Diligence memo · auto-generated · as of July 2, 2026
IC Surgical, Inc.
IC Surgical, Inc. looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
IC Surgical, Inc. operates in Medical Devices, based in GRAND RAPIDS.
Sub-sector tags: medical-devices.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
IC Surgical, Inc. has raised $1.8M in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Pre-Seed (a round under $1.0M).
Largest single filing: $1.0M on 2018-06-04.
Most recent recorded round closed around 2019-07-03.
Valuation (modeled)modeled
Provath models IC Surgical, Inc. at approximately $5.5M (range $90K–$63M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 0.75× the median modeled value of Pre-Seed Medical Devices companies in 2019–2021 (26 peers) — value vs value, same stage and era. Within the normal band (75% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 18 months.
Last raise 7.0 yr ago; this sector typically re-raises about every 16 months.
Silent for over 3× the sector's normal cadence.
The last round was 6.7× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 50% of Medical Devices peers (233 compared).
Modeled value ranks above 39% of those peers.
Closest niche peers: Augustine Surgical, Inc., White Mountain Surgical Partners, LLC, Irving Specialists Surgical Center LLC, Grand Parkway Surgical Institute LLC, Halo Diagnostics Llc.
Peoplefiled
8 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.