Ceribell

Ceribell builds a point-of-care EEG system that lets emergency-department and ICU staff quickly check whether a patient is having a hidden seizure—the kind without obvious convulsions, where the seizure activity shows up only as electrical signals in the brain. A nurse or bedside physician applies a 10-electrode head strap to the patient, the brain-activity data streams to a cloud portal, and an AI algorithm flags continuous seizure activity in real time. The hardware comes in three pieces: a single-use Ceribell EEG Headband that wraps the patient's head and houses the electrodes; a portable Ceribell EEG Recorder that hangs at the bedside, displays the live waveform, and sounds alarms when the Clarity AI algorithm detects a prolonged seizure state; and the Ceribell EEG Portal where neurologists read the streaming data on a desktop or phone. The system replaces a conventional EEG workflow that would otherwise require a specialized technologist, hours of wait time, and a much larger glued-electrode setup.

Hospitals do not buy the Ceribell EEG Recorder outright as capital equipment. The company loans the recorder hardware to each hospital, charges a fixed monthly fee for platform access (the cloud portal and the Clarity AI algorithm), and bills the disposable Ceribell EEG Headband per use. The structure is hardware-as-a-service at the recorder layer, with consumable per-patient billing on the disposable headband. The subscription line carries near-software gross margins and the consumable line scales linearly with utilization, so revenue grows when more patients are monitored rather than when more hardware is shipped. The model lines up with how hospital service lines already account for per-patient-day operational costs.