UK-based ostomy specialist Trio Healthcare (Trio) has secured a multi-million-pound financing from US specialised finance firm, SWK Holdings Company, as the corporate targets vital home and worldwide progress forward of an upcoming product launch.
Trio develops and distributes silicone-based ostomy equipment, designed to offer stoma sufferers with entry to merchandise which might be gentler to the pores and skin.
Lloyd Pearce, founder and CEO of Trio, stated: “Our mission is to make life higher for folks residing with a stoma, and problem the established order inside the market by introducing genuinely progressive new merchandise that promote a greater high quality of life for all ostomy sufferers.
“With the enterprise rising at tempo, the Trio group is delighted to have the assist of SWK Holdings, which has come at a pivotal second as we push ahead with our product growth plans. We stay on observe to launch a ground-breaking product subsequent 12 months, which we firmly imagine will rework the ostomy market and, importantly, folks’s lives.”
In 2019, healthcare executives Richard Anderson and Spencer Kerry, former CEO and CFO of superior wound care firm Crawford Healthcare, took a majority stake within the enterprise. The cope with SWK Holdings represents one other main injection of funds and can allow the dimensions up of the launch and commercialisation of a “world-first” product in early 2021, with the target of remodeling the lives of ostomy sufferers worldwide.
Richard Anderson, chairman of Trio, stated: “The ostomy market is estimated to be price $3 billion globally and rising, but it stays a considerably untapped sector relating to new merchandise and applied sciences. Our first-to-world product, to be launched within the coming months, represents not solely a transformational step ahead for our firm, however offers that uncommon alternative to disrupt a longtime market.”
Winston Black, CEO at SWK Holdings Company, added: “Trio is a profitable enterprise in a pretty market. We’ve got been impressed by the ambition of the enterprise together with the professionalism of the management group and the innovation of their merchandise. We’re delighted to companion with Trio and assist the enterprise because it continues its fast progress.”