CoapTech

What CoapTech does

CoapTech is an early-stage medical device company founded in 2016 and headquartered in Baltimore, MD, that develops the PUMA (Point-of-care Ultrasound Magnet Aligned) Platform. The platform combines rare-earth magnets (covered by a European patent granted in June 2018) with point-of-care ultrasound to enable minimally invasive procedures in hollow organs, allowing clinicians to visualize critical tissue without fluoroscopy, CT, or endoscopy. The company's commercial product is the PUMA-G System, an FDA 510(k)-cleared procedural kit for percutaneous ultrasound gastrostomy (PUG) — the first FDA-cleared, ultrasound-based solution for bedside feeding tube placement, originally cleared in April 2019 and expanded to pediatric use with the PUMA-G Pediatric device cleared in May 2025. A third pipeline product, PUMA-J, is in first-in-humans clinical study funded by a 2024 MIPS grant.

The company sells PUMA-G as a hardware procedural kit directly to hospitals through an enterprise field-sales motion, targeting critical care units, ICUs, interventional radiology departments, long-term acute care hospitals, and increasingly pediatric hospitals. Pricing is not publicly disclosed and is handled via direct sales contact. Customer evidence centers on large academic medical centers (Jackson Memorial Hospital, UM-BWMC, Johns Hopkins, Columbia/NY Presbyterian, Mayo Clinic training sites, CHOP) where published clinical studies have demonstrated $26,621–$34,778 per-patient hospital cost reductions and 5–10 day ICU length-of-stay reductions relative to traditional PEG/PRG procedures. The company is complemented by non-dilutive NIH/NIDDK grant funding (totaling roughly $3M) supporting clinical evidence generation and pediatric development, alongside equity financing including a $7M Series B led by Hunniwell Lake Ventures (August 2020) and additional exempt offerings in 2023 and 2024. In November 2025, the founder-CEO Howard Carolan transitioned to an advisory role and Brad Kreger (former Velo3D CEO) was appointed CEO to scale the commercial organization.

Name

CoapTech

Legal name

CoapTech, Inc.

Website

https://coaptech.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

CoapTech is a Baltimore-based medical device company that developed the PUMA platform, using point-of-care ultrasound and rare-earth magnets to enable minimally invasive bedside gastrostomy procedures. It sells the FDA-cleared PUMA-G System directly to hospital ICUs, critical care units, interventional radiology departments, and pediatric hospitals.

Ownership category

akta.pro rank

Product category

Medical Devices

NAICS

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

SIC

Surgical & Medical Instruments & Apparatus (3841), Orthopedic, Prosthetic & Surgical Appliances & Supplies (3842)

akta.pro primary industry

Cardiac Assist & Heart Failure Therapies (Implantables, Neuromodulation) (HLAHAFAL)

Keywords

• Medical devices
• Minimally invasive surgery
• Point-of-care ultrasound
• Gastrostomy procedures
• Critical care equipment

Headquarters

HQ city

Baltimore

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. PUMA-G System Sales: Sale of the FDA-cleared PUMA-G procedural kit for percutaneous ultrasound gastrostomy procedures. The system is sold directly to hospitals for use in ICUs, critical care units, interventional radiology suites, and long-term acute care facilities. Revenue is generated through device sales to healthcare institutions.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

CoapTech develops and sells FDA-cleared medical device kits based on its proprietary PUMA (Point-of-care Ultrasound Magnet Aligned) platform. Its flagship product, the PUMA-G System, is an FDA 510(k)-cleared procedural kit that enables Percutaneous Ultrasound Gastrostomy (PUG) at the bedside using point-of-care ultrasound and rare-earth magnets, eliminating the need for an operating room, endoscope, fluoroscopy, or CT scanner. The portfolio includes the PUMA-G Pediatric device (FDA-cleared May 2025) and the PUMA-J device (in development).

Product overview

CoapTech offers a platform-based product portfolio centered on the PUMA (Point-of-care Ultrasound Magnet Aligned) Platform technology. The core offering is the PUMA-G System, an FDA-cleared procedural kit for Percutaneous Ultrasound Gastrostomy (PUG) that enables bedside feeding tube placement using ultrasound guidance instead of traditional operating room procedures. The portfolio includes the PUMA-G Pediatric device (FDA-cleared for children) and the PUMA-J device (in development). All products leverage the patented PUMA Platform technology that uses rare-earth magnets for positioning and point-of-care ultrasound visualization of tissue during minimally invasive procedures.

Differentiator

Problem solved

Functional benefit

Brands

• PUMA Platform: Patented disruptive technology enabling procedures using point-of-care ultrasound in hollow organs. The platform uses rare-earth magnets for positioning and placement.
• PUMA-G System
• PUMA-G Pediatric
• PUMA-J

Products and services

• PUMA-G System FDA 510(k)-cleared procedural kit for percutaneous ultrasound gastrostomy (PUG) enabling bedside feeding tube placement using point-of-care ultrasound. The first and only FDA-cleared ultrasound-based solution for gastrostomy, it replaces traditional PEG/PRG procedures that require operating rooms, endoscopes, or fluoroscopy, and uses readily available medical components including any ultrasound, feeding tubes, guidewires, and dilators.
• PUMA-G Pediatric FDA 510(k)-cleared pediatric version of the PUMA-G System enabling ultrasound-based gastrostomy procedures for children. Reduces radiation, sedation, procedure time, scarring, and infections in pediatric patients, addressing heightened safety concerns in this population.

Quantifiable outcome

• $34,778 per-patient hospital cost reduction (Jackson Memorial Hospital, 2024)
• +5 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Johns Hopkins HospitalcoreStrategic or Co-development Partner · 10 November 2025CoapTech partners with Johns Hopkins' 9th Annual Percutaneous Tracheostomy course to support Ultrasound Gastrostomy physician training. The course is held at the MISTIC Center at The Johns Hopkins Hospital, combining CoapTech's PUG training with Johns Hopkins' established tracheostomy education program.
• Cook MedicalcoreStrategic or Co-development Partner · 1 April 2025CoapTech and Cook Medical launched co-training partnership for TPUG (Tracheostomy + Percutaneous Ultrasound Gastrostomy) procedures. Training focuses on Percutaneous Tracheostomy (Cook portion), Ultrasound Gastrostomy (CoapTech portion), and benefits of concomitant TPUG procedures. Joint training course held at Mayo Clinic Arizona (March 2026).
• Fidmi MedicalminorStrategic or Co-development Partner · 18 September 2019Collaboration on groundbreaking G-Tube (gastrostomy tube) systems, combining CoapTech's PUMA Platform technology with Fidmi Medical's gastrostomy device expertise.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Avanos Medical: Avanos markets enteral feeding products including the MIC-KEY and Ballard gastrostomy tubes, directly competing with CoapTech's PUMA-G for hospital feeding tube placements and competing head-to-head in the same procedural category.
• Cook Medical: Cook Medical is a strategic co-training partner of CoapTech and a major manufacturer of percutaneous tracheostomy kits and enteral feeding devices; it competes in the same gastrostomy/PEG procedure space while also collaborating via the TPUG training program.
• Halyard Health (Owens & Minor): Halyard Health (now part of Owens & Minor) provides enteral nutrition products including feeding tubes and gastrostomy devices, directly competing with CoapTech for hospital feeding tube procedure sales.

Emerging players

• Fidmi Medical: Fidmi Medical develops low-profile gastrostomy tube devices and has an existing co-development relationship with CoapTech on G-tube systems, making it a directly comparable emerging player in the same gastrostomy device category.
• Apollo Endosurgery: Apollo Endosurgery specializes in endoscopic and minimally invasive GI procedures including gastrostomy tubes (OverStitch, X-Tack), positioning it as an emerging player with overlapping procedural device offerings for CoapTech's addressable market.

Broad incumbents

• Boston Scientific: Boston Scientific has a large gastrointestinal and endoscopic portfolio including PEG kits and enteral access devices, making it a broad incumbent competing with CoapTech for hospital enteral access procedure volume.
• Olympus Medical: Olympus is a dominant player in endoscopy and PEG placement equipment and competes with PUMA-G for ICU feeding tube procedures that currently default to endoscopic PEG approaches.
• Medtronic: Medtronic has a substantial gastrointestinal therapies portfolio (acquired via Covidien) including enteral feeding and PEG devices, making it a large incumbent that CoapTech competes against in hospital GI procedure markets.
• Becton Dickinson (BD): BD manufactures enteral feeding tubes, gastrostomy devices, and broader procedural medical devices, making it a broad incumbent with overlapping offerings in the same procedural category as CoapTech.
• AbbVie (formerly Allergan): AbbVie markets enteral feeding devices through its portfolio and serves hospitals performing gastrostomy procedures, placing it as a broad incumbent with overlapping enteral access products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds11 records

Investors9 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 CoapTech