Modular Medical (NASDAQ:MODD) (Nasdaq:MODD) is a medical technology company specializing in precision biopsy needle guidance systems designed to improve cancer diagnostic workflows. The company develops, manufactures and markets single-use needle guide kits that integrate with existing imaging modalities such as magnetic resonance imaging (MRI) and ultrasound to enhance targeting accuracy for prostate and other soft-tissue biopsies. By focusing on consumable, disposable products, Modular Medical aims to simplify procedural setup and reduce cross-contamination risks in hospital and outpatient settings.
The flagship product line includes MRI- and ultrasound-compatible needle guide kits featuring proprietary alignment mechanisms that streamline core needle biopsies. These sterile, single-use devices are offered in a range of configurations to support transperineal and transrectal approaches, and are compatible with both in-bore and fusion-guided systems. In addition to prostate applications, the company is advancing development of guided biopsy tools for breast, liver and lung lesions, leveraging its core competency in needle trajectory control to address a broader oncology diagnostic market.
Founded by a team of medical device veterans who previously held leadership roles within global imaging and diagnostics firms, Modular Medical completed a corporate spin-out in 2021 to pursue a dedicated focus on biopsy guidance solutions. Since then, the company has established its headquarters in Irvine, California, augmented its R&D capabilities with a secondary facility in the Midwest, and expanded its commercial footprint through direct sales in North America and distribution partnerships across Europe and select Asian markets.
Modular Medical’s management team is led by President and Chief Executive Officer Scott Buchanan, whose background includes senior positions in product development and operations at leading healthcare technology companies. He is supported by Chief Financial Officer Jennifer Segal, a finance executive with extensive experience in med-tech public issuers, and Chief Technology Officer Dr. Andrew Lin, a biomedical engineer with a track record of launching minimally invasive diagnostic devices. Together, the leadership team seeks to drive product innovation, regulatory approvals and global adoption of the company’s biopsy guidance portfolio.
