CapeRay

What CapeRay does

CapeRay Medical (Pty) Ltd is a privately held South African medical device company founded in 2010 and headquartered in Cape Town. The company develops, manufactures and supplies medical imaging equipment focused on the diagnosis of breast cancer, with a small team of 1-10 employees and the Industrial Development Corporation (IDC) as its anchor investor. CapeRay's flagship product is the Aceso system, a dual-modality breast imaging device that integrates full-field digital mammography (FFDM) and 3D automated breast ultrasound (ABUS) into a single unit, enabling co-registered image acquisition designed to address the clinical problem that standard mammography misses early-stage cancers in dense breast tissue (affecting roughly 40% of women).

Technically, Aceso's differentiators include slot-scanning FFDM technology that lowers radiation dose, an ABUS probe with 90mm penetration depth, breast compression under 50N, and a 10-minute dual-modality acquisition workflow (vs. approximately 30 minutes with separate FFDM and ABUS systems). The technology is protected by granted patents in the UK (2015, 2020) and the US (2017, 2022), and clinical validation has been conducted at the University of Cape Town (2014) and Groote Schuur Hospital (2015), with peer-reviewed publications in Clinical Imaging, Diagnostics, Medical Engineering and Physics, and the South African Medical Journal.

CapeRay operates a direct enterprise sales model, targeting hospitals, diagnostic imaging centers and breast screening facilities. The company is pre-commercial or in early commercialization: it holds ISO 13485:2016 certification (June 2021) but has not yet obtained FDA 510(k) clearance for Aceso. Marketing relies on participation in major medical imaging conferences (RSNA, ECR, Eusobi, Arab Health, Africa Health, Medica), peer-reviewed publications, and an active corporate blog maintained since 2011. Two funding rounds totaling approximately $3 million have been disclosed (2010 and 2015), and revenue figures are not publicly disclosed.

Name

CapeRay

Legal name

CapeRay Medical (Pty) Ltd

Website

https://caperay.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

CapeRay Medical is a Cape Town-based medical device company founded in 2010 that develops the Aceso system, a dual-modality breast imaging device combining mammography and automated ultrasound into a single unit for hospitals and diagnostic centers screening women with dense breast tissue.

Ownership category

akta.pro rank

Product category

Medical Imaging Equipment

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)

SIC

Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Mammography & Breast Imaging Systems (HLAHABAF)

akta.pro secondary industry

X-ray & Fluoroscopy Systems (HLAHABAA)

Keywords

• Breast imaging equipment
• Medical device manufacturing
• Digital mammography systems
• Automated breast ultrasound
• Diagnostic radiology hardware

Headquarters

HQ city

Cape Town

HQ country

South Africa

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Medical Device Sales: CapeRay generates revenue through the sale of its Aceso dual-modality breast imaging system to healthcare facilities, hospitals, and diagnostic centers. As a medical device company still pursuing regulatory clearances (FDA not yet obtained), the company is in pre-commercialization or early commercialization stage.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

CapeRay develops, manufactures, and supplies medical imaging hardware for breast cancer diagnosis. Its single commercial product, the Aceso system, is a dual-modality breast imaging device that combines full-field digital mammography (FFDM) and 3D automated breast ultrasound (ABUS) into one platform, enabling simultaneous co-registered image acquisition in roughly 10 minutes for improved detection in women with dense breast tissue.

Product overview

CapeRay offers a single unified product called Aceso, a dual-modality breast imaging system. The Aceso platform integrates full-field digital mammography (FFDM) and 3D automated breast ultrasound (ABUS) into one device, enabling simultaneous image acquisition with reduced breast compression and lower radiation dose compared to conventional screening equipment.

Differentiator

Problem solved

Functional benefit

Brands

• Aceso: Dual-modality breast imaging system combining full-field digital mammography (FFDM) and automated breast ultrasound (ABUS) for improved cancer detection in dense breast tissue.

Products and services

• Aceso Dual-Modality Breast Imaging System A medical imaging device for hospitals, diagnostic imaging centers, and breast screening facilities that combines full-field digital mammography (FFDM) and 3D automated breast ultrasound (ABUS) into a single platform. It acquires co-registered X-ray and ultrasound images of both breasts in approximately 10 minutes using less than 50N of breast compression and a lower radiation dose, targeting improved cancer detection in women with dense breast tissue.

Quantifiable outcome

• Full set of images acquired in 10 minutes compared to 30 minutes with separate systems
• +3 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Western Cape Medical Devices ConsortiumminorStrategic or Co-development Partner · 1 January 2021CapeRay joined a consortium of local manufacturers to establish a not-for-profit company focused on medical device manufacturing in the Western Cape region.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Hologic: Market leader in mammography (including 3D tomosynthesis) and owner of the leading automated breast ultrasound (ABUS) franchise after acquiring SuperSonic Imagine's ABUS business. Directly competes with CapeRay across both FFDM and ABUS modalities that Aceso integrates.
• Fujifilm Healthcare: Sells digital mammography systems and women's health imaging solutions to hospitals. Comparable as a peer selling FFDM systems into the same breast imaging procurement budgets that CapeRay targets.

Broad incumbents

• GE HealthCare: Sells full-field digital mammography systems, ultrasound platforms, and broader imaging suites to hospitals globally. Comparable as a broad incumbent offering competing mammography and ultrasound modalities that hospitals could instead deploy as separate systems.
• Siemens Healthineers: Major imaging OEM with a mammography portfolio (including tomosynthesis) and a global hospital sales channel. Represents an incumbent substitute for hospitals weighing CapeRay's integrated dual-modality system versus established separate-modality workflows.
• Philips: Offers mammography and broader women's health imaging products within its hospital imaging portfolio. Relevant as a broad incumbent that hospitals may choose instead of a dedicated dual-modality breast system from CapeRay.

Emerging players

• Delphinus Medical Technologies: Developer of SoftVue, a 3D whole-breast ultrasound tomography system intended to supplement mammography for dense breast tissue. Comparable as a niche, emerging alternative modality for the same clinical use case CapeRay addresses.
• Seno Medical Instruments: Developer of optoacoustic imaging systems that combine laser optics and ultrasound for breast lesion characterization. Comparable as an emerging player pursuing non-X-ray or hybrid modalities for improved breast cancer detection.
• QT Imaging: Sells a no-radiation, transmission ultrasound breast imaging system marketed as an alternative to mammography. Comparable as an emerging alternative modality targeting the same dense-breast and screening populations.
• iCAD: Provides AI-based computer-aided detection and breast density assessment software used alongside mammography. Comparable as a complementary/adjacent technology player improving breast imaging diagnostics, though software- rather than hardware-based.
• Volpara Health Technologies: Provider of breast density measurement and reporting software integrated into mammography workflows. Comparable as an adjacent vendor whose products address the same dense-breast clinical decision point that drives Aceso adoption.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/caperay

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors

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 CapeRay