Acutus Medical, Inc. President and CEO Vince Burgess
By Jarrett Banks
Acutus Medical, Inc. (Nasdaq: AFIB), which focuses on electrophysiology, recently closed its initial public offering, becoming the latest biotech company to do so. But earlier this year, the Carlsbad, Cal.-based company had to get creative when the Covid-19 pandemic shut off its access to hospitals and Zoom meetings became the norm.
In an interview with IPO Edge, Chief Executive Officer Vince Burgess said although the pandemic created several challenges, the company was able to use the time to engage and educate. The full interview is below:
IPO Edge: How does Acutus differentiate itself from competitors?
Acutus is the only pure play electrophysiology company with an expansive and growing product portfolio focused on making EP procedures better, safer and faster. Acutus’ advanced cardiac imaging and mapping system is unique in the market, providing real-time arrhythmia visualization that displays the heart’s true activation pattern, turning the chaos of a complex arrhythmia into a clear vision for electrophysiologists.
IPO Edge: What are your post-IPO plans?
We remain focused on advancing the field of electrophysiology to help physicians access technology that improve outcomes and efficiency.
IPO Edge: Can you talk about the technology behind AcQMap?
Acutus’ AcQMap System consists of the AcQMap catheter, console and workstation. Unlike catheters that poke and prod the wall of the heart, Acutus’ innovative mapping catheter collects the data required to create a comprehensive map of the cardiac anatomy as well as electrical propagation patterns and pathways without contacting the chamber wall. These biopotential data points are then analyzed by Acutus’ proprietary software algorithms that can collectively map any type of atrial arrhythmia in three minutes or less.
IPO Edge: How has the company handled the pandemic?
We observed significant adverse impacts from the COVID-19 pandemic early as hospital access across the country was restricted, and electrophysiology procedural activity dropped well below historical operating levels. While the pandemic created a challenging environment, we knew how to be creative and use the time to engage and educate.
We scheduled Zoom meetings, educational webinars and virtual demonstrations for physicians. As the quarter progressed, we were able to regain access to most hospitals, and procedural levels increased as hospitals reverted to more normalized activities.
IPO Edge: How do you see healthcare evolving post-Covid?
We don’t have a crystal ball, but we have learned a lot about our physician and hospital partners’ needs during the COVID crisis. More than ever before, we recognize and appreciate the importance of partnerships – working together to ensure patients have access to continuity of care and optimal outcomes even during difficult, uncertain times. This necessity forced a focus on leveraging technology to create new norms. We expect the emphasis on technology and telehealth that supports efficient and effective care will continue.
IPO Edge: Do you see any tie-ups with wearable applications for arrhythmias?
We recognize immense value for patients in early identification of cardiac arrythmias. Wearable technology can help alert patients to potential concerns and ultimately help physicians diagnose and treat more patients.
IPO Edge: How has the company evolved since you took over as CEO?
Acutus has moved from an early development stage organization to a full commercial entity with an extensive product portfolio. We’ve focused on helping physicians and hospitals improve outcomes and efficiently treat more patients around the world. We’ve also prioritized clinical data that demonstrates the need for advanced technology and the benefits of the AcQMap system. We have unique, game-changing technology, and we’re committed to driving positive change.