Initio Medical Group

What Initio Medical Group does

Initio Medical Group is a privately held, physician-led nuclear medicine services company headquartered in Burnaby, British Columbia, operating since 2000 as Western Canada's only private PET/CT facility. The company delivers a unified portfolio of diagnostic and therapeutic radiopharmaceutical services, including FDG, DOTATATE, and Gallium-68 PSMA PET/CT imaging, Neuraceq brain PET, cardiac PET, and more recently Lutetium-177 PSMA targeted radiation therapy for metastatic castrate-resistant prostate cancer. All services are delivered at the single Burnaby clinic on a fee-for-service, patient-pay basis, supplemented by physician interpretation billing and clinical research scan services for external trials.

The underlying technology stack is built around combined PET/CT imaging hardware paired with a series of radiotracers (FDG, 68Ga-DOTATATE, 68Ga-PSMA, Lu-177-PSMA-617) and CNSC-regulated radiopharmaceutical handling. Diagnostic services are priced on a per-scan unit basis ranging from $999 CAD (whole body, brain, cardiac PET/CT) to $3,999 CAD (Neuraceq brain), while Lu-177 PSMA therapy is priced on a multi-session course basis with no publicly listed rate. The company holds the first FDG license issued in Canada (2000) and maintains DAP and CNSC accreditation.

The go-to-market model is sales-led and referral-driven: patients must be referred by a physician or nurse practitioner via PDF requisition forms processed through a Viztek-powered physician portal, with administrative staff handling scheduling. Distribution is direct at the Burnaby clinic for Canadian patients, and the company has extended reach to international patients for Lu-177 PSMA therapy via free language interpreter services. Operational ownership appears bootstrapped with no disclosed external funding, and the company is led by dual-certified specialists with cross-appointments at the University of British Columbia and partnerships with Lions Gate Hospital and major radiopharmaceutical distributors (Isologic, Telix Pharmaceuticals).

Name

Initio Medical Group

Website

https://initiomedical.ca

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

1–10 employees

Short description

Initio Medical Group is a privately held, physician-led nuclear medicine clinic in Burnaby, BC, operating Western Canada's only private PET/CT facility, providing diagnostic imaging and Lu-177 PSMA therapy to Canadian and international patients on a referral basis.

Ownership category

akta.pro rank

Product category

Nuclear Medicine and PET/CT Diagnostic Imaging

NAICS

Diagnostic Imaging Centers (621512), Offices of Physicians (62111)

SIC

Services-Specialty Outpatient Facilities, Nec (8093), Services-Offices & Clinics Of Doctors Of Medicine (8011)

akta.pro primary industry

Advanced Imaging & Specialty Radiology Centers (PET/CT, Nuclear Medicine, Interventional Radiology) (HLAFAKAB)

akta.pro secondary industries

Nuclear Medicine Clinical Services & Therapy Centers (HLAIAGAI), Therapeutic Radiopharmaceuticals (Radioligand/Targeted Radionuclide Therapy) (HLAIAGAB), Nuclear Medicine & Molecular Imaging (SPECT/PET) (HLAHABAE)

Keywords

• Nuclear medicine services
• PET/CT imaging
• Cancer diagnostics
• Radiopharmaceutical therapy
• Theranostics clinic

Headquarters

HQ city

Burnaby

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Diagnostic PET/CT Imaging Services: Fee-for-service diagnostic imaging including PET/CT whole body scans, brain scans, cardiac scans, and specialized scans (DOTATATE, PSMA) at various price points ranging from $999 to $3,200.
2. Lu-177 PSMA Therapeutic Treatment: Targeted radiation therapy for metastatic castrate resistant prostate cancer. Treatment involves 4-5 sessions on average with maximum of 6 doses. Pricing available upon contact.
3. Medical Services Billing: Professional interpretation of scans by nuclear medicine physicians and radiologists. Billing through standard medical services channels.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Initio Medical Group operates Western Canada's only private nuclear medicine facility, providing PET/CT diagnostic imaging (whole body, brain, cardiac, DOTATATE, FDG, PSMA scans) and Lu-177 PSMA targeted radiation therapy for metastatic castrate-resistant prostate cancer. Services are delivered at a single Burnaby, BC clinic on a fee-for-service basis with no wait list, serving both physician-referred patients and direct Canadian and international patients.

Product overview

INITIO Medical Group operates as Western Canada's only private nuclear medicine facility offering a unified portfolio of diagnostic imaging and therapeutic services. The core offerings center on PET/CT scanning technologies across multiple applications: whole body, cardiac, brain, and organ-specific scans (DOTATATE for neuroendocrine cancer, PSMA for prostate cancer, FDG for general oncology). The company complements its diagnostic portfolio with Lu-177 PSMA therapy for metastatic castrate-resistant prostate cancer treatment. A physician portal enables referring doctors to access patient results. All services are provided at the Burnaby, BC facility with no wait list, targeting Canadian and international patients seeking rapid access to advanced nuclear medicine diagnostics and targeted radiotherapy.

Differentiator

Problem solved

Functional benefit

Products and services

• PET/CT Whole & Total Body Scans Comprehensive PET/CT imaging from base of skull to mid-thigh (or full head-to-toe for certain skin cancers) used for cancer detection, staging, and treatment monitoring. Priced at $999 CAD.
• PET/CT Brain Scan Specialized brain PET/CT imaging for diagnosis and monitoring of dementia, cognitive impairment, traumatic brain injury, and epilepsy. Priced at $999 CAD.
• PET/CT Cardiac Scan Cardiac PET/CT imaging for diagnosis and monitoring of cardiac sarcoidosis and other heart conditions. Priced at $999 CAD.
• PET/CT DOTATATE Scan DOTATATE PET/CT scanning using Ga-68 DOTATATE tracer for diagnosis and treatment planning of neuroendocrine tumors. Priced at $2,999 CAD.
• FDG PET/CT Scan Standard fluorodeoxyglucose (FDG) PET/CT scan using radioactive sugar tracer to detect cancer cells based on higher glucose metabolism than normal cells. Core diagnostic service.
• PSMA PET/CT Scan (Gallium-68 PSMA) Gallium-68 PSMA PET/CT scan for prostate cancer imaging using Illuccix radiopharmaceutical to detect prostate-specific membrane antigen (PSMA) positive lesions. Priced at $3,200 CAD.
• Lu-177 PSMA Therapy Lutetium-177 PSMA targeted radiation therapy for metastatic castrate-resistant prostate cancer (mCRPC). Uses radioactive Lu-177 attached to PSMA protein to deliver radiation directly to cancer cells. Typically 4-5 sessions (maximum 6). Pricing available upon contact.
• Neuraceq Brain PET Scan Specialized brain PET scan using Neuraceq tracer for amyloid plaque imaging, used in evaluation of Alzheimer's disease and cognitive disorders. Priced at $3,999 CAD.

Quantifiable outcome

• PET/CT scan changed treatment direction in 50% of cases (Canadian study by Worsley et al.)
• +2 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Isologic Innovative RadiopharmaceuticalscoreChannel Partner/ Reseller/ Distributor · 1 May 2023Isologic is INITIO's radiopharmaceutical distribution partner for Illuccix (gallium-68 PSMA-11) in Canada. Isologic is a Canadian radiopharmaceutical company and the leading Canadian manufacturer of positron-emitting radiopharmaceuticals (PERs). They service 265 hospitals and clinics nationwide through their network in Dorval, Lachine, Quebec, Toronto, Burlington, Ottawa, and Vancouver.
• Telix Pharmaceuticals LimitedcoreTechnology or Integration · 1 May 2023Telix Pharmaceuticals is the manufacturer of Illuccix (gallium-68 gozetotide/PSMA-11), the first PSMA-PET imaging agent approved in Canada. INITIO became one of the first sites in Canada to administer Illuccix for prostate cancer imaging. Telix is headquartered in Melbourne, Australia with operations in US, Europe, and Japan.
• PayBrightminorGTM or Marketing Partner · 29 March 2023PayBright provides instant financing options for INITIO patients to help manage the cost of PET/CT scans and treatments.
• Lions Gate HospitalcoreStrategic or Co-development PartnerDr. Philip Cohen serves as Division Head, Nuclear Medicine at Lions Gate Hospital in North Vancouver. Dr. Cohen is a pioneer in Nuclear Medicine in Canada and involved in clinical research trials of new radiopharmaceuticals.
• University of British Columbia (UBC)coreStrategic or Co-development PartnerAll of INITIO's physicians were either UBC trained, hold teaching appointments at UBC, or both. INITIO provides scanning and targeted radiotherapy services in clinical trials for multiple malignancies and neurodegenerative disease. Dr. Tarzwell is Clinical Assistant Professor at UBC Faculty of Medicine in Department of Radiology.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Canada Diagnostic Centres: Canadian private multi-modality diagnostic imaging chain (MRI, CT, ultrasound, PET/CT) operating in Western Canada. Closest direct competitor to Initio's PET/CT business with similar physician-referral, cash-and-insurance model in the same geography.
• Docrates Cancer Center: Private cancer clinic in Helsinki, Finland, with nuclear medicine diagnostics and radioligand therapy; affiliated with Prof. Kalevi Kairemo who also advises Initio. Closely comparable integrated theranostics model in a private-pay setting.
• Excel Diagnostics & Nuclear Oncology: US private PET/CT and nuclear oncology center providing diagnostic and therapeutic radiopharmaceutical services. Directly comparable to Initio in offering molecular imaging combined with therapy in a private-pay model.
• BAMF Health: US-based private theranostics clinic combining molecular imaging (PET/CT) with Lu-177 and alpha-emitting radioligand therapies. Directly comparable to Initio's integrated diagnostics-plus-Lu-177 PSMA offering.

Broad incumbents

• Affidea: Large European diagnostic imaging and outpatient services group offering PET/CT, MRI, and CT across multiple countries. Comparable modality mix and private-pay imaging model, but broader portfolio and far larger scale.
• I-MED Radiology Network: Australia's largest private diagnostic imaging network offering PET/CT, MRI, CT, and nuclear medicine. Comparable private-pay outpatient imaging model at much larger scale across multiple sites.

Others

• Hermes Medical Solutions: Vendor of molecular imaging software (Hermia/Hybrid viewer) used in nuclear medicine and theranostics workflows. Ecosystem software peer supporting PET/CT interpretation workflows similar to Initio's.
• Telix Pharmaceuticals: Manufacturer of Illuccix (Ga-68 PSMA-11) and developer of TLX591 (Lu-177 PSMA therapy); Initio is a launch customer and site partner. Strategic supplier and ecosystem participant rather than direct competitor.
• Isologic Innovative Radiopharmaceuticals: Canadian manufacturer of positron-emitting radiopharmaceuticals distributing Illuccix to 265 hospitals/clinics. Direct distribution partner to Initio; comparable upstream radiopharma ecosystem player.

Regional players

• BC Cancer Agency: Provincial public-sector cancer care provider operating multiple centers in British Columbia, including nuclear medicine/PET services. Competes for the same patient population in Western Canada under a publicly funded model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/initiomedical
• Facebookfacebook.com/INITIOMedical
• LinkedInlinkedin.com/company/initio-medical-group

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Initio Medical Group