# CoapTech

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/coaptech

- Industry: Medical Devices & Equipment
- Headquarters: Baltimore, US
- Website: www.coaptech.com
- Total disclosed funding: $9.3M
- Latest round: Series B (Aug 28, 2020)
- Investors on record: 4

## About

CoapTech is a medical technology company specializing in ultrasound-based solutions for bedside gastrostomy tube placement, enhancing procedural safety and efficiency in critical care environments.Founded in 2016 in Baltimore, US, CoapTech has developed the PUMA-G System, an innovative solution for performing percutaneous ultrasound gastrostomy procedures. The company has closed 6 deals, with the most recent funding round being a Grant received on January 27, 2022, from Pennsylvania Pediatric Medical Device Consortium. CoapTech has raised a total of USD 7.000 mn since its inception, with Howard Carolan as CEO, who has a notable history in medical device innovation.CoapTech offers the PUMA-G System, the first FDA-cleared ultrasound-based solution for bedside gastrostomy tube placement. This technology enables physicians to perform percutaneous ultrasound gastrostomy (PUG) procedures safely at the bedside, significantly reducing risks associated with traditional methods. The PUMA-G System is applicable in various healthcare settings, including ICUs and long-term acute care hospitals, and caters primarily to critical care physicians and advanced practice providers trained in ultrasound, facilitating its use across urban and rural healthcare facilities throughout the United States and beyond.CoapTech generates revenue primarily through the sales of the PUMA-G System and associated training programs for healthcare providers. Transactions occur through direct sales to hospitals adopting this technology, with a pricing structure that integrates the PUMA-G system alongside training and implementation services to enhance clinical efficiency. The company's revenue model emphasizes the critical role of its products in improving patient care efficiency and reducing costs associated with hospital stays, aligning with healthcare organizations' operational goals.Looking ahead, CoapTech plans to leverage the recent grant of USD 50,000 received on January 27, 2022, to support the development and launch of new products aimed at enhancing ultrasound-guided procedures. The company is strategizing on expanding its market presence within the United States, targeting both urban and rural healthcare facilities for broader adoption of the PUMA-G System. These initiatives are designed to be implemented in the near future, reflecting CoapTech's commitment to enhancing procedural safety and efficiency in critical care.

## Funding rounds

- Series B, Aug 28, 2020, $7M — Hunniwell Lake Ventures
- Seed, Jul 24, 2018, $2.4M — TCP Venture Capital, Maryland Industrial Partnerships, UM Ventures

## Investors

- TCP Venture Capital (https://capitalatlas.ai/funds/tcp-venture-capital) — Seed
- Maryland Industrial Partnerships — Seed
- UM Ventures (https://capitalatlas.ai/funds/um-ventures) — Seed
- Hunniwell Lake Ventures (https://capitalatlas.ai/funds/hunniwell-lake-ventures) — Series B