AtriCure

Company purpose

AtriCure develops medical devices for surgical treatments and therapies for atrial fibrillation (Afib), left atrial appendage management (LAAM), and post-operative pain management. Its products are used in open-heart and minimally invasive cardiac/thoracic procedures and for post-operative pain control.

Core product families

• Cardiac tissue ablation (open and minimally invasive)

  • Isolator Synergy Ablation System (RF energy) and clamping platforms with multiple configurations
  • EnCompass clamp (510(k) clearance in 2021; 510(k) clearance for an EnCompass-related configuration in 2022)
  • Multifunctional pens and linear RF ablation devices
  • EPi-Sense Systems (Hybrid AF Therapy; approved for treatment of long-standing persistent Afib when augmented with an endocardial catheter)
  • EPi-Sense ST Guided Coagulation System (PMA supplement clearance in 2022)
  • EPi-Ease (FDA 510(k) clearance in 2024 to facilitate Hybrid access)

• Pain management (Cryo Nerve Block)

  • cryoICE cryoablation system and disposable probes
  • cryoSPHERE probes (temporary nerve ablation for post-operative pain; several generations launched 2024)
  • cryoXT probes (FDA 510(k) clearance in 2025 for amputation pain management; launched in 2025)
  • VANISH Registry for real-world safety and performance data on cryoablation during amputations

• Left atrial appendage management (LAAM)

  • AtriClip LAA Exclusion System (implantable AtriClip device with disposable applier; multiple geometries including rectangular and “V” shapes; CE mark and various country clearances)
  • AtriClip FLEX-Mini (launched in the U.S. in 2024; smallest profile for surgical LAA exclusion)
  • AtriClip PRO-Mini (510(k) clearance in Q1 2025; smallest preloaded implant available)
  • LARIAT System (soft-tissue closure)
  • Lumitip dissector, Glidepath guides, Subtle Cannulas, and reusable cardiac surgery instruments

• Other developments

  • BoxX-NoAF IDE trial exploring prophylactic box lesion ablation with EnCompass plus AtriClip in non-AF patients to reduce post-operative AF
  • LeAAPS IDE trial evaluating prophylactic LAA exclusion in cardiac surgery patients without pre-operative AF
  • HEAL-IST trial evaluating Hybrid Epicardial/Endocardial ablation for IST
  • Cryo Nerve Block applications for thoracic/postoperative pain across cardiothoracic/thoracic surgeries and amputations

Market position and strategy

• Market focus: Afib treatment, stroke risk reduction via LAA exclusion, and post-operative pain management.
• Adoption drivers: evolving Afib guidelines that support surgical and hybrid ablation approaches; emphasis on physician training, clinical evidence, and expanding access through direct and distributor channels.

Customers and scale

• AtriClip LAA exclusion devices have treated more than 750,000 patients.
• Clinical adoption is supported by ongoing training programs and multi-site studies.

Operations and locations

• Headquarters and manufacturing campus: Mason, Ohio
  • Corporate HQ: ~106,000 sq ft
  • Distribution warehouse: ~52,000 sq ft
  • Manufacturing building expanding from ~38,500 sq ft to ~103,500 sq ft
• Additional U.S. facilities:
  • Minnetonka, Minnesota: ~32,000 sq ft
  • Pleasanton, California: ~6,000 sq ft
• European facilities:
  • Amsterdam, Netherlands: ~9,000 sq ft (administration)
  • Hertogenbosch, Netherlands: ~19,000 sq ft (European service)
• The company plans to add facilities as needed to support growth.

People and governance

• Employees: approximately 1,350 as of December 31, 2025
• U.S. sales force: about 330 employees
• International direct sales presence: about 75 employees
• The organization emphasizes training, diversity, equity & inclusion, and talent development; leaders manage human capital, growth, and culture.

Financial snapshot (amounts in thousands USD)

• Net (loss) for the year
  • 2025: $(11,448)
  • 2024: $(44,698)
  • 2023: $(30,438)
• Accumulated deficit: $(413,203) as of December 31, 2025
• Goodwill: $234,781
• Dividends: not anticipated in the foreseeable future

Business model and go-to-market

• Direct sales presence in the United States, Germany, France, United Kingdom, Benelux, Australia, and Canada
• Distributors cover other international markets
• Focus on training, education, and clinical evidence to drive adoption
• Manufacturing primarily in-house in Ohio with third-party sterilization and supplier partners; ISO 13485:2016 certification and MDSAP participation

Risk and regulatory context

• Products are regulated by the FDA and international authorities
• Reimbursement varies by country and payer type
• Ongoing clinical research and registries support evaluation of long-term outcomes and expansion of indications