Gov’t grants + early IPO
Breast screening clinics
2009
Scientific validation
Health tech
Personal and grant funding got Volpara started; in 2014 it raised NZ$5 million to accelerate growth, and in April 2016 it closed an IPO on the ASX raising A$10 million.
Hospitals and radiology clinics adopted Volpara’s breast-density software across more than 30 countries, measuring breast density for millions of women.
Startup Rollercoaster
The Spark
Medical physicist Ralph Highnam leveraged his breast-density research at Oxford University and, with co-founders, launched Volpara Health in 2009, funded initially from personal funds and research grants.
The Peak
Volpara’s science was validated by hospitals and radiology clinics adopting its volumetric breast-density software.
In 2014, the company secured NZ$5 million to accelerate growth. In April 2016, it listed on the Australian Securities Exchange via IPO, raising A$10 million.
The Drop
Meeting rigorous medical-device regulatory requirements required extensive clinical validation, slowing rollout in some markets.
Operating as a public company also introduced higher administrative overheads and heightened investor expectations.
The Reset
Post-IPO, Volpara invested in regulatory compliance, clinical studies, and partnerships with imaging-equipment vendors.
They expanded distribution deals, including with GE Healthcare, to increase sales reach in the US, Europe, and APAC.
The Discipline
The company maintained a science-driven R&D culture, focused on patient outcomes and breast-cancer screening accuracy.
It stayed transparent with investors, reporting publicly on clinical validation, regulatory progress, and technical improvements.
The Climb
Today, Volpara is a publicly listed global provider of breast-imaging software; its IPO enabled expansion into multiple countries.
Its software is installed in more than 30 countries, and the company has broadened its offering and shifted toward a SaaS model while maintaining strong partnerships with clinics and imaging vendors.
Read More
- https://www.volparahealth.com/news/volpara-health-technologies-to-list-on-australian-stock-exchange-asx-after-successfully-closing-ipo/
- https://kindrik.co.nz/case-studies/volpara/
- https://www.volparahealth.com/news/volpara-health-technologies-to-acquire-mrs-systems-inc/
- https://biotechdispatch.com.au/news/volpara-to-list-on-asx-after-successful-ipo/
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