Cortical Dynamics

What Cortical Dynamics does

Cortical Dynamics Ltd is an Australian neurotechnology company headquartered in Perth, Western Australia, that develops the BARM™ (Brain Anaesthesia Response Monitor), an EEG-based medical device for use in operating theatres. BARM™ uses proprietary ARMA coefficient analysis and pole-location methods derived from a physiological model of brain electrical activity (mean field theory), differentiating it from existing monitoring systems that rely on statistically-based empirical approaches. The system comprises CD BAR forehead/mastoid EEG sensors, a Data Acquisition Module, and a Display Monitor that outputs derived indices including the Cortical State (CS/CI) and Composite Cortical State (CCS) used by anaesthesiologists to monitor hypnosis and antinociception. The company serves hospitals and anaesthesiologists globally, with stated intent to extend into ICU and emergency department monitoring.

The Generation 1 BARM™ has received FDA 510(k), CE Mark, TGA, and Korean MFDS approvals, and the Generation 2 BARM™ is in final development for clinical trials, regulatory submissions, and commercial rollout planned for 2026. Cortical Dynamics generates revenue through hardware sales of BARM™ devices and consumable sensors via a distributor-based go-to-market model — Globaluck in South Korea and Innomed Benelux B.V. in Belgium, the Netherlands, and Luxembourg — and has a non-exclusive integration agreement with Philips Healthcare North America Corp enabling BARM™ to display inside Philips IntelliVue and PIC iX patient monitors via IntelliBridge. The company is publicly listed on the Australian Securities Exchange (ASX), operates with a small team of 1–10 employees, and is led by CEO Ashley Zimpel, Chairman David Breeze, and CTO/Co-Founder Louis Delacretaz.

Name

Cortical Dynamics

Legal name

Cortical Dynamics Ltd

Website

https://corticaldynamics.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

1–10 employees

Short description

Cortical Dynamics is an ASX-listed Australian neurotechnology company that develops the BARM™ EEG-based brain anaesthesia monitor for use by anaesthesiologists in hospital operating theatres, with distribution in South Korea and Benelux and planned expansion into ICU and ER settings.

Ownership category

akta.pro rank

Product category

Brain Monitoring Devices

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (33451)

SIC

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

akta.pro primary industry

Neurological Monitoring (EEG, Seizure/Sleep/Neuro Wearables) (HLAHACAE)

akta.pro secondary industries

SaMD – Imaging & Signal Analysis (AI/ML) (HLACANAG), Anesthesia & Airway Management Equipment (Workstations, Laryngoscopy, Ventilation adjuncts) (HLAHADAJ)

Keywords

• Medical brain monitoring
• EEG anaesthesia monitoring
• Depth of anaesthesia devices
• Patient monitoring systems
• Neurotechnology medical devices

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. BARM Hardware Sales: Sale of BARM™ medical brain monitoring devices and associated sensors to hospitals and healthcare facilities through distribution network.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Cortical Dynamics develops and sells the BARM™ (Brain Anaesthesia Response Monitor), an EEG-based medical brain monitoring system used by anaesthesiologists in the operating theatre to detect the effect of anaesthetic agents on a patient's brain activities. The system uses proprietary algorithms based on physiological principles (mean field theory) rather than statistical/empirical approaches, and comprises CD BAR sensors, a data acquisition module, and a display monitor that output derived indices (CCS and CI) for titrating anaesthetic and analgesic delivery.

Product overview

Cortical Dynamics offers a unified medical brain monitoring system centred on BARM™ (Brain Anaesthesia Response Monitor). The product line includes the Generation 1 BARM™ (FDA 510(k), CE, TGA, and Korean MFDS approved) and the Generation 2 BARM™ G2 (in development for 2026 commercial rollout). The system comprises CD BAR sensors (EEG collection from forehead and mastoid), the BARM™ Data Acquisition Module (signal processing), and the BARM™ Display Monitor (waveforms, indexes, and graphs). Software outputs include the BARM™ Sedation Index, CCS Index (monitoring hypnosis), and CI Index (monitoring analgesia/antinociception). BARM™ integrates with Philips IntelliVue and PIC iX monitoring systems via IntelliBridge. The company also provides AI-based Apps and is targeting ICU and ER expansion in addition to operating theatre use.

Differentiator

Problem solved

Functional benefit

Brands

• BARM™: Brain Anaesthesia Response Monitor - next generation medical brain monitoring system used by anaesthesiologists in the operating theatre. The only system with methods based on a model of brain electrical activity derived from physiological principles.

Products and services

• BARM™ (Brain Anaesthesia Response Monitor) Medical brain monitoring system used by anaesthesiologists in operating theatres that quantifies and continuously monitors a patient's anaesthetic state using proprietary ARMA-coefficient algorithms derived from physiological principles (mean field theory). The system includes CD BAR EEG sensors (forehead and mastoid), a Data Acquisition Module, and a Display Monitor that output waveforms and indices (CCS, CI) to help anaesthetists keep patients optimally medicated and titrate anaesthetic and analgesic delivery. For hospital anaesthesia departments and anaesthesiologists.

Quantifiable outcome

• ERAS programs can reduce patients' consumption and reliance on opioids by 60%
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability3 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core.

• Philips Healthcare North America CorpcoreTechnology or IntegrationNon-exclusive Licence and Cooperation Agreement enabling Cortical to interface BARM into Philips IntelliVue and Patient Information Center (PIC iX) Monitoring Systems using the IntelliBridge integration product line. This integration allows BARM data to be displayed within Philips' established patient monitoring ecosystem.
• Globaluck S. KoreacoreChannel Partner/ Reseller/ DistributorAppointed South Korean distributor for BARM. Agreement covers distribution to hospitals across Korea, assisting anaesthetists and intensive care staff to monitor patients under anaesthesia and minimize incidence of side effects.
• Innomed Benelux B.VcoreChannel Partner/ Reseller/ DistributorAppointed Benelux region (Belgium, Netherlands, Luxembourg) distributor for BARM medical brain monitoring system.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Medtronic (BIS – Bispectral Index): Medtronic's BIS is the dominant EEG-based depth-of-anaesthesia monitor used by anaesthesiologists in the operating theatre — the same buyer, same use case, and same core technology category as BARM.
• Masimo (SedLine / Root platform): Masimo's SedLine brain-function monitoring and Root patient-monitoring platform directly compete with BARM in providing EEG-based anaesthesia depth monitoring to hospitals and anaesthesiologists.

Broad incumbents

• GE Healthcare (Nerventracker / EEG): GE Healthcare offers EEG-based depth-of-anaesthesia and patient-monitoring solutions as part of a much broader perioperative and ICU portfolio, competing with BARM within hospital integrated monitoring contracts.
• Nihon Kohden: Nihon Kohden manufactures clinical EEG and anaesthesia-depth monitoring systems sold to hospitals globally, overlapping with BARM in EEG-based brain monitoring for surgical and critical-care use.

Regional players

• Compumedics: An Australian-headquartered peer developing EEG, sleep-diagnostic and brain-monitoring instrumentation — same geography, same underlying EEG technology stack, and adjacent end-customers.

Emerging players

• BrainScope: BrainScope applies EEG-based algorithms to objective brain assessment (e.g., mild TBI), sharing Cortical Dynamics' EEG signal-processing heritage while targeting emergency-department use cases BARM plans to enter.
• Advanced Brain Monitoring: ABM develops EEG-based sleep and brain-function monitoring systems, overlapping with BARM in the use of quantitative EEG indices to characterize brain state in clinical and research settings.
• Wave Neuroscience: Wave Neuroscience uses quantitative EEG analysis for personalised neurostimulation treatment planning — adjacent algorithmic EEG approach to Cortical Dynamics' ARMA-based cortical-state methodology.

Others

• Nonin Medical: Nonin specialises in cerebral and tissue oximetry sensors used in anaesthesia and critical care — an adjacent patient-monitoring modality that shares BARM's hospital perioperative buyer but addresses different physiology.
• Philips Healthcare: Philips is both BARM's integration partner (IntelliVue / PIC iX via IntelliBridge) and a broader patient-monitoring incumbent; the relationship is symbiotic but also gives Philips leverage and visibility into the EEG brain-monitoring space Cortical Dynamics targets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/CorticalDynamicsLtd
• LinkedInlinkedin.com/company/cortical-dynamics-limited

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

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 Cortical Dynamics