that enable more efficient and effective treatments for complex arrhythmias.
Acutus Medical has attracted some of the most respected experts in electrophysiology and cardiac device manufacturing, creating a strong network of global collaborative partners. Their mission is to provide electrophysiologists with the highest quality suite of tools and exceptional clinical support to better understand and treat complex arrhythmias. This mission is driven by the need for advanced technology in the high-growth electrophysiology market, addressing unmet needs for evidence-based approaches to treating atrial fibrillation, ventricular tachycardia, and other complex arrhythmias.
The company's product portfolio includes the AcQMap® Mapping System, the AcQMap 3D Mapping Catheter, the AcQBlate® Force-Sensing Ablation Catheter, and the AcGuide™ Max 2.0 Steerable Sheath. These products are designed to provide a complete solution for catheter-based treatment of cardiac arrhythmias.
Recently, Acutus announced a strategic realignment to focus exclusively on the production and distribution of left-heart access products for Medtronic, Inc. This shift aims to optimize financial performance and maximize cash flow. As part of this restructuring, Acutus will wind down its electrophysiology mapping and ablation business, significantly reducing its workforce and operational expenses.
Financially, Acutus reported significant growth in revenue from its continuing operations, driven by its partnership with Medtronic. For example, first quarter 2024 revenue was $3.6 million, a 192% increase compared to the same period in 2023. The company has also seen improvements in gross margins and reductions in operating expenses, highlighting the benefits of its strategic focus.
Despite challenges, including the need to manage expenses and cash burn rates, Acutus remains committed to its mission and continues to innovate and support the medical community with advanced solutions for cardiac arrhythmia management.
Acutus Medical has appointed Duane Wilder as Chief Commercial Officer to drive its commercialization and market expansion efforts. With over 25 years of experience in medical technology, Wilder previously led US Sales for Philips’ Image Guided Therapy division. His track record in launching innovative products positions him to enhance Acutus' market efforts in the electrophysiology sector. CEO Vince Burgess emphasized Wilder's expertise as vital for challenging competitors and focusing on patient solutions in the fast-growing arrhythmia management market.
Acutus Medical (Nasdaq: AFIB) has announced the appointment of David Roman as the new Chief Financial Officer, effective March 1, 2021. Roman brings over 15 years of experience from positions at Baxter International and Goldman Sachs. Daniella Cramp has also joined the board of directors, effective February 3, 2021, bringing extensive experience from Thermo Fisher Scientific and Johnson & Johnson. These appointments aim to strengthen Acutus’s leadership and drive its strategic vision in electrophysiology.
On February 4, 2021, Acutus Medical, Inc. (Nasdaq: AFIB) announced its participation in the BTIG Virtual MedTech, Digital Health, Life Science and Diagnostic Tools Conference. The management team will present on February 18, 2021, at 2:00 p.m. Eastern Time. Acutus focuses on diagnosing and treating cardiac arrhythmias, offering a unique range of electrophysiology products. Their commitment to innovating the field aims to enable more physicians to effectively manage patient care. Founded in 2011, Acutus is based in Carlsbad, California.
Acutus Medical (Nasdaq: AFIB) presented advances in atrial fibrillation treatment at the 26th Annual International AF Symposium. Key demonstrations included the AcQMap 3D Imaging and Mapping System and the AcQBlate FORCE Sensing Ablation System. The presentation by Prof. Tim Betts highlighted the efficacy of these technologies in persistent atrial fibrillation procedures. Acutus aims to address the increasing demand for effective ablation therapies. The symposium runs from January 29-31, featuring prominent experts discussing the latest in electrophysiology.
Acutus Medical (Nasdaq: AFIB) reported strong preliminary unaudited revenue results for Q4 2020, estimating between $2.4 million to $2.6 million, marking a 259% to 289% year-over-year increase. Full-year revenue for 2020 is anticipated to be between $8.3 million to $8.5 million, reflecting a 193% to 200% growth compared to 2019. The company installed 51 new AcQMap consoles, totaling 58 installations. Despite COVID-19 challenges, mapping procedural growth exceeded 35% quarter-over-quarter. The company aims to leverage its product advancements and partnerships to drive future growth.
Acutus Medical (Nasdaq: AFIB), based in Carlsbad, California, specializes in arrhythmia management, focusing on improving the diagnosis and treatment of cardiac arrhythmias. On January 13, 2021, at 10:00 a.m. Eastern Time, its management will present at the J.P. Morgan 39th Annual Healthcare Conference. Interested parties can access a live audio-only webcast via Acutus’ website, with a replay available for 30 days post-presentation.
The company is dedicated to advancing electrophysiology, offering a comprehensive range of catheter-based solutions.
Acutus Medical (Nasdaq: AFIB) announced the launch of its AcQCross Transseptal System in Europe following the CE Mark approval, enhancing access to the left atrium for cardiac procedures. This system reduces the need for multiple exchanges during procedures like atrial fibrillation ablation, improving efficiency and safety. It is compatible with existing Valleylab generators, further lowering costs for healthcare facilities. The product demonstrates strong demo-to-conversion rates and shows promise in global sales growth despite ongoing challenges from Covid.
Acutus Medical has received CE Mark approval for its AcQBlate® Force Sensing Ablation System, which includes the first commercially available gold-tipped, irrigated, force-sensing catheter. This innovative system enhances real-time contact force measurements during cardiac ablation procedures, potentially improving patient outcomes. The AcQBlate FORCE system integrates the Qubic RF generator and Qiona irrigation pump, offering a comprehensive electrophysiology solution. Acutus aims to advance cardiac arrhythmia treatment with this cutting-edge technology across Europe.
Acutus Medical (Nasdaq: AFIB) announced the appointment of Dr. Steven Mickelsen as Chief Translational Science Officer on November 12, 2020. Dr. Mickelsen will oversee the company's vision to enhance electrophysiology solutions, focusing on advancing catheter technology for Pulsed Field Ablation (PFA) and Radiofrequency (RF) ablation. He brings extensive experience as a cardiac electrophysiologist and previously founded Farapulse. Acutus aims to innovate in cardiac arrhythmia management, establishing new standards of care in the industry.
Acutus Medical reported a strong third quarter for 2020, achieving revenue of $3.2 million, marking a 180% increase sequentially and a 391% rise year-over-year. The installed base of second-generation AcQMap consoles rose to 49 units. Despite a net loss of $31.3 million and negative gross margin of 62%, the company is optimistic about future growth and has a cash position of $167 million. Management refrained from providing financial guidance due to COVID-19 uncertainties but lauded commercial achievements during challenging times.
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