Hidramed Solutions

Idea

Introduction

HidraMed Solutions, a pioneering patient-founded company, is revolutionising chronic wound care with its patented HidraWear range, a truely disruptive adhesive-free wound care technology designed for people suffering from wounds in flexural and friable skin areas, i.e the buttocks, groin, and armpits, which are difficult to dress. Damage to skin from adhesive dressings cause secondary wounds and prevent wounds from healing, posing substantial challenges to patients and clinicians alike, causing unnecessary pain, skin stripping, maceration, blistering and skin tears.

HidraWear offers clinically proven improved comfort, flexibility, and ease of use compared to traditional wound care methods, greatly enhancing the quality of life for those with HS. This innovation represents a significant step forward in addressing the needs of a patient groups that have historically had limited options for effective wound management. It's simple, it's easy to use, and it works.

Substantial accomplishments to date

HidraMed Solutions, acclaimed for its HidraWear wound dressing system, has significantly impacted chronic wound care.

Winning the Irish Times Innovation Award (2020) and multiple Journal of Wound Care awards, including Gold for CEO Suzanne Moloney in 2023 for Best Clinical Research, and The Advanced Woundcare Summit, Boston, HidraMed Solutions has become widely recognized as experts in commercialising innovative solutions in treating complex wounds like Hidradenitis Suppurativa (HS).

With a robust patent portfolio, including core technology and advanced stimuli-responsive polymers, and regulatory achievements like CE marking, FDA registration, and ISO 13485:2016 accreditation, HidraMed demonstrates a commitment to high-quality, safe products.

Clinical trials show HidraWear's efficacy in improving HS patients' quality of life, reducing pain, and empowering self-care. HidraMed's direct engagement with HS communities ensures their solutions meet real-world patient needs, positioning them as leaders in transforming wound care globally.

Early market traction demonstrates product demand, with multiple distribution partners and reimbursement in place, including the NHS Supply Chain and Drug Tariff Listings.

Monetisation strategy

Fully reimbursed in our major markets, HidraWear is prescribable, widely covered by insurance in the USA, and supported by the NHS in the UK. Its successful market launches have established HidraWear as one of the fastest-growing superabsorbers in the UK.

Direct patient engagement, via education, social media supports patients into the reimbursed system in our key markets, via prescription in the UK and the USA. Direct sales into the hospital and community channel provide access in the accute and community markets.

In 2023, HidraMed Solutions achieved revenues of over €400K with a modest sales & commercialisation team (based on unaudited management accounts). The main activity for Revenue growth came from the UK and US prescription sales.

Supporting our key sales and distribution partners like Daylong (UK), Rotech (US), Prism (US) and Cardinal Health (US), is paramount to build on our successful implementation of our commercialsation strategy to date and to realise the anticpated revenue growth through 2024 & 2025

Use of proceeds

Looking ahead, HidraMed envisions a strategic exit that maximizes return for our investors. Our plan involves building HidraMed's valuation through increased market penetration and revenue growth, culminating in a trade sale to a large multinational in the wound care industry.

To do this HidraMed shall use the proceeds of this round to leverage the momentum of HidraWear's success by expanding our direct sales team in strategically selected locations in the USA, building revenues and demonstrating feasable scaling to future acquirers.

This exit strategy is designed to leverage our unique market position, patent protections, and the disruptive nature of HidraWear, ensuring a lucrative and successful culmination for our stakeholders.