-13%

est. 2Y upside i

HealthcareSeries B

Rank

#2603

Sector

Healthcare Technology

Est. Liquidity

~5Y

Data Quality

Data: Low

Given the high preference overhang ($21M vs $33.8M valuation), strong competition from EHR incumbents, and lack of disclosed revenue, the equity upside is highly uncertain.

Last updated: July 3, 2026

Bull (10%)+190%

Bull case: Cthesigns achieves 4x valuation ($135M exit) driven by successful FDA approval and expansion into U.S. market, leveraging partnerships with Mayo Clinic and NHS. After preference stack and dilution, common stock sees ~190% upside.

Base (45%)+30%

Base case: Valuation doubles to $67.6M as company grows within existing NHS contracts. After preference and dilution, common upside ~30%.

Bear (45%)-100%

Bear case: Exit value below $21M total funding due to competition from Epic/Oracle or failed regulatory approval, common stock recovers nothing.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

62%

Total funding of $21M represents 62% of current valuation, giving preferred stock a large claim on exit proceeds.

Dilution Risk

high

With $21M raised and 39 employees, additional capital may be needed within 2-3 years, diluting common shareholders by ~20%.

Secondary Liquidity

none

No secondary market activity reported; common stock is illiquid until an exit event.

Questions to Ask at the Interview

Strategic questions based on Cthesigns's data — designed to show you've done your homework.

  • 1

    “How does Cthesigns differentiate from embedded AI in Epic or Oracle Cerner?”

  • 2

    “What is the current revenue run rate and path to profitability?”

  • 3

    “What is the expected timeline to an exit and has the board discussed IPO or acquisition?”

Community

Valuation Sentiment

Our model estimates -13% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.