Let's start with my estimate of 12,000,000 echocardiograms performed annually across the USA, Europe, and the Middle East, with 7.1 million conducted in the USA alone.
Next, let's move on to my growth projections over the next 3–5 years and the strategy the company has proposed for integrating with hospitals.
I recommend watching the Incoming CEO Webinar (6 Nov 2024):
https://www.youtube.com/watch?v=xEoS36IQqaU&t=734s
Whether this unfolds over the next 3–5 years or takes 6–10 years, I’m content either way.
While several AI providers operate in this space, to the best of my knowledge, Us2.Ai, iCardio, and Ultromics are the primary competitors. Other players focus on ECG (Electrocardiography) and CT (Computed Tomography) imaging solutions, which detect entirely different conditions compared to Echo IQ.
There will be multiple winners in this space, and those who succeed will be laser-focused and mission-driven.
Let’s also acknowledge that most startups—if not all—are speculative in the beginning, and Pro Medicus was no exception. The company is currently growing its U.S. market share at 0.5% per annum, with momentum picking up. Founded in 1983, Pro Medicus entered the U.S. market in 2009, yet in 26 years, it has never appointed a seasoned, U.S.-based med-tech CEO.
Regarding market penetration figures, the company itself has not provided any inflated numbers. The CEO has referenced a goal of impacting 1–2 million lives over the next five years. Any further speculation has come from optimistic investors on this platform, not from the company.
Now, do you have anything substantive to contribute that disproves what I’ve shared, or are you just a bitter ex-employee who couldn’t hold onto his job, or a shareholder who couldn’t hold onto his shares?
The great thing about the stock market and investing is that you don’t have to invest, you can sit on the sidelines and comment as much as you like. However, if you choose to do so here, be prepared and well-informed, because you will be tested, and any ignorance or negativity will quickly be exposed.
(20min delay)