Urinary incontinence (UI) is a common and general term used for a roughly $3.4B urinary catheter marketplace worldwide. There are numerous causes for UI or instances where a catheter is needed, including but not limited to overactive bladder, prostate enlargement (aka Benign Prostate Hyperplasia or BPH), Cerebral Palsy, Spina Bifida, spinal injuries, coma, Alzheimer's Disease, Muscular Sclerosis (MS), Lou Gehrig's disease (ALS), cancer patients, post-op patients, emergency and ambulatory care.
In the United States alone there are a total of 15,583 registered nursing homes, 6,228 registered hospitals, and roughly 900k staffed beds in these registered hospitals. By the calculation of some of the leading reporting firms, the urinary catheter market is expected to reach $4.5B worldwide by 2022, with a CAGR (compound annual growth rate) of 4.1%.
The urinary catheter is one of the most commonly used medical devices in the world today. As the number of seniors in the world grow, as will the worldwide use of catheters. To support the above CAGR figure, by 2020 there will be a total of roughly 80 million baby-boomers in the United States. By 2030 there will be a total of 1B people over the age of 65 across the globe. Besides seniors, the groups under the age of 65 suffering from some form of UI today account for roughly 50M people in the US.
And while 80% of all hospital related Urinary Tract Infections (UTI's) are caused by internal catheters, the WHO estimates that currently at least 200M people worldwide are using or are in need of an indwelling or internal catheter.
Many in the healthcare field argue in the last 80 years there has been little change in the engineering of the urinary catheter. Long-term sufferers of UI and the professionals who treat UI patients have explored solutions to minimizing discomfort, while minimizing the development of CAUTI's (Catheter Associated Urinary Tract Infections), with little to no avail. The use of a catheter can be painful and embarrassing. Possible complications from standard internal and external catheters include; leaking of urine from the catheter or the person, allergic reactions to its materials such as latex, other skin irritation and decay, injury to the urethra, bladder stones, kidney damage, Septicemia or infection of the kidney's, and/or infection of the blood.
This marketplace has been in need of a more favorable solution.
The Company we're representing has created a product, which is one part medical grade silicone that is able slightly attached to the surface of the body, female or male (limited re-use), and comfortably held in place by a slight yet durable contact via vacuum pressure generated by a medical grade pump. The electrical negative pressure pump (long-term use) automatically empties the bladder completely, including the 10% typically left behind during the 'regular' emptying of the bladder. Fluids are pumped into a negative pressure container, where the urine can be measured and analyzed and then container can then be removed from the case to emptied and cleaned.
This is self-applicable, essentially painless, and a consistent solution for all sufferers of the UI marketplace. This essentially eliminates any and all of the above complications in regards to catheter complications, and Catheter-Associated UTI's, or CAUTI's.
Application is simple, and unlike other similar options utilizing a manual style air pump, there is no special procedure or experience with the equipment in order to gain optimal results. The above solution will also save the embarrassment, discomfort, burden of an attached device and/or apparatus, and the pain UI sufferers encounter when facing this dilemma.
This product solution is supported by two international and domestic patents; one for the disposable human apparatus, and one for the reusable urinary container apparatus.
The Company is interested in seeking a strategic partner, which can take this proprietary and effective solution to deploy into this vital and growing catheter market. The challenge is informing providers, UI sufferers, and caregivers that there are superior options available, including options for Medicare/Medicaid Reimbursement as this silicone attachment qualifies as Durable Medical Equipment (DME) as well as the pump being Home Medical Equipment (HME) and Home Healthcare Equipment as deemed by these State and Federal Agencies.
This opportunity is estimated to be worth billions, as there is no product in the urinary catheter market with this level of effectiveness, ease of use, and technical sophistication.
Currently, the Company has received a LOI (Letter of Interest) from a very well-known medical supply company which currently services over four-thousand hospitals, nursing homes, and home health agencies. This supplier has sold nearly 2MM catheters annually, and in addition to the sale of the initial unit, there will remain further opportunities for the disposable silicone apparatus portion of the system.
This refined catheter can produce sales (based on 10% of the demand of the stated LOI) $40M in the first year, for the reusable unit and the limited reusable apparatus in a single year. This is not counting subsequent sales per year for the re-usable portion, additional demand, other suppliers, international sales, and individual home use.
NDA is required for comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners.
Facilities: Home based business, portable nationwide.
Competition: CIM covers this.
Growth & Expansion: CIM covers this.
Financing: Expected cash @ close + either note or royalty/licensing revenue stream(s).
Support & Training: CIM covers this.
Reason for Selling: Find strategic acquirer to expand revenues.