Medistim

What Medistim does

Medistim ASA is a Norwegian medical device company that develops, manufactures, services, leases, and distributes intraoperative quality assessment systems for cardiovascular surgery. Founded in 1984 and headquartered in Oslo (Økernveien 94), the company operates as a publicly listed entity on the Oslo Stock Exchange under ticker MEDI and maintains a wholly owned Japanese subsidiary, Medistim Japan K.K. (Minato-ku, Tokyo). Its portfolio targets three surgical personas: cardiac surgeons (CABG, epiaortic and epicardial imaging, graft verification), vascular surgeons (peripheral bypass, carotid endarterectomy, AV access), and transplant surgeons (liver and renal graft perfusion assessment).

The company's technology stack combines Transit Time Flow Measurement (TTFM) with High-Frequency Ultrasound Imaging (HFUS) in integrated platforms marketed under the MiraQ brand. Product variants include MiraQ Cardiac (with the INTUI software platform), MiraQ Vascular, and MiraQ Ultimate (combined cardiac and vascular), supported by a modular architecture that allows flow-only delivery with on-site imaging upgrades. Probe accessories include the L15 high-frequency ultrasound probe (128-element transducer, up to 18 MHz, 1-7 mm near-field resolution, Risk Class III for direct cardiac tissue contact), QuickFit (PS Series) and Vascular (PV Series) TTFM probes, and a Doppler probe. The system integrates with PACS via DICOM, plus ECG/AUX and pressure monitoring, and the EduQ platform provides online surgeon training. Clinical evidence is anchored by the REQUEST multicenter registry (1,016 CABG patients across 7 centers in Europe, USA, and Canada) and the CIDAC study, with technology endorsed by EACTS/ESC, NICE, ASE/EACVI, ESVS, SVS, WFVS, DGG, ILTS, and EAU guidelines.

Medistim's revenue model is built on direct enterprise sales of MiraQ capital systems and probe accessories to hospitals and surgical centers, with pricing conducted via quote-based transactions that are not publicly disclosed. Go-to-market relies on field sales representatives, Clinical Application Specialists, education-led demand generation (EduQ, webinars), and active participation in specialty conferences such as ISMICS and ICC. The customer segments are diversified across cardiac, vascular, and transplant surgery departments, with named users including Mount Sinai, Washington DC VA Medical Center, Johanniter-Krankenhaus, and Klinikum rechts der Isar.

Name

Medistim

Legal name

Medistim ASA

Website

https://medistim.com

Company type

Public

Founded year

1984

Operating status

Operating

Headcount range

101–250 employees

Short description

Medistim ASA develops and sells intraoperative medical devices for cardiovascular surgery, combining Transit Time Flow Measurement (TTFM) and high-frequency ultrasound imaging into integrated MiraQ systems sold to cardiac, vascular, and transplant surgeons in hospitals globally.

Ownership category

akta.pro rank

Product category

Surgical Intraoperative Imaging and Flow Measurement Systems

NAICS

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

SIC

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

akta.pro primary industry

Interventional Radiology & Image-Guided Therapy Systems (HLAHABAG)

akta.pro secondary industry

Hemodynamic Monitoring & Cardiac Diagnostics (Cath Lab, FFR/IVUS/OCT) (HLAHAFAI)

Keywords

• Cardiac surgery equipment
• Vascular surgery devices
• Transit time flowmetry
• Intraoperative ultrasound imaging
• Surgical quality assessment

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Medical Device Systems: Sale of MiraQ cardiac, vascular, and ultimate surgical systems. Systems can be delivered as 'Flow only' or with imaging capabilities, with modular upgrades available. Sold directly to hospitals and surgical centers through enterprise sales.
2. Surgical Probes and Consumables: TTFM probes (QuickFit and Vascular series), ultrasound imaging probes, and Doppler probes. Probes are described as reusable and sterilizable, suggesting a capital equipment accessories model rather than pure consumables.
3. Training and Support Services: Online training through Clinical Application Specialists, EduQ learning platform, and customer support services.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Medistim develops, manufactures, sells, and services intraoperative medical device systems that combine proprietary Transit Time Flow Measurement (TTFM) with high-frequency ultrasound imaging (HFUS) for cardiac, vascular, and transplant surgery. The MiraQ platform (Cardiac, Vascular, and Ultimate variants) enables surgeons to quantitatively assess blood flow and visualize graft/anastomosis quality in real time during surgical procedures, supported by a portfolio of reusable and sterilizable probes (L15 imaging probe, QuickFit and Vascular TTFM probes, Doppler probe) and the EduQ online learning platform for clinical training and certification.

Product overview

Medistim offers a portfolio of surgical quality assessment systems built around its proprietary Transit Time Flow Measurement (TTFM) and high-frequency ultrasound imaging (HFUS) technologies. The product line centers on three MiraQ systems: MiraQ Cardiac (cardiac surgery), MiraQ Vascular (vascular/transplant surgery), and MiraQ Ultimate (combined cardiac and vascular capabilities). All three MiraQ systems share a modular architecture—they can be delivered as flow-only systems and upgraded on-site with an imaging module. The product portfolio also includes specialized probes (L15 imaging probe, QuickFit TTFM probes, Vascular TTFM probes, and Doppler probes) that connect to the MiraQ systems, plus the EduQ online learning platform for surgical training and certification. The key differentiator is the integration of TTFM (for quantitative blood flow measurement) and HFUS (for spatial visualization) in a single surgical system, supported by guidelines endorsements from major cardiac and vascular societies.

Differentiator

Problem solved

Functional benefit

Brands

• MiraQ: Intraoperative system combining ultrasound imaging and transit time flow measurement (TTFM) for cardiac, vascular, and transplant surgery
• MiraQ Cardiac
• MiraQ Vascular
• MiraQ Ultimate
• QuickFit TTFM Probes
• Vascular TTFM Probes
• EduQ
• REQUEST Study
• INTUI
• VeriQC

Products and services

• MiraQ Cardiac A cardiac surgery system that combines high-frequency ultrasound imaging (HFUS) and transit time flow measurement (TTFM) in a single platform. Designed for cardiac surgery applications including epicardial imaging, epiaortic imaging, and real-time graft verification during CABG procedures. Includes the INTUI software platform for surgical workflow and decision support.
• MiraQ Vascular

Quantifiable outcome

• 25% of CABG patients had surgical plan changed based on TTFM and HFUS findings (REQUEST study)
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability4 records

Feature7 records

Partnerships

Five partnerships are on record, tiered supporting and core.

• ERAS (Enhanced Recovery After Surgery)supportingGTM or Marketing PartnerMedistim supports ERAS initiatives for cardiac surgery, aligning with enhanced recovery protocols that emphasize quality assessment and evidence-based surgical practices.
• Women's Thoracic Surgery (WTS)supportingGTM or Marketing PartnerPartnership with Women's Thoracic Surgery organization supporting women in cardiothoracic surgery specialties.
• ROMA-Women TrialsupportingStrategic or Co-development PartnerCollaboration with the ROMA-Women clinical trial focused on outcomes in women's cardiac surgery.
• Thorax Erasmus MC, Rotterdam (REQUEST Study)coreStrategic or Co-development PartnerCoordinating center for the REQUEST study (Registry for Quality Assessment with Ultrasound Imaging and TTFM in Cardiac Surgery). Initially led by Professor Pieter Kappetein.
• University of Oxford (REQUEST Study)coreStrategic or Co-development PartnerCoordinating Investigator Professor David Taggart led the REQUEST study from University of Oxford. Contributed key expertise in surgical quality assessment in CABG.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Emerging players

• Butterfly Network: Butterfly Network's handheld, semiconductor-based ultrasound probe targets point-of-care and emerging procedural use cases; while not a direct surgical competitor today, its low-cost, AI-enabled approach could pressure intraoperative ultrasound economics over time.

Direct peers

• FUJIFILM SonoSite: SonoSite manufactures portable and point-of-care ultrasound systems used in surgical and critical care settings, competing with the imaging side of Medistim's MiraQ platform in intraoperative ultrasound visualization.
• Transonic Systems: Transonic is the most direct competitor in transit-time flow measurement for surgical and research applications, offering perivascular flow probes and flowmeters that overlap directly with Medistim's TTFM product line.

Broad incumbents

• GE HealthCare: GE HealthCare's ultrasound division (including former BK Medical) provides intraoperative imaging used in surgery, and as a diversified incumbent could bundle flow measurement into its consoles, posing an indirect competitive threat to Medistim's integrated offering.
• Philips: Philips offers intraoperative and cardiac ultrasound systems (e.g., EPIQ series) used in surgical environments; its broad portfolio and global distribution make it a scaled competitor for hospital imaging budgets that Medistim also targets.
• Siemens Healthineers: Siemens Healthineers provides advanced ultrasound and image-guided therapy systems, including intraoperative solutions, and competes with Medistim for surgical imaging capital equipment placements in large hospital systems.
• Hitachi (FUJIFILM Healthcare): Hitachi's ultrasound business (now part of FUJIFILM Healthcare) includes systems used in surgical and vascular imaging, making it another broad incumbent in the intraoperative ultrasound space where Medistim competes.
• Canon Medical Systems: Canon Medical (including the former Toshiba ultrasound line) offers diagnostic and intraoperative ultrasound systems, providing another diversified incumbent competing for hospital imaging capital budgets.
• Mindray: Mindray is a large, cost-competitive ultrasound and patient monitoring manufacturer with growing presence in surgical and vascular imaging, representing a price-disciplined incumbent alternative to Medistim's specialty systems.

Regional players

• Penumbra: Penumbra is a vascular-focused medical device company with peripheral and cardiac thrombectomy products, making it a comparable vascular surgery-adjacent peer in the same hospital cath lab and surgical workflows where MiraQ Vascular is sold.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/medistim

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

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 Medistim