Conventus Orthopaedics Funding, Investors & Competitors

Illumina provides tools and services to analyze genetic material with life science and clinical lab applications. The company generates over 90% of its revenue from sequencing instruments, consumables, and services. Illumina’s high-throughput technology enables whole genome sequencing in humans and other large organisms. Its lower throughput tools enable applications that require smaller data outputs, such as viral and cancer tumor screening. Illumina also sells microarrays (9% of 2024 sales) that enable lower-cost, focused genetic screening with primarily consumer and agricultural applications.

GE HealthCare Technologies is a leading medical technology firm with leading market share in imaging and ultrasound equipment. The company reports four major segments: imaging (45% of revenue), advanced visualization solutions (26%), patient care solutions (15%), and pharmaceutical diagnostics (14%). The company’s sales are geographically diverse, with the United States, EMEA, China, and the rest of the world accounting for 46%, 26%, 11%, and 17% respectively. We estimate approximately half of its revenue is recurring, which consists of servicing (about one third of revenue), pharmaceutical diagnostics (about 10%-15%), and digital solutions (just over 5%).

Domiciled in the US, Penumbra designs, manufactures, and markets an array of thrombectomy and embolization devices and equipment to mechanically remove blood clots. The firm sells mainly to hospitals and physicians. These minimally invasive devices are primarily used in the acute care setting for patients with stroke, pulmonary embolism, deep vein thrombosis, cranial aneurysms, and other vascular diseases.

Shanghai United Imaging Healthcare Co Ltd provides customers with high-performance medical imaging equipment, radiotherapy products, life science instruments, and medical digitalization and intelligent solutions. The company’s products include MRI systems, CT scanners, X-ray imaging equipment, molecular imaging systems, radiotherapy linear accelerators, and life science instruments.

Baxter offers a variety of medical supplies and equipment to providers. From its legacy operations, Baxter sells injectable therapies for use in care settings, including IV pumps, administrative sets, and solutions; nutritional products; and surgical sealants and hemostatic agents. Baxter expanded its portfolio of hospital-focused offerings by acquiring Hillrom in late 2021, which added basic equipment like hospital beds, operating room equipment, and patient monitoring tools to the portfolio. Baxter also sold its kidney care tools in early 2025.

Glaukos Corp is an ophthalmic pharmaceutical and medical technology company focused on developing novel, dropless therapies and commercializing associated products for the treatment of glaucoma, corneal disorders, and retinal diseases. It has commenced commercialization activities for iDose TR, a first-of-its-kind, long-duration, intracameral procedural pharmaceutical implant designed to continuously deliver glaucoma drug therapy inside the eye for extended periods of time. The company also offer commercially a proprietary bio-activated pharmaceutical therapy for the treatment of a rare corneal disorder, keratoconus. The company has three primary commercialized micro-scale surgical device products designed to treat glaucoma: the iStent, the iStent inject W, and the iStent infinite.

MindMaze is a Lausanne-headquartered digital neurotherapeutics company founded in 2012 with offices in Zürich, Ecublens, Switzerland, and San Francisco. It develops medical-grade virtual reality platforms like MindMotionPRO for neurological rehabilitation, offering personalized VR exercises that enhance motor recovery for stroke and brain injury patients. The technology incorporates 3D motion capture, gesture recognition, augmented reality, brain imaging, and neuroscience for intuitive human-machine interfaces. MindMaze's solutions optimize clinician workflows, support therapy dosing, and extend to gaming and brain-computer control applications.

RefleXion Medical is a developer of biology-guided radiotherapy systems for cancer treatment. Hayward-headquartered in California, RefleXion's X1 machine delivers stereotactic body radiotherapy, stereotactic radiosurgery, and intensity-modulated radiotherapy. The BgRT platform uses real-time PET imaging to target metastatic tumors with subsecond precision. RefleXion raised over $380 million in funding from investors including Sofinnova and Temasek.

SiBionics is a Chinese medical device company developing AI-based devices for chronic disease management, including its GS1 and GS3 continuous glucose monitoring (CGM) systems for people with diabetes. Its GS3 sensor is described as the world's thinnest CGM and has earned CE Mark approval alongside other products in its lineup, placing the company in the competitive global CGM market alongside established international players.

Embark is a Boston-based canine genetics company offering DNA testing kits. The platform analyzes over 200,000 genetic markers using CLIA-certified SNP chips to screen for breed, health risks, traits, and preventive care recommendations, contributing to veterinary research on nutrition and diseases.

TOPI Imaging Technology is a Taiwan-based medical device manufacturer producing optical coherence tomography systems for retinal diagnostics and swept-source optical biometers for intraocular lens calculations. The company's OCT devices image macular degeneration and glaucoma while biometers measure axial length pre-surgery. TOPI supplies systems to ophthalmology clinics in Asia and exports to Europe under ISO 13485 certification.

Johnson & Johnson is the world's largest and most diverse healthcare firm. It has two divisions: innovative medicine and medtech. These now represent all of the company's sales following the divestment of the consumer business, Kenvue, in 2023. After restructurings in 2023-24, the drug division focuses on three main therapeutic areas: immunology, oncology, and neurology. Geographically, just over half of total revenue is generated in the United States.

Roche is a Swiss biopharmaceutical and diagnostic company. The firm's bestselling pharmaceutical products include a variety of oncology therapies from acquired partner Genentech, and its diagnostics group was bolstered by the acquisition of Ventana in 2008. Oncology products account for 50% of pharmaceutical sales, and centralized and point-of-care diagnostics for more than half of diagnostic-related sales.

Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents. The firm operates through four segments as of year-end 2024 (revenue figures include some cross-segment revenue): analytical technologies (17% of sales); specialty diagnostic products (11%); life science solutions (23%); and lab products and services, which includes CRO services (the remainder).

In 1984, Danaher's founders transformed a real estate organization into an industrial-focused manufacturing company. Then, through a series of mergers, acquisitions, and divestitures, Danaher now focuses primarily on manufacturing scientific instruments and consumables in the life sciences and diagnostic industries after the late 2023 divestiture of its environmental and applied solutions group, Veralto.