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News & Trends - MedTech & Diagnostics

Coloplast completes investment in Francis Medical

Health Industry Hub | September 30, 2020 |

MedTech News: Coloplast announced today that it has completed a USD 4M equity investment in Francis Medical, an early stage company pioneering urological cancer treatments, beginning with prostate cancer.

Founded in 2018, Minneapolis-based Francis Medical is a privately held company committed to developing minimally invasive urological cancer treatments. The foundation of the company is a tribute to and legacy of the inventor’s father, Francis Hoey, whose life was ended by prostate cancer with treatments that had harsh implications on his normal daily living.

Prostate cancer is a serious disease where current treatment options often cause further complications of urinary incontinence and erectile dysfunction. Francis Medical’s ground-breaking ablation technology applies the thermal energy stored in sterile water vapor to deliver targeted treatments to the cancerous tissue in a simple transurethral procedure, potentially minimising the side effects often experienced with other prostate cancer treatments.

The investment fits with Coloplast’s strategy to pursue organic and inorganic growth opportunities in the Interventional Urology business. Francis Medical in particular and the prostate cancer segment in general align with the Interventional Urology’s strategic direction, bringing innovative solutions to the urology market.

“We are proud to be supporting life-changing technologies in growing urology segments.  As part of our long-term strategy we are exploring multiple areas for investment and growth, and we are excited about providing solutions in Men’s Health segments like prostate cancer,” said Steve Blum, President of Interventional Urology.

Coloplast is dedicated to making life easier for people with intimate healthcare needs and advancing the treatment of prostate cancer supports that mission. The investment in Francis Medical will help the company continue to develop their minimally invasive solution and help Coloplast Interventional Urology continue to grow its presence in the market with customers and patients.

“There is a large unmet need for patients seeking treatment alternatives with fewer side effects than radiation or a radical prostatectomy. We are working to address that unmet need and are excited to have the support of a leader in urology like Coloplast to improve the treatment of prostate cancer,” said Mike Kujak, CEO of Francis Medical.


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