iRadimed (IRMD)

Its core product area addresses a specific challenge in hospitals and imaging centers: delivering medications, fluids, or sedation to patients while they are inside or near an MRI scanner. Standard infusion pumps often contain magnetic components and can be unsafe in the MRI suite. iRadimed’s non-magnetic pump technology is built to operate safely in that setting, helping clinicians maintain therapy during scans without moving patients away from the scanner.

The company also offers MRI-compatible patient monitoring systems, which are used to track vital signs such as ECG, oxygen saturation, blood pressure, and other parameters during MRI procedures. These systems are particularly relevant for patients who are sedated, critically ill, pediatric, or otherwise require continuous monitoring during imaging.

iRadimed sells primarily to hospitals and acute care facilities, with the United States accounting for most of its revenue. Its business model combines capital equipment sales with recurring revenue from accessories, disposables, service, and upgrades. The company operates in a specialized segment of the broader medical device market, where product reliability, regulatory clearance, clinical workflow integration, and MRI safety standards are central to customer adoption.