Pulse

What Pulse does

Shanghai Pulse Medical Technology, Inc., operating as Pulse Medical, is a China-based medical technology company founded in 2015 that develops computational coronary physiology and plaque vulnerability assessment tools for interventional cardiology. The company is headquartered in Xuhui District, Shanghai, with additional offices in Beijing and Kunshan, and operates in approximately 35 countries with documented clinical collaborations in China, the United States, Japan, Italy, Brazil, Germany, Ireland, and the Netherlands. Its primary end users are tertiary and quaternary hospitals with cardiac catheterization labs performing percutaneous coronary intervention (PCI), transcatheter aortic valve replacement (TAVR), and other interventional cardiology procedures, served through an enterprise field sales motion anchored by clinical evidence presented at major cardiology conferences (EuroPCR, TCT, MEDICA, CVIT, SOLACI).

The company's core technology is its Murray-law based quantitative flow ratio (μFR) computational platform, developed in collaboration with the Shanghai Jiao Tong University-Pulse Medical Joint Laboratory led by Prof. Shengxian Tu. The integrated product portfolio spans angiography-derived FFR (μFR® via AngioPlus Core), CCTA-derived FFR (CT-μFR via CtaPlus), OCT-derived FFR (OFR via OctPlus), IVUS-derived FFR (UFR via IvusPlus), and a CTA-based pre-TAVR planning tool (ValvePlus). Hardware consists of the AcoPilot intravascular imaging console and UltraFlyer/UltraFlyer HD IVUS catheters. AI-driven capabilities include fully automatic analysis (23 sec/vessel for μFR, 1.60 min/patient for CT-μFR), AI-based plaque characterization in OCT images, AI stent detection, and the Radial Wall Strain (RWS) algorithm for plaque vulnerability assessment, which received FDA Breakthrough Device Designation in 2022.

Pulse generates revenue through three streams: one-time and recurring medical device hardware sales (AcoPilot consoles and UltraFlyer catheters with disposable economics), one-time software licensing for the AngioPlus, CtaPlus, OctPlus, IvusPlus, and ValvePlus applications, and fee-based Core Lab research services for clinical trials. The company is privately held, with a $100 million funding round closed in August 2021 led by Hillhouse Investment and Philips (China), with participation from Boxin Capital, Boyu Capital, Goldman Sachs Asset Management, and Linghao Touzi. Go-to-market is enterprise field sales to hospitals and cath labs, quote-based pricing via a Request a Demo workflow, and international distribution partnerships including NIPRO Corporation and GOODMAN Co., Ltd in Japan.

Name

Pulse

Legal name

Shanghai Pulse Medical Technology, Inc.

Website

https://en.pulse-imaging.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

Shanghai Pulse Medical Technology (Pulse Medical) is a China-founded medical technology company developing computational coronary physiology, plaque vulnerability assessment software, and intravascular imaging systems for hospitals and cardiac catheterization labs in approximately 35 countries globally.

Ownership category

akta.pro rank

Product category

Interventional Cardiology Devices

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Surgical and Medical Instrument Manufacturing (339112), Medical Equipment and Supplies Manufacturing (3391)

SIC

Electromedical & Electrotherapeutic Apparatus (3845), Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Hemodynamic Monitoring & Cardiac Diagnostics (Cath Lab, FFR/IVUS/OCT) (HLAHAFAI)

akta.pro secondary industries

Interventional Cardiology (PCI/Structural Heart) (HLAKABAB), Imaging & Cardiac Safety Core Labs (ECOG/EEG/ECG) (HLAGAAAJ)

Keywords

• Coronary physiology software
• Intravascular imaging devices
• FFR analysis systems
• PCI planning software
• Cardiac imaging systems

Headquarters

HQ city

Xuhui

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Medical Device Hardware Sales: Sale of intravascular imaging consoles (AcoPilot) and IVUS catheters (UltraFlyer, UltraFlyer HD) to hospitals and cardiac catheterization labs. One-time capital equipment purchase model for imaging consoles, with recurring revenue from disposable catheter supplies.
2. Software Licensing: Licensing of computational physiology software products including μFR (AngioPlus Core), CT-μFR (CtaPlus), OFR (OctPlus), UFR (IvusPlus), and ValvePlus. Software provides coronary physiology assessment and PCI planning capabilities.
3. Core Lab Services: Medical image analysis, computational coronary physiology analysis, intravascular imaging analysis, and project management services for clinical research trials and studies.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels10 records

Core offering

Pulse Medical develops and sells computational coronary physiology software (μFR via AngioPlus Core, CT-μFR via CtaPlus, OFR via OctPlus, UFR via IvusPlus, and ValvePlus) and intravascular imaging hardware (AcoPilot console and UltraFlyer/UltraFlyer HD IVUS catheters) to hospitals and cardiac catheterization laboratories for non-invasive FFR assessment, PCI planning, plaque vulnerability evaluation, and pre-TAVR measurement. It also provides Core Lab research services for clinical trials.

Product overview

Pulse Medical offers an integrated computational coronary physiology and intravascular imaging platform centered on the AngioPlus Core system. The portfolio spans diagnostic angiography-based FFR (μFR®), CCTA-based FFR (CT-μFR/CtaPlus), OCT-based FFR (OFR/OctPlus), and IVUS-based FFR (UFR/IvusPlus). These core diagnostic tools work alongside the AcoPilot intravascular imaging console and UltraFlyer IVUS catheters for image acquisition, while ValvePlus extends the platform to pre-TAVR planning. The system enables the full PCI workflow from diagnostic assessment through treatment planning and post-PCI optimization, supported by Core Lab research services.

Differentiator

Problem solved

Functional benefit

Products and services

• μFR® (AngioPlus Core) Angiography-based quantitative flow ratio software that derives FFR from coronary angiography images without hyperemic agents or pressure wires. Achieves ≥90% diagnostic accuracy with single or dual angiographic view analysis, used by interventional cardiologists in PCI planning and post-PCI assessment.
• CT-μFR (CtaPlus) CCTA-derived fractional flow reserve analysis software providing one-step automatic analysis within 1 minute. Includes plaque analysis, virtual stent, and gradient index evaluation features for non-invasive coronary physiology assessment, intended for hospitals and imaging centers.
• OFR (OctPlus) OCT-derived super-fast FFR computation and PCI planning software with AI-based stent detection and AI-based plaque characterization (fibrous, lipidic, calcified tissues validated against histology). Provides automatic physiological assessment of vessels for interventional cardiologists.
• UFR (IvusPlus) IVUS-derived ultrasonic flow ratio software for super-fast FFR computation and PCI planning. Includes automatic 2-step vessel segmentation, plaque burden analysis, unique 3D IVUS visualization, and virtual stenting. Fully compatible with PACS, for hospitals and cath labs.
• ValvePlus CTA-derived pre-TAVR image processing and measurement software. Automatically segments aortic valve annulus and surrounding structures within 2 minutes without manual intervention, outputting guideline-recommended measurements and optimal projection angles for structural heart teams.
• AcoPilot Intravascular imaging console for IVUS image acquisition and analysis. Part of the AngioPlus IVUS system, deployed as capital equipment in cardiac catheterization laboratories to support interventional procedures.
• UltraFlyer & UltraFlyer HD IVUS catheters used with the AcoPilot intravascular imaging console for coronary artery imaging during interventional procedures. Sold as recurring disposable supplies to hospitals and cath labs.
• Core Lab Services Professional research services including medical image analysis platform, computational coronary physiology analysis, intravascular imaging analysis, and project management for clinical research trials and studies. Targeted at clinical investigators, trial sponsors, and academic medical centers.

Quantifiable outcome

• Reduces risk of adverse cardiovascular events by 34% over 2 years
• +5 more outcomes

Named customers14 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability8 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core and major.

• Shanghai Jiao Tong UniversitycoreStrategic or Co-development PartnerStrategic research partnership for development of innovative computational physiology and plaque vulnerability assessment techniques. Shanghai Jiao Tong University-Pulse Medical Joint Laboratory led by Prof. Shengxian Tu has developed core technologies including μFR, CT-μFR, OFR, UFR, and RWS.
• Fuwai Hospital (CAMS & PUMC)coreStrategic or Co-development PartnerClinical research collaboration in coronary physiology. Prof. Lei Song from Fuwai Hospital shared clinical evidence of μFR and demonstrated why μFR could be trusted based on FAVOR studies.
• MedStar Health Research Institute (USA)majorStrategic or Co-development PartnerClinical research collaboration with Prof. Hector Manuel Garcia-Garcia sharing real-world application of μFR in USA, including latest progress and results of studies conducted locally.
• Georgetown University (USA)majorStrategic or Co-development PartnerAcademic partnership for computational coronary physiology research and education.
• NIPRO CORPORATION (Japan)majorChannel Partner/ Reseller/ DistributorJapanese distribution partner for Pulse Medical products. Participated in International Training Program at Pulse Medical headquarters.
• GOODMAN Co., Ltd (Japan)majorChannel Partner/ Reseller/ DistributorJapanese distribution partner for Pulse Medical products in cardiovascular intervention market.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• HeartFlow: HeartFlow pioneered FFR-CT analysis for non-invasive coronary physiology assessment from CT angiography. It is the most direct competitor to Pulse's CT-μFR (CtaPlus) product, serving the same interventional cardiology customers with a similar cloud-based computational FFR approach.
• CathWorks: CathWorks developed the FFRangio system, an angiography-based computational FFR solution that competes directly with Pulse's μFR/AngioPlus Core. Both products aim to eliminate pressure wires and hyperemic agents during PCI planning and target the same cath lab workflow.
• ACIST Medical Systems: ACIST Medical Systems (a Bracco subsidiary) developed the RXi rapid exchange FFR system and HDi IVUS, directly competing with Pulse's physiology and intravascular imaging portfolio in the cath lab setting.

Broad incumbents

• Philips (Philips Healthcare): Philips is both a strategic investor in Pulse and a broad incumbent in cardiovascular imaging and interventional cardiology. It offers integrated cath lab systems, IVUS, and FFR-CT through Pie Medical and other acquisitions, making it a competitor as well as a potential distribution partner.
• Boston Scientific: Boston Scientific manufactures IVUS catheters (OptiCross), FFR pressure wires, and a broad coronary intervention portfolio. Its installed base and direct sales force represent a broad incumbent threat to Pulse's UltraFlyer IVUS catheter and IVUS-based UFR software offering.
• Abbott Vascular: Abbott's vascular division offers the PressureWire FFR system, OpticalCoherence Tomography (OCT), and IVUS catheters for coronary imaging. It competes with Pulse across hardware (catheters/consoles) and physiology assessment categories.
• Siemens Healthineers: Siemens Healthineers offers cardiac CT, cath lab imaging, and post-processing software (syngo.via) with FFR-CT capabilities. It competes with Pulse's CT-μFR offering through integrated enterprise imaging deals with cardiology departments.
• GE HealthCare: GE HealthCare provides cardiac CT scanners, cath lab equipment, and AW workstation post-processing tools used in coronary assessment. Its enterprise imaging footprint competes with Pulse's CT-based computational physiology workflow.
• Medtronic: Medtronic is a major player in interventional cardiology including the Reveal LINQ insertable cardiac monitor and broader structural heart portfolio. While less direct in FFR-CT, it competes in the cath lab space where Pulse's diagnostic tools are sold.
• Canon Medical Systems: Canon Medical provides cardiac CT, cath lab angiography systems, and IVUS imaging. It competes with Pulse's multi-modality coronary physiology platform through integrated imaging and post-processing offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/PulseMedTech
• LinkedInlinkedin.com/company/pulsemedical

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors6 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 Pulse