UltraGreen.ai ready to recalibrate US medical dye strategy

The company’s response will hinge on its rivals’ pricing, distribution, and customer offer.

UltraGreen.ai is prepared to adjust its commercial strategy as new competitors enter the US indocyanine green (ICG) market, with its response to depend on rivals’ pricing, distribution approach, and customer proposition.

ICG is a fluorescent medical dye used in diagnostic imaging and surgical procedures to help visualise blood flow and tissue.

CEO Ravinder Sajwan said in a filing that the company would determine its response once the commercial plans of new entrants become clearer.

“We believe it would be premature to speculate on their potential market impact or the specific actions UltraGreen may take in response,” he added.

The comments come as recent US regulatory approvals secured by new entrants have raised concerns among shareholders.

However, Sajwan noted that US Food and Drug Administration approval does not necessarily indicate a commercial launch, customer adoption, or market penetration.

“UltraGreen may be a relatively young public company, but we have been operating in the fluorescence-guided surgery for more than a decade,” he said.

Separately, the company is expanding beyond ICG through PerfusionWorks, which adds quantification and data capabilities to its fluorescence-guided surgery platform.

PerfusionWorks has completed its European Medical Device Regulation conformity assessment and is awaiting formal CE certification.

UltraGreen plans to pursue US FDA clearance for the platform after receiving the European certification.

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