Perimeter Medical Imaging

What Perimeter Medical Imaging does

Perimeter Medical Imaging AI is a commercial-stage medical technology company that develops AI-enabled optical coherence tomography (OCT) imaging systems for intraoperative tissue visualization, with its primary application in breast-conserving surgery. The company targets breast surgeons and surgical oncologists performing lumpectomy procedures, addressing the approximately 20% re-excision rate caused by positive margins that are not detectable by sight, palpation, or standard intraoperative imaging. Perimeter's portfolio comprises the FDA 510(k)-cleared S-Series OCT (for general tissue visualization at cellular resolution), the FDA Premarket Approval-approved Claire OCT System (the first AI-enabled imaging device cleared in the US for breast cancer margin assessment), and the investigational B-Series OCT with ImgAssist AI 2.0 (next-generation platform with FDA Breakthrough Device Designation).

Perimeter's core technology combines proprietary wide-field OCT, which provides 10x higher resolution than X-ray or ultrasound at 1–2mm imaging depth, with the ImgAssist AI computer-vision model trained on over 2 million breast tissue images. In the pivotal trial, Claire demonstrated 88.1% margin accuracy and achieved a statistically significant reduction in patients with residual cancer post-surgery (P=.0050). The AI development pipeline is supported by the ATLAS AI project (originally funded by a C$7.4 million CPRIT grant), INOVAIT Pilot Fund support, and a research collaboration with the University of Toronto focused on two-tier AI architecture and reduced manual labeling burden.

The business model combines one-time capital equipment sales (S-Series and Claire OCT systems) with recurring revenue from consumables, system leases, and extended service warranty (ESP) programs. Perimeter operates a direct enterprise field-sales motion targeting top-tier US hospitals and integrated delivery networks; it secured a systemwide agreement with Intermountain Health (34 hospitals, 400 clinics across six states) and has built a sales funnel of approximately 50 qualified leads for the Claire OCT+AI platform. The company is publicly traded (TSXV: PINK, OTCQX: PYNKF, FSE: 4PC), headquartered in Toronto with US operations in Dallas, and is evaluating a potential redomiciling transaction from Canada to the United States.

Name

Perimeter Medical Imaging

Legal name

Perimeter Medical Imaging AI, Inc.

Website

https://perimetermed.com

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

51–100 employees

Short description

Perimeter Medical Imaging AI is a commercial-stage medical technology company that develops AI-enabled optical coherence tomography (OCT) systems for intraoperative breast cancer margin assessment, helping breast surgeons reduce re-excision rates during lumpectomy procedures.

Ownership category

akta.pro rank

Product category

Medical Imaging Equipment

NAICS

Surgical and Medical Instrument Manufacturing (339112), Medical Equipment and Supplies Manufacturing (3391)

SIC

Surgical & Medical Instruments & Apparatus (3841), Optical Instruments & Lenses (3827)

akta.pro primary industry

Mammography & Breast Imaging Systems (HLAHABAF)

akta.pro secondary industry

Intraoperative Imaging & Guidance (C-arms, O-arm, IOUS, fluorescence) (HLAHADAH)

Keywords

• Optical coherence tomography
• Intraoperative imaging systems
• Surgical margin assessment
• Breast cancer diagnostics
• Medical device manufacturing

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Supply Chain, Marketing or Sales, Operations

Revenue model

1. S-Series OCT Recurring Revenue: Recurring revenue from sale of S-Series OCT consumables, system leases, and ESP warranty programs. Q1 2026 revenue of $385,000 entirely from recurring sources.
2. Capital Equipment Sales: One-time sales of S-Series OCT imaging systems to hospitals and surgical centers. Previously included capital equipment sales alongside recurring revenue.
3. Claire OCT+AI Commercial Placements: First two commercial placements of FDA PMA-approved Claire OCT+AI device completed at top-tier hospitals in Q1 2026. Nation-wide launch planned to establish technology as standard of care in breast-conserving surgery.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Perimeter Medical Imaging AI develops, manufactures, and commercializes FDA-approved Optical Coherence Tomography (OCT) imaging systems combined with proprietary AI for real-time intraoperative assessment of breast cancer surgical margins. Its commercial product lineup centers on the Claire OCT System (the first FDA PMA-approved AI-enabled imaging device for breast cancer margin assessment) and the S-Series OCT (FDA 510(k)-cleared for tissue visualization), sold to hospitals, surgical centers, and cancer treatment facilities to help surgeons reduce re-excision rates during breast-conserving surgery.

Product overview

Perimeter Medical Imaging AI offers a portfolio of optical coherence tomography (OCT) imaging systems for cancer surgery applications. The core product lineup consists of the FDA-cleared S-Series OCT (for general tissue visualization), the FDA PMA-approved Claire OCT System (AI-enabled device for breast cancer margin assessment), and the investigational B-Series OCT with ImgAssist AI (next-generation AI system in clinical development). All products use proprietary wide-field OCT technology providing 10x higher resolution than standard X-ray and ultrasound imaging. The Claire system represents the company's first commercial AI-enabled product, while the B-Series with ImgAssist represents the next-generation platform under development. The company is headquartered in Toronto, Canada and Dallas, Texas.

Differentiator

Problem solved

Functional benefit

Brands

• Claire: FDA-approved AI-enabled OCT system for intraoperative breast cancer margin assessment during breast-conserving surgery. The first AI-enabled imaging device cleared in the United States for this purpose, combining optical coherence tomography with AI-powered detection to help surgeons identify cancerous tissue margins in real-time.
• Perimeter S-Series OCT
• Perimeter B-Series OCT with ImgAssist AI

Products and services

• Claire OCT System FDA PMA-approved AI-enabled optical coherence tomography imaging system for intraoperative breast cancer margin assessment during breast-conserving surgery. The first AI-enabled imaging device approved in the U.S. for this purpose, combining wide-field OCT with proprietary AI to provide real-time 3D visualization and AI-assisted detection of suspicious tissue margins with 88.1% accuracy. Sold to hospitals and cancer centers.
• Perimeter S-Series OCT FDA 510(k)-cleared optical coherence tomography imaging system providing real-time, cross-sectional visualization of excised tissues at the cellular level. Delivers 10x higher resolution than standard X-ray and ultrasound at 2mm imaging depth, enabling surgeons to visualize microscopic tissue structures during surgery. Previously referred to as OTIS (Optical Tissue Imaging System).

Quantifiable outcome

• 88.1% margin accuracy demonstrated in pivotal trial
• +7 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered major and minor.

• INOVAITmajorStrategic or Co-development Partner · 9 June 2026Canadian government-backed INOVAIT selected Perimeter for up to $148,000 Pilot Fund contribution to advance next-generation AI capabilities for Claire. Project focuses on building robust AI infrastructure including tools to reduce manual labeling burden, improve AI performance across tissue types, and design two-tier AI architecture for surgical workflow. Additional $100,000 Mitacs Business Strategy Internship award supports graduate student participation through University of Toronto collaboration.
• University of TorontomajorStrategic or Co-development Partner · 9 June 2026Partnership with Dr. Ervin Sejdić, Professor in Edward S. Rogers Sr. Department of Electrical and Computer Engineering, for next-generation AI development. Mitacs Business Strategy Internship award supports graduate student participation in the collaboration.
• Brookline Capital MarketsminorChannel Partner/ Reseller/ Distributor · 8 June 2026Brookline Capital Markets, a division of Arcadia Securities, LLC, acted as co-underwriter alongside Paradigm Capital for the LIFE Offering.
• Roadmap Capital Inc.minorChannel Partner/ Reseller/ Distributor · 8 June 2026Roadmap Capital Inc. received finder's fee of 7% of proceeds (CAD 35,000) from sale of Convertible Debentures to certain investors in June 2026 private placement.
• Intermountain HealthmajorStrategic or Co-development Partner · 8 January 2026Systemwide agreement to deploy Perimeter S-Series OCT technology across Intermountain Health's 34 hospitals and 400 clinics in Utah, Idaho, Nevada, Colorado, Montana, and Wyoming, starting with LDS Hospital and American Fork Hospital. Builds on previously announced Development Support Agreement. Enables any of Intermountain's facilities to acquire Perimeter technology while generating data to advance AI algorithms.
• Baylor College of MedicinemajorStrategic or Co-development Partner · 1 July 2020Clinical trial site for B-Series OCT with ImgAssist AI pivotal trial. Part of ATLAS AI Project for AI training and testing. Dr. Alastair Thompson served as primary principal investigator for pivotal trial.
• MD Anderson Cancer CentermajorStrategic or Co-development Partner · 1 July 2020Clinical trial site and research collaborator for ATLAS AI Project and B-Series OCT pivotal trial. Dr. Nina Tamirisa contributed to peer-reviewed study on reoperation rates published in Annals of Surgical Oncology.

Scale indicators15 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Hologic: Hologic owns Faxitron, the specimen radiography system historically used for intraoperative breast specimen imaging and margin verification. It is the most established direct competitor to Perimeter's OCT-based approach; notably, Perimeter's CCO Steve Sapot previously led sales at Faxitron/Hologic.
• Lumicell: Lumicell is developing the LUM System, an intraoperative molecular imaging platform for breast cancer margin assessment during lumpectomy. It targets the same surgical decision point as Perimeter's Claire (real-time margin visualization to reduce re-excision), making it a direct competitor in AI-enabled intraoperative breast imaging.

Emerging players

• Lightpoint Medical: Lightpoint Medical develops intraoperative molecular imaging (LightPath) for cancer surgery, including breast cancer margin assessment. Like Perimeter, it focuses on real-time intraoperative detection of residual disease to reduce re-excisions but uses a different imaging modality.
• iCAD: iCAD provides AI-based breast cancer risk assessment and image analysis (ProFound AI for DBT, breast density assessment). It targets the same breast imaging clinical workflow as Perimeter and could expand into intraoperative margin visualization over time.
• Mauna Kea Technologies: Mauna Kea Technologies makes Cellvizio, a probe-based confocal laser endomicroscopy/OCT platform used for intraoperative tissue visualization. It is a smaller, specialized competitor in OCT-based intraoperative imaging that overlaps with Perimeter's core technology approach.
• Volpara Health (Lunit): Volpara Health (now part of Lunit) delivers AI-powered breast imaging analytics for screening and risk assessment. While focused upstream in mammography screening rather than intraoperative margin assessment, it represents an AI breast-imaging peer competing for hospital imaging AI budgets.
• Invenio Imaging: Invenio Imaging develops AI-enabled OCT-based tissue imaging systems with applications in pathology and intraoperative assessment. It is a niche technology peer using similar OCT-plus-AI architecture for tissue analysis and is positioned as a potential competitor in intraoperative oncology imaging.

Broad incumbents

• Carl Zeiss Meditec: Carl Zeiss Meditec is a global leader in optical coherence tomography (Cirrus HD-OCT) and intraoperative surgical microscopy. As a major OCT manufacturer with deep R&D resources, it could expand from ophthalmology into intraoperative oncologic OCT applications overlapping with Perimeter.
• Leica Microsystems (Danaher): Leica Microsystems, a Danaher operating company, supplies surgical microscopy and intraoperative imaging platforms widely used in operating rooms. Its installed hospital base and capital equipment salesforce make it a broad incumbent that could bundle AI-driven tissue visualization into existing OR workflows.
• Stryker: Stryker offers surgical visualization platforms (SPY fluorescence imaging, OR integration) and has growing exposure to AI-enabled surgical imaging. As a top-tier medtech incumbent with broad hospital relationships, it represents a potential competitor or acquirer for AI intraoperative imaging niches like Perimeter's.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xtwitter.com/PerimeterMed
• YouTubevimeo.com/perimetermedical
• Facebookfacebook.com/PerimeterMedicalImagingAI
• LinkedInlinkedin.com/company/perimeter-medical-imaging
• Instagraminstagram.com/perimetermed_ai

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds11 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Perimeter Medical Imaging