Conavi Medical (formerly Titan Medical)

What Conavi Medical (formerly Titan Medical) does

Conavi Medical (formerly Titan Medical) is a Canadian medical device company headquartered in Toronto at 293 Lesmill Road that develops and commercializes the Novasight Hybrid System, an intravascular imaging platform combining Intravascular Ultrasound (IVUS) and Optical Coherence Tomography (OCT) on a single console for use during minimally invasive cardiovascular procedures. The system's core technical differentiator is the ability to acquire co-registered and co-linear IVUS and OCT images from the same portion of the vessel in a single pullback, with measurements from one modality overlaid on the other, supported by a 1.7F single-use catheter with 149cm working length, fast IVUS pullback speeds up to 25mm/s, live IVUS scout imaging for precision pullback positioning, and failover IVUS data capture when OCT blood clearance is poor. The platform comprises a reusable Hummingbird Console and Patient Interface Module (PIM) plus single-use disposable catheters, generating revenue through capital equipment sales combined with recurring per-procedure catheter sales (razor-and-blade).

The company targets hospital cardiac catheterization laboratories and interventional cardiologists performing complex percutaneous coronary interventions (PCI), addressing use cases such as large ostial lesions, calcified lesions, in-stent restenosis, and thrombotic lesions where single-modality imaging is insufficient. Conavi operates an enterprise field sales motion with a direct hospital sales model and a website-based priority-list evaluation program for prospective customers. The Novasight Hybrid System has obtained regulatory clearance in three major markets: United States (FDA 510(k) K172258), Canada (Health Canada license 102500), and Japan (PMDA licenses 30200BZX00040000 and 30200BZX00039000). Conavi Medical became a public company via an October 2024 reverse takeover business combination with Titan Medical Inc., which previously focused on robotic surgical technologies under a development and licensing arrangement with Medtronic; the combined entity is now advancing an FDA submission for U.S. market launch and developing a next-generation Novasight Hybrid system with funding support from the Ontario Life Sciences Scale-Up Fund.

Name

Conavi Medical (formerly Titan Medical)

Legal name

Conavi Medical Inc.

Website

https://conavi.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

51–100 employees

Short description

Conavi Medical (formerly Titan Medical) is a Toronto-based medical device company that develops the Novasight Hybrid System, which combines co-registered IVUS and OCT imaging on a single console for intravascular imaging during minimally invasive cardiovascular procedures.

Ownership category

akta.pro rank

Product category

Intravascular Imaging / Interventional Cardiology Medical Devices

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Surgical and Medical Instrument Manufacturing (339112), Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (33451)

SIC

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

akta.pro primary industry

Interventional Cardiology (PCI/Structural Heart) (HLAKABAB)

akta.pro secondary industry

Surgical Navigation, Robotics & Patient-Matched Instrumentation (Ortho/Spine) (HLAHAEAL)

Keywords

• Intravascular imaging systems
• Hybrid IVUS OCT imaging
• Interventional cardiology devices
• Percutaneous coronary intervention
• Coronary imaging catheters

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Capital Equipment Sales (Hummingbird Console): Sale of the Hummingbird Console and Patient Interface Module (PIM) as capital equipment to hospitals and cardiac catheterization labs. Single console replaces the need for separate IVUS and OCT systems.
2. Single-Use Catheter Sales: Recurring revenue from disposable Novasight Hybrid Catheters used during each PCI procedure. Each catheter is single-use only and must be repurchased for every case.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Conavi Medical designs, manufactures, and commercializes the Novasight Hybrid System, an intravascular imaging platform that combines co-registered IVUS (intravascular ultrasound) and OCT (optical coherence tomography) on a single console for image-guided percutaneous coronary interventions. The offering comprises the Hummingbird Console and Patient Interface Module (PIM) sold as capital equipment, plus single-use disposable IVUS+OCT hybrid catheters consumed per procedure, sold to hospitals and cardiac catheterization laboratories.

Product overview

Conavi Medical offers a single unified medical device product: the Novasight Hybrid System, which combines co-registered IVUS and OCT imaging technologies on a single console. This hybrid approach provides complementary information from both imaging modalities—IVUS offers imaging depth and visualization of vessel walls while OCT provides high-resolution images of the lumen boundary. The system is designed for complex PCI (percutaneous coronary intervention) procedures and includes the Hummingbird Console, Novasight Hybrid PIM, and single-use IVUS OCT catheters. The company has regulatory clearance for the system in the United States (FDA 510(k)), Canada (Health Canada), and Japan (PMDA).

Differentiator

Problem solved

Functional benefit

Products and services

• Novasight Hybrid System Intravascular imaging system for coronary arteries that combines co-registered IVUS and OCT imaging on a single console (Hummingbird Console) with a Patient Interface Module (PIM) and single-use IVUS+OCT catheters. Indicated for intravascular imaging of coronary arteries in patients who are candidates for transluminal interventional procedures, and intended for interventional cardiologists and hospital cardiac catheterization laboratories performing complex PCI including ostial, calcified, in-stent restenotic, and thrombotic lesions.

Quantifiable outcome

• Fast IVUS pullback speeds up to 25mm/s (100fps), faster than other IVUS systems
• +3 more outcomes

Segments3 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

One partnership is on record.

• MedtroniccoreStrategic or Co-development Partner · 26 January 2022Titan Medical (now Conavi Medical) previously collaborated with Medtronic on development and commercialization of robotic surgical technologies including the Enos robotic single-port surgery system. The collaboration involved licensing and development milestones, with Conavi receiving a final milestone payment of $8.3 million from Medtronic upon achievement of development milestones. The partnership was a significant strategic relationship for the company's former surgical robotics business.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• HeartFlow: HeartFlow provides non-invasive coronary imaging (FFR-CT) used in PCI planning and post-procedure assessment. It is not a direct intravascular catheter competitor but addresses the same interventional cardiology decision-making workflow, making it a thematically comparable emerging player.
• OpSens Medical: OpSens (now part of Haemonetics) developed the OptoWire and SavvyWire FFR/pressure guidewire platforms, and has historically explored optical-based intravascular sensing. It is a smaller, Canada-based cardiovascular device peer with overlap in intravascular measurement technology.

Direct peers

• Infraredx (Nipro): Infraredx (acquired by Nipro) developed the TVC Imaging System combining IVUS with near-infrared spectroscopy (NIRS) for plaque characterization — the closest historical analog to Conavi's hybrid dual-modality concept, though targeting different lesion characterization data.
• ACIST Medical Systems: ACIST Medical Systems (a Bracco group company) provides the HDi IVUS system and the Kodama intravascular imaging platform used in PCI. It competes with Conavi in the coronary IVUS imaging niche with a smaller commercial footprint than Abbott or Boston Scientific.

Broad incumbents

• Siemens Healthineers: Siemens Healthineers supplies coronary imaging and cath-lab integration platforms across major hospital systems globally. While it does not sell a directly competing IVUS+OCT catheter product, its installed base and cardiology partnerships make it a relevant adjacent incumbent.
• Boston Scientific: Boston Scientific offers the Polaris IVUS system and AVVIGO guidance platform used in coronary PCI. It is a direct competitor to Conavi's IVUS functionality and benefits from deep cath-lab penetration and broad coronary intervention salesforce coverage.
• Terumo: Terumo (through its acquisition of Nipro/Goodman and the OFDI imaging business historically associated with LightLab/St. Jude) has historically competed in intracoronary imaging and remains an adjacent incumbent with significant Japanese cath-lab presence relevant to Conavi's PMDA-cleared market.
• Philips: Philips manufactures the Eagle Eye IVUS catheter and the CORE-enabled iFR/Angio physiology platform used in cath labs. It competes directly with Conavi in the coronary intravascular imaging segment with established clinical evidence and global hospital relationships.
• GE HealthCare: GE HealthCare is a broad incumbent in interventional cardiology imaging, including IVUS-adjacent cath-lab visualization and the Centricity cardiology informatics ecosystem. It represents a potential strategic acquirer of hybrid imaging technology and an indirect competitor through hospital system integration.
• Abbott: Abbott is the dominant player in intravascular imaging through its OPTIS OCT system and ILUMIEN platform, plus IVUS offerings. It directly competes with Conavi's hybrid IVUS+OCT approach in coronary imaging and has a far larger installed base, clinical-evidence portfolio, and field-sales organization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/conaviceo

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds26 records

Investors5 records

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 Conavi Medical (formerly Titan Medical)