PAVmed

What PAVmed does

PAVmed Inc. (Nasdaq: PAVM) is a New York-based medical technology holding company founded in 2014 that develops and commercializes diagnostic and digital health products, primarily through its majority-owned subsidiary Lucid Diagnostics and its Veris Health subsidiary. The company's lead commercial asset is the EsoGuard Esophageal DNA Test, a molecular diagnostic that detects epigenetic changes associated with esophageal precancer, paired with the EsoCheck cell collection device — a swallowable, balloon-based sampling catheter used to non-endoscopically collect surface cells from the lower esophagus. Together, EsoCheck + EsoGuard form a non-invasive screening workflow intended for at-risk patients (chronic GERD, Barrett's esophagus surveillance) in primary care and direct-to-patient community settings, processed at Lucid's CLIA-certified, CAP-accredited laboratory.

PAVmed's broader pipeline also includes the Veris implantable physiological monitor and the Veris Cancer Care Platform (a digital health offering targeting cancer patients), PortIO (a fully implantable vascular access device), and endoscopic imaging technology licensed from Duke University. The business model is a per-test reimbursement model for EsoGuard (an estimated $400-500 ASP per test) executed through Lucid Test Centers, mobile units, primary-care distribution, and government channels including a recently secured VA Federal Supply Schedule contract. The company employs 51-100 people, is sub-scale ($5-7M annualized consolidated revenue), and has been recapitalized in early 2026 via a $30M Series D, a $15M senior secured note, a Lucid public offering of approximately $17-18M, and a 1-for-30 reverse stock split, with a market capitalization of approximately $9.85M as of April 2026 — characteristics of a micro-cap medtech in commercial-inflection phase.

Name

PAVmed

Legal name

PAVmed Inc.

Website

https://pavmed.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

PAVmed is a New York-based medical technology holding company (founded 2014) that commercializes the EsoGuard esophageal precancer DNA test and EsoCheck sampling device through its majority-owned Lucid Diagnostics subsidiary, targeting at-risk GERD and Barrett's esophagus patients.

Ownership category

akta.pro rank

Product category

Medical Devices and Diagnostics

NAICS

Medical and Diagnostic Laboratories (62151), Computer Systems Design and Related Services (54151)

SIC

In Vitro & In Vivo Diagnostic Substances (2835)

akta.pro primary industry

Cytology & Histopathology Diagnostics (IHC, ISH, tissue-based assays) (HLAAALAI)

akta.pro secondary industry

Medical-Grade Device Connectivity & Device Management (MDM) (HLACAFAG)

Keywords

• Medical diagnostics
• Digital health platform
• Medical device innovation
• Esophageal precancer detection
• Remote patient monitoring

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. EsoGuard Test Revenue: Recurring revenue from sales of the EsoGuard Esophageal DNA Test performed on samples collected via EsoCheck. Recognized $1.3 million in 1Q26, $1.5 million in Q4 2025, and $1.2 million in Q3 2025 (a 3% year-over-year increase). Pricing aligned to the Medicare payment rate set by CMS. Revenue is test-volume based with per-test economics.
2. Veris Health Subscription / Remote Patient Monitoring Revenue: Planned recurring revenue model through subscriptions to the Veris Cancer Care Platform combined with connected external devices and the implantable physiological monitor (in development). Veris commercial engagement underway with Ohio State University's James Cancer Hospital.
3. Medical Device Portfolio Sales (PortIO, Duke endoscopic imaging): Future revenue from the relaunched medical device portfolio including the PortIO implantable intraosseous vascular access device and endoscopic esophageal imaging technology licensed from Duke University, under the leadership of SVP/CBO Joseph Virgilio.
4. Government / VA Channel Revenue: EsoGuard revenue from VA Federal Supply Schedule contract awarded by the U.S. Department of Veterans Affairs to provide testing to over nine million enrolled veterans across approximately 170 VA medical centers, at Medicare payment rates.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels9 records

Core offering

PAVmed is a diversified commercial-stage medical technology company that develops, manufactures, and commercializes medical devices, diagnostic tests, and digital health solutions through its majority-owned subsidiaries Lucid Diagnostics and Veris Health. Its commercial flagship is the EsoGuard Esophageal DNA Test performed with the EsoCheck cell collection device for early detection of esophageal precancer in at-risk GERD patients, with the Veris Cancer Care Platform extending into remote physiologic monitoring for cancer patients and the PortIO implantable intraosseous vascular access device addressing vascular access needs.

Product overview

PAVmed operates as a diversified commercial-stage medical technology company with a platform-plus-portfolio architecture spanning three sectors: medical devices, diagnostics, and digital health. The parent company holds core medical device assets such as the PortIO implantable intraosseous vascular access device and the endoscopic esophageal imaging technology licensed from Duke University. Diagnostics capabilities are housed in the Lucid Diagnostics subsidiary, which markets the EsoGuard® Esophageal DNA Test together with the EsoCheck® Esophageal Cell Collection Device as a paired test-and-device solution for esophageal precancer detection. Digital health capabilities are housed in the Veris Health subsidiary, whose Veris Cancer Care Platform combines a remote physiologic monitoring service with the Veris Implantable Physiological Monitor and the intelligent implantable vascular access port with biologic sensors acquired from Oncodisc Inc. Together, these subsidiaries and devices form a connected oncology franchise linking in-clinic diagnostics, implantable sensing, and remote care coordination.

Differentiator

Problem solved

Functional benefit

Brands

• Lucid Diagnostics: Commercial-stage cancer prevention medical diagnostics company and majority-owned subsidiary of PAVmed; markets the EsoGuard Esophageal DNA Test and EsoCheck Esophageal Cell Collection Device — the first and only commercial tools for widespread early detection of esophageal precancer.
• Veris Health

Products and services

• EsoGuard Esophageal DNA Test A molecular diagnostic DNA test that analyzes esophageal cells collected non-endoscopically to detect precancerous changes associated with esophageal cancer; performed at the LucidDx Labs commercial laboratory. Designed for at-risk GERD patients as a non-endoscopic, office-based screening test.
• EsoCheck Esophageal Cell Collection Device A brief, noninvasive, office-based medical device that gently gathers surface esophageal cells for subsequent analysis with the EsoGuard DNA Test; used in physician offices, satellite test centers, and mobile testing events.
• Veris Cancer Care Platform A digital health platform that provides remote physiologic monitoring and care coordination for cancer patients by collecting and transmitting data from the Veris implantable monitor and connected external devices to oncology care teams.
• Veris Implantable Physiological Monitor
• PortIO Implantable Intraosseous Vascular Access Device An implantable intraosseous vascular access device that provides an alternative site for vascular access in patients who have exhausted conventional venous access options.
• Endoscopic Esophageal Imaging Technology An endoscopic esophageal imaging technology licensed from Duke University, forming part of PAVmed's gastrointestinal imaging pipeline and intended to complement its esophageal precancer detection offerings.

Quantifiable outcome

• 3,177 EsoGuard tests processed in Q1 2026, generating $1.3M in revenue
• +4 more outcomes

Named customers4 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

Feature8 records

Partnerships

Eleven partnerships are on record, tiered flagship / strategic, major and minor.

• Ohio State University – The James Cancer Hospitalflagship / strategicStrategic or Co-development Partner · 15 May 2026Veris Health further advanced its strategic engagement with The Ohio State University's James Cancer Hospital, with the commercial phase underway, expansion into additional departments in progress, and continued positive clinical and administrative feedback. Veris is engaging OSU–James as a key commercial channel for its remote patient monitoring platform.
• Duke UniversitymajorOEM/ Whitelabel/ Licensing Partner · 2 April 2026PAVmed has a license agreement with Duke University for endoscopic imaging technology, which is being advanced under the relaunched medical device portfolio alongside the PortIO implantable device, overseen by SVP/CBO Joseph Virgilio.
• U.S. Department of Veterans Affairsflagship / strategicChannel Partner/ Reseller/ Distributor · 21 January 2026Lucid Diagnostics was awarded a contract by the U.S. Department of Veterans Affairs for its EsoGuard Esophageal DNA Test. Issued under the VA Federal Supply Schedule with pricing matching Medicare rates, the contract enables VA facilities nationwide to procure the test and expands access to esophageal precancer testing across the VA's integrated healthcare system serving more than nine million enrolled veterans across approximately 170 VA medical centers.
• Florida Digestive Health SpecialistsminorGTM or Marketing Partner · 5 June 2023Florida Digestive Health Specialists hosted the first esophageal precancer detection event utilizing an EsoGuard mobile test unit in Sarasota, Florida.
• CancerXflagship / strategicStrategic or Co-development Partner · 2 June 2023Veris Health joined CancerX as a founding member — a public-private partnership co-hosted by Moffitt Cancer Center and the Digital Medicine Society (DiMe), alongside the Office for the National Coordinator for Health Information Technology (ONC) and the Office of the Assistant Secretary for Health (OASH). CancerX was announced by President Biden and Dr. Jill Biden in February 2023 under The White House's national Cancer Moonshot initiative. Veris's role is to drive priorities and best practices in digital innovation for cancer care, including CancerX's inaugural project "Advancing Digital Innovation to Improve Equity and Reduce Financial Toxicity in Cancer Care and Research."
• Moffitt Cancer Centerflagship / strategicStrategic or Co-development Partner · 2 June 2023Moffitt Cancer Center co-hosts CancerX alongside the Digital Medicine Society (DiMe). Santosh Mohan, Vice President, Digital at Moffitt, commented on Veris Health's role in building an innovative ecosystem for the Cancer Moonshot.
• Digital Medicine Society (DiMe)flagship / strategicStrategic or Co-development Partner · 2 June 2023Digital Medicine Society (DiMe) co-hosts CancerX with Moffitt Cancer Center. Smit Patel, Associate Program Director at DiMe, partnered with Veris to establish best practices and demonstrate the impact of digital innovation in cancer care.
• Office of the National Coordinator for Health Information Technology (ONC)majorStrategic or Co-development Partner · 2 June 2023ONC participates as a co-host of CancerX alongside Moffitt Cancer Center and DiMe, supporting the Cancer Moonshot initiative that Veris Health is part of as a founding member.
• Office of the Assistant Secretary for Health (OASH)majorStrategic or Co-development Partner · 2 June 2023OASH participates as a co-host of CancerX alongside Moffitt Cancer Center and DiMe, supporting the Cancer Moonshot initiative that Veris Health is part of as a founding member.
• San Antonio Fire Department (SAFD)minorGTM or Marketing Partner · 1 January 2023PAVmed's subsidiary Lucid Diagnostics partnered with Dr. Rachelle Hamblin, M.D., M.P.H., and the San Antonio Fire Department to deliver the first #CheckYourFoodTube Precancer Testing Event. 391 at-risk members (nearly one-quarter of the department) were tested using EsoCheck/EsoGuard over two weekends during Firefighter Cancer Awareness Month.
• Oncodisc Inc.majorStrategic or Co-development Partner · 2 June 2021Oncodisc Inc. was acquired by Veris Health Inc., a subsidiary of PAVmed Inc., on June 2, 2021. The acquisition includes Oncodisc's core technologies such as an intelligent implantable vascular access port with biologic sensors and a remote healthcare platform aimed at improving cancer care. Veris plans to seek FDA clearance and generate recurring revenue through subscriptions.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Lucid Diagnostics (PAVmed majority-owned subsidiary): Majority-owned PAVmed subsidiary that markets EsoGuard and EsoCheck; separately listed on Nasdaq (LUCD) and therefore itself a comparable standalone investment vehicle for the same commercial diagnostic.
• Exact Sciences: Molecular diagnostics company commercializing Cologuard for colorectal cancer screening via a non-invasive, mail-in workflow; the closest large-scale analog to Lucid's EsoGuard model for esophageal precancer detection.

Emerging players

• GRAIL: Developer of Galleri, a multi-cancer early-detection blood test; overlaps with PAVmed's cancer prevention/screening thesis and shares the payor-reimbursement-driven commercial model.
• Natera: Cell-free DNA/molecular diagnostics company with oncology (Signatera) and reproductive health franchises; comparable in test-volume-based revenue, Medicare reimbursement dynamics, and recurring test economics.
• Guardant Health: Oncology-focused molecular diagnostics company (Guardant360, Shield) with a CLIA lab-based commercial model; relevant comparator for EsoGuard's lab-throughput-driven commercial approach.
• Vivify Health: Remote patient monitoring and connected care platform; directly comparable to Veris Health's digital health, subscription-based care-coordination model for chronic and post-acute patients.

Broad incumbents

• AngioDynamics: Diversified medical device company that acquired PAVmed founders' prior venture Vortex Medical (AngioVac); relevant legacy comparator for PAVmed's medical device business and board/founder network.
• Medtronic: Largest medical device incumbent with implantable cardiac monitors (Reveal LINQ), vascular access ports, and remote patient monitoring — directly analogous technology categories to Veris Health and PAVmed's device portfolio.
• Teleflex: Medical device company with intraosseous and vascular access product lines that compete with PortIO and Veris's chemotherapy-port-adjacent implantable monitor.

Others

• Avista Capital Partners portfolio companies (e.g., Navilyst Medical legacy): Director Ron Sparks led Navilyst Medical (sold to AngioDynamics for $372M) under Avista; relevant historical peer/capital-markets benchmark for the medical device portfolio and exit profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/pavmedinc
• YouTubeyoutube.com/channel/UCPsm2Exc-F_Yu88d35jSWCA
• LinkedInlinkedin.com/company/pavmed-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries3 records

Funding overview

Funding rounds5 records

Investors1 record

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

M&A1 record

Investments

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

Frequently asked questions about PAVmed