Participated · Equity · Jul 2011

Circle Cardiovascular Imaging develops AI-based cardiac imaging and reporting solutions, including cardiac MRI (CMR) and cardiac CT post-processing software. The company has built a deep portfolio of specialized, accurate and intuitive tools used by physicians to deliver high-quality care. Its solutions are used by thousands of clinical users at hospitals and academic institutions in more than 50 countries. Leadership includes CEO and co-founder Greg Ogrodnick and Chief Design Officer and co-founder Matthias Friedrich. The company said the investment will drive product innovation, extend its market leadership position and fuel future growth. The firm is based in Calgary, Alberta, Canada. Circle develops and markets cardiac MR (CMR) and cardiac CT (CCT) post‑processing software, including its lead products cvi42 and report42. Its software extracts functional parameters, flow and infarction information and presents integrated outputs to improve workflow and diagnostic accuracy. The cvi42 package contains comprehensive, easy‑to‑use modules for standalone and enterprise server configurations. Over 600 sites in 35 countries use Circle’s software to interpret hundreds of thousands of cardiac exams annually. Circle plans to use the proceeds of the recent financing to build on its platform and expand its international commercial footprint, leveraging a Global Licensing and Distribution Agreement with GE Healthcare. BDC Capital and other investors have supported the company and helped connect it to a wider network to accelerate growth. Circle Cardiovascular Imaging is a Calgary-based provider of an advanced cardiovascular imaging software suite that develops third‑party post‑processing software for the cardiac imaging industry. Its first product, cmr42, supplies physicians with tools to diagnose complex cardiovascular diseases. cmr42 is used by hospitals in 16 different countries and has evaluated over 150,000 patients to date. The company plans to further develop its suite and accelerate global commercialization. To support those plans, Circle closed a $3.9M financing led by the venture capital division of the Business Development Bank of Canada. Leadership includes CEO Greg Ogrodnick and CSO Matthias Friedrich, MD.