Conavi Medical
Conavi Medical is a Toronto-based medical device company developing the Novasight Hybrid System, the first intravascular imaging platform combining co-registered IVUS and OCT on a single catheter for interventional cardiologists performing complex coronary PCI procedures.
- Company typePublic
- Founded2024
- HeadquartersToronto, Canada
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What Conavi Medical does
Conavi Medical is a Toronto-based medical device company that develops and commercializes the Novasight Hybrid System, an intravascular imaging platform designed for use during percutaneous coronary interventions (PCI). The system is the first and only commercial platform to combine co-registered and co-linear intravascular ultrasound (IVUS) and optical coherence tomography (OCT) imaging on a single catheter, single console architecture, enabling interventional cardiologists to obtain complementary lumen and vessel wall visualization in one pullback. The product suite comprises the Hummingbird Console, the Portable Imaging Module (PIM) with a bedside Jog switch for live IVUS scout imaging, and single-use hybrid IVUS-OCT catheters (6F guide compatible, 1.7F entry profile, pullback speeds up to 25 mm/s).
The company generates revenue through capital equipment sales of consoles and recurring sales of single-use catheters to hospitals and cardiac catheterization labs. After emerging as a public entity via its March 2024 merger with Titan Medical Inc. and listing on the TSX Venture Exchange, Conavi has pursued an enterprise field sales go-to-market targeting interventional cardiology departments performing complex PCI, including calcified lesions, in-stent restenosis, and thrombotic lesions. Following FDA 510(k) clearance of its next-generation system in April 2026, the company is preparing a limited U.S. commercial launch in H2 2026. Current revenue is minimal ($0.3 million for the six months ended March 31, 2026) as the business remains in pre-commercialization, with a Q2 fiscal net loss of $4.8 million reflecting ongoing R&D and regulatory investment funded by repeated public equity raises (cumulative ~$32 million USD raised in 2025-2026) and a CAD $2.5 million grant from the Province of Ontario's Life Sciences Scale-Up Fund.
Conavi Medical firmographics
Firmographics- Name
- Conavi Medical
- Legal name
- Conavi Medical Inc.
- Website
- https://conavi.com
- Company type
- Public
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Conavi Medical is a Toronto-based medical device company developing the Novasight Hybrid System, the first intravascular imaging platform combining co-registered IVUS and OCT on a single catheter for interventional cardiologists performing complex coronary PCI procedures.
- Ownership category
- akta.pro rank
Conavi Medical industry classification
Industry- Product category
- Intravascular Imaging Systems
- NAICS
- Surgical and Medical Instrument Manufacturing (339112), Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)
- SIC
- Surgical & Medical Instruments & Apparatus (3841), Electromedical & Electrotherapeutic Apparatus (3845)
- akta.pro primary industry
- Surgical Navigation, Robotics & Patient-Matched Instrumentation (Ortho/Spine) (HLAHAEAL)
- akta.pro secondary industry
- Interventional Cardiology (PCI/Structural Heart) (HLAKABAB)
Keywords
Where Conavi Medical is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Conavi Medical business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain
Revenue model
- Medical Device Sales - Console and Accessories: Sale of the Novasight Hybrid System including the Hummingbird Console, Portable Interface Module (PIM), and single-use IVUS-OCT catheters. Hospitals purchase and maintain one console instead of two, reducing capital equipment costs.
- Single-use Catheter Sales: Disposable IVUS-OCT catheters for single-use procedures. The catheter is a prescription medical device restricted to sale by or on the order of a physician.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Conavi Medical product offering
Product offeringCore offering
Conavi Medical develops, manufactures, and sells the Novasight Hybrid System, a hybrid intravascular imaging platform that combines intravascular ultrasound (IVUS) and optical coherence tomography (OCT) into a single catheter, single console, and single pullback for coronary artery imaging during percutaneous coronary interventions (PCI). The system includes the Hummingbird Console, Portable Imaging Module (PIM), and single-use disposable hybrid catheters, and is sold to hospitals and cardiac catheterization labs performing complex interventional cardiology procedures.
Product overview
Conavi Medical offers the Novasight Hybrid System, a unified medical imaging platform that is the first and only intravascular imaging system to combine co-registered IVUS and OCT on a single console. The system consists of the Hummingbird Console (the main processing and display unit), the Portable Imaging Module or PIM (the bedside controller with Jog switch for live IVUS scouting), and single-use hybrid catheters. This integrated approach allows clinicians to access both IVUS and OCT imaging through one catheter, one pullback, eliminating the need for separate systems while providing complementary information from both modalities.
Differentiator
Problem solved
Functional benefit
Brands
- Novasight Hybrid System: First and only intravascular imaging system to combine co-registered IVUS and OCT on a single system for coronary artery imaging during interventional procedures
Products and services
- Novasight Hybrid System Intravascular imaging system combining co-registered IVUS (intravascular ultrasound) and OCT (optical coherence tomography) on a single platform for coronary artery imaging during percutaneous coronary interventions (PCI). The system includes the Hummingbird Console, Portable Imaging Module (PIM), and single-use hybrid catheters, and is sold to hospitals and cardiac catheterization labs performing interventional cardiology procedures.
- Novasight Hybrid Catheter (single-use disposable) Single-use disposable hybrid IVUS-OCT imaging catheter compatible with 6F guide catheters and 0.014-inch guidewires, featuring 149cm working length, 1.7F entry profile, and radiopaque markers for precise imaging positioning. Generates recurring revenue as each catheter is used once per procedure and is restricted to sale by or on the order of a physician (prescription device).
Quantifiable outcome
- Peer-reviewed validation demonstrated hybrid IVUS-OCT with deep learning outperformed single-modality IVUS, single-modality OCT, and expert readers in plaque characterization using cadaveric human heart specimens
- +2 more outcomes
Companies that use Conavi Medical
Customer profileSegments2 records
Ideal customer profiles1 record
Conavi Medical technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature6 records
Conavi Medical partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Titan Medical Inc.foundationalTitan Medical Inc. merged with Conavi Medical in March 2024 to establish a leading public company specializing in hybrid intravascular imaging combining IVUS and optical coherence tomography technologies. The merger created a combined entity focused on cardiovascular imaging commercialization.
Scale indicators9 records
Recent moves10 records
Expansion highlights6 records
Conavi Medical competitors and assessment
Company assessmentDirect peers
- Boston Scientific: Boston Scientific's cardiology portfolio includes IVUS systems (OptiCross) and AVVIGO+ multi-modality imaging for coronary procedures, making it one of the closest direct competitors to Conavi's hybrid IVUS-OCT platform. Both companies sell intravascular imaging catheters to interventional cardiologists performing complex PCI.
- Abbott: Abbott's cardiovascular division sells ILUMIEN OCT imaging systems with Dragonfly and OPTIS catheters for PCI guidance. Abbott is a direct competitor in intravascular imaging and serves the same interventional cardiology cath-lab customers that Conavi is targeting with the Novasight Hybrid System.
- Philips: Philips (formerly Volcano) is a major intravascular imaging vendor offering Digital IVUS catheters (Eagle Eye, Revolution) used in PCI guidance. As a leading IVUS incumbent, Philips competes directly with Conavi for cath-lab capital equipment and single-use catheter purchasing decisions.
- ACIST Medical Systems: ACIST Medical Systems offers the Kodama HD-IVUS system for coronary imaging during PCI procedures. ACIST is a direct peer to Conavi, selling intravascular imaging catheters and consoles to the same interventional cardiology customer segment.
- Infraredx (a Nipro company): Infraredx developed the TVC Insight catheter combining IVUS with near-infrared spectroscopy (NIRS) for plaque characterization, making it the closest analog to Conavi's hybrid IVUS-OCT concept. Now part of Nipro, it competes in the same dual-modality intravascular imaging niche as Novasight.
- Terumo: Terumo manufactures intravascular imaging products including IVUS systems distributed globally. As a major Japanese cardiovascular device manufacturer with global cath-lab reach, Terumo is a comparable peer serving interventional cardiologists with intravascular imaging solutions.
Broad incumbents
- Medtronic: Medtronic is a broad incumbent in interventional cardiology with a large coronary product portfolio and historical presence in intravascular imaging (e.g., NvisionVLE). It competes with Conavi for cath-lab contracts and physician mindshare, even though intravascular imaging is one of many segments in its broader cardiology franchise.
Emerging players
- HeartFlow: HeartFlow provides AI-enabled non-invasive coronary imaging (FFR-CT) used in pre-PCI planning. While its modality is non-invasive CT-based rather than intravascular, it addresses overlapping clinical decision-making in coronary artery disease and represents an emerging competitor that could shape interventional cardiology workflows.
- Elucid Bioimaging: Elucid develops OCT-based plaque characterization software for vascular imaging. It is an emerging adjacent player whose AI/software approach to plaque analysis overlaps with Conavi's hybrid IVUS-OCT + deep learning strategy, and it could compete for the same clinical decision-support layer in cath labs.
Regional players
- Shockwave Medical: Shockwave Medical (now part of Johnson & Johnson) develops intravascular lithotripsy (IVL) for calcified lesions during PCI, including IVUS-guided IVL procedures. While Shockwave sells a therapeutic rather than imaging device, it is frequently used adjunctively with intravascular imaging and competes for the same cath-lab capital and procedure budget.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Conavi Medical social profiles
Digital presenceConavi Medical financial estimates
Financial estimateRevenue estimate
Valuation estimate
Conavi Medical leadership team
Management profileNumber of profiles
Profiles4 records
Conavi Medical funding detail
Funding detailFunding overview
Funding rounds3 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Conavi Medical M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Conavi Medical
What does Conavi Medical do?
Conavi Medical develops, manufactures, and sells the Novasight Hybrid System, a hybrid intravascular imaging platform that combines intravascular ultrasound (IVUS) and optical coherence tomography (OCT) into a single catheter, single console, and single pullback for coronary artery imaging during percutaneous coronary interventions (PCI). The system includes the Hummingbird Console, Portable Imaging Module (PIM), and single-use disposable hybrid catheters, and is sold to hospitals and cardiac catheterization labs performing complex interventional cardiology procedures.
Is Conavi Medical a public or private company?
Conavi Medical is a public company. It is classified as public and is currently operating.
When was Conavi Medical founded?
Conavi Medical was founded in 2024. It employs 51 to 100 people.
Where is Conavi Medical based?
Conavi Medical is headquartered in Toronto, Canada, in the North America region.
How does Conavi Medical make money?
Two revenue lines are on record. Medical Device Sales - Console and Accessories are the primary driver. The others are single-use Catheter Sales.
Who are Conavi Medical's main competitors?
Direct peers on record are Boston Scientific, Abbott, Philips, ACIST Medical Systems, Infraredx (a Nipro company) and Terumo. Medtronic is listed as a broad incumbent. Emerging players are HeartFlow and Elucid Bioimaging. Shockwave Medical is listed as a regional player.
Does Conavi Medical have an API?
No public API is recorded for Conavi Medical.
What industry is Conavi Medical in?
Conavi Medical's product category is Intravascular Imaging Systems. Its primary akta.pro industry code is HLAHAEAL, Surgical Navigation, Robotics & Patient-Matched Instrumentation (Ortho/Spine), with a secondary code of HLAKABAB, Interventional Cardiology (PCI/Structural Heart). Its NAICS code is 339112 and its SIC code is 3841.