A Yorkshire manufacturing firm, engaged in the development of innovative and advanced medical technologies, has been awarded a seven-figure sum from a healthcare investment vehicle to fast-track a state-of-the-art production facility which will enable the launch of a “ground-breaking” medical device.
Yorkshire-based Trio Healthcare has been awarded an additional £1m by Impel Healthcare Catalyst that will accelerate the development of the world’s first ostomy focused facility in Skipton.
The announcement proceeds Trio’s launch of a range of novel medical products which it claims will “transform the lives of ostomy patients around the world”.
Impel had previously invested more than £15m in Trio Healthcare, its first major investment, taking a majority stake in the Yorkshire business.
In addition to creating new manufacturing roles in the area, the additional £1m will also help Trio Healthcare secure patent protection for its ostomy manufacturing processes.
More than half of all ostomy patients report “significant skin complications” from ostomy products currently on the market, creating an opportunity for Trio Healthcare to manufacture a “game-changing” device that will positively change the lives of sufferers the world over, the Yorkshire firm said.
Why would someone need an ostomy?
Traditionally, an ostomy is a sort of ‘pouching’ system – a medical prosthetic that collects waste from the human body via a surgically diverted biological system, creating a stoma.
An ostomy is most commonly associated with colostomies (diverting one end of the colon, or bowel, through an opening in the abdomen), ileostomies (where the small intestine is diverted through an opening in the abdomen), and urostomies (an artificial opening for the urinary system).
An ostomy may be necessary for a whole range of medical reasons, including cancers, inflammatory bowel disease (IBD), incontinence and birth defects.
They are also used after accidents that have caused severe abdominal or pelvic trauma.
Around half of all ostomy patients report defective devices as “normal”, according to Trio Healthcare.
“This is a crucial time for the multi-billion-pound ostomy market. With innovation at a standstill for over 60 years, the patients are in desperate need of innovation and the multinationals are flailing,” said Richard Anderson, co-founder of Impel.
“Even worse, in some cases products are being withdrawn from the market due to the risk of harming patients.
“Industry data indicates that 50% of all ostomy patients report significant skin complications as a result of the products they are given and 50% of those patients believe this to be normal.
“We believe it doesn’t have to be this way and have accelerated plans to develop Trio’s new manufacturing plant and bring our game-changing product to market earlier than planned, which we believe will at least halve the cases of skin complaints in patients,” he added.
Lloyd Pearce, founder and chief executive officer of Trio Healthcare, said the creation of Trio’s Skipton manufacturing facility is an important part of transforming the lives of ostomy patients the world over.
*Main image courtesy of Depositphotos