Peek Health and the EIC Accelerator: Surgery Plans, Small Sales
Peek Health, founded in Braga in 2015, sells PeekMed, software that lets orthopaedic surgeons plan joint operations on 3D models before they cut. By January 2025 it said more than 35,000 surgeries had been planned with it by over 4,500 registered users, according to the company. Its EIC project targeted knee osteotomy, which the project said can let patients postpone or avoid a knee replacement but is complex to plan.
The European Innovation Council granted €2,287,922 towards PeekMedAuto, a €3.3 million project from November 2022 to October 2024 to automate that planning with machine learning. The objective promised "revenue exceeding €40 million by 2026" and cumulative profits of about €40 million. The final report says the software performs automatic bone segmentation, landmark detection and planning, validated in a retrospective pilot study at four hospitals in Portugal, France and Germany. Portugal's Iberinform puts the company's annual sales in a band of up to €2 million, with 26 to 50 employees.
Company file
- Legal entity
- Peek Health, S.A., NIF 513369686, Braga
- Founded
- 9 January 2015
- CEO
- João Pedro Ribeiro
- Product
- PeekMed pre-operative planning software
- Offices
- Braga; Weissach, Germany; United States
- Investors
- Grosvenor House of Investments, Portugal Ventures
- EIC project
- PeekMedAuto, 1 Nov 2022 to 31 Oct 2024, closed
Where Peek Health Stands Now
The FDA's 510(k) database lists seven clearances for Peek Health: 2018, 2022 and 2024, and four in 2025, the last on 22 December. In January 2026 the company announced clearance for automatic 2D-to-3D knee reconstruction from standard X-rays, which it said matches real anatomy with over 90% accuracy, according to ORTHOWORLD. It opened a US office in 2024. The only equity round we found disclosed is a €3 million Series A in 2021.
The record
A steady run of clearances, a small company
PeekMed has collected CE marking and seven FDA 510(k) clearances since 2018. Its sales sit in a band of up to €2 million.
- Jan 2015Company foundedBraga
- 2017CE markingPeekMed planning software
- Oct 2018First FDA clearanceK182464
- 2021Series AGrosvenor House of Investments and Portugal Ventures€3M
- Nov 2022EIC project startsPeekMed-Auto: automated knee osteotomy planning€2.29M grant
- Oct 2024EIC project endsPilot study in four hospitals
- Jan 202535,000 surgeries planned4,500 registered users
- 2025Four FDA clearancesPeekMed web updates, including 2D-to-3D knee reconstruction
PeekMed, FDA 510(k) database, CORDIS and Iberinform.
"More than 35,000 surgical plans have been created using PeekMed worldwide, demonstrating the impact of our technology across the globe."
João Pedro Ribeiro, CEO, PeekMed, January 2026The Technology: Planning From an X-ray
PeekMed lets a surgeon position implants or plan bone cuts on a model of the patient's joint. The EIC project automated the steps a surgeon did by hand for knee osteotomy, and the report claims planning now takes "only a few seconds". It gives no accuracy figures from the four-hospital study. The company's own count shows knee osteotomies are a minority of the surgeries planned with PeekMed.
The use
Surgeries planned with PeekMed, by type
Cumulative over ten years, as reported by the company in January 2025. The total across all procedures was over 35,000.
PeekMed blog, 28 January 2025.
What the EIC Project Promised, and What CORDIS Shows
The EIC project
The EU paid 70% of a €3.3M project
PeekMedAuto ran from November 2022 to October 2024.
CORDIS project 190129575. Values in € millions.
On the final report's account, the technical promise was met: the automated planner works and was tested in a retrospective study, though no accuracy figures are published. The commercial promise has not been met so far. The project told the EIC the automation would bring revenue above €40 million by 2026; Iberinform's band for the company's sales tops out at €2 million.
- Automated osteotomy planningDeliveredPer final report.
- Clinical pilotDeliveredFour hospitals, retrospective.
- US regulatory pathDeliveredFour FDA clearances in 2025.
- €40M revenue by 2026Not shownSales band up to €2M.
The Money
Peek Health's disclosed funding is a €3 million Series A in 2021, led by Grosvenor House of Investments and Portugal Ventures, and the EIC grant. It does not publish revenue; the €40 million target in its EIC project was twenty times the top of the sales band it is listed in.
The promise
Revenue promised for 2026 against the reported sales band
In € millions. The EIC project objective promised revenue above €40M by 2026. Iberinform places Peek Health's annual sales in its €1 to €2M band; the chart shows the top of that band.
CORDIS project 190129575; Iberinform.
What Cannot Be Checked
Questions for the EIC
Peek Health's exact revenue and profit, how the €40 million target was assessed at evaluation, and the accuracy results of the four-hospital study are not public.
Why Europe Should Care
The EIC funded a Portuguese company that has built a real product used in thousands of operations. The project text promised revenue above €40 million by 2026, while Iberinform's sales band for the company tops out at €2 million; how the EIC assessed that forecast is not public.
What the project promised
Fully automated knee osteotomy planning, and revenue above €40 million by 2026.
What the record shows
The automation, a four-hospital pilot, seven FDA clearances, and sales of up to €2 million a year.
The Verdict
Good software, a forecast off twentyfold
Peek Health delivered the technology the EIC paid for and keeps winning clearances. On the one published sales band, it is a twentieth or less of what the project promised.
Peek Health and the EIC have not been asked for comment for this article. It is based entirely on public records and published statements, linked throughout.
Industry
HealthMedical devices
- Focus
- Orthopaedic and spine devices
- Technologies
- Artificial intelligence
- 3D modelling
- Keywords
- Surgical planning
- Knee osteotomy
- Orthopaedic surgery
- Joint replacement