IRadimed Corp.

Company Overview

IRadimed Corporation develops, manufactures, markets, and distributes Magnetic Resonance Imaging (MRI) compatible medical devices and related accessories, disposables, and services. IRADIMED is the only provider of a non-magnetic intravenous (IV) infusion pump system designed for safe use during MRI procedures.

The company pioneered the development of an infusion delivery system that addresses the dangers and challenges associated with MRI procedures, which are typically exacerbated by standard infusion pumps containing magnetic and electronic components. These components can cause radio frequency interference and pose risks in the presence of MRI systems’ powerful magnetic fields.

Each IV infusion pump system includes the MRidium MRI-compatible IV infusion pump, a non-magnetic mobile stand, proprietary disposable IV tubing sets, and optional upgrade accessories. As of December 31, 2023, IRADIMED has sold approximately 7,196 MRI-compatible IV infusion pump systems and 2,166 of its 3880 MRI-compatible patient vital signs monitoring systems. The potential market is estimated at around 27,350 MRI-compatible IV infusion pump systems, based on the global installation base of MRI scanners in acute care facilities with favorable conditions for utilizing such systems.

Financial Highlights (FY 2024)

Company's Business Segments

• Devices : MRI Compatible IV Infusion Pump Systems, MRI Compatible Patient Vital Signs Monitoring Systems, Ferro Magnetic Detection Systems
• Disposables, Services and Other : This segment includes the Services provided for Devices Sold.
• Amortization of Extended Warranty Agreements : This segment includes the Warranty Services provided for Devices Sold.