Trio Healthcare (Trio) has received significant investment from Impel Healthcare Catalysts (Impel), a catalyst company for innovation and growth in the healthcare sector, which has acquired a majority stake in the business.
It comes at a pivotal time as Trio moves to finalise development and commercialise a truly disruptive first-in-class product for key European and US ostomy markets.
The deal will see Richard Anderson and Spencer Kerry join CEO Lloyd Pearce on the Trio board.
Lloyd Pearce, founder and CEO of Trio, added: “Impel’s extensive strategic experience and healthcare knowledge, coupled with the management team’s impressive track record to deliver rapid growth, is a great fit for Trio. We have a loyal customer base which has got the company to where it is today, however with the support from Impel we feel confident to be able to take the business to the next level.”
Richard Anderson, co-founder of Impel, said: “Impel has a commitment to backing tech-enabled healthcare businesses with good potential that lack funding and expertise, so we are delighted to have secured our first investment in Trio, a company primed for its next stage of growth.
“As a massively untapped sector, the ostomy market is estimated to reach $4 billion globally by 2021. With its new ground-breaking technology in development, this is a real opportunity for an innovative company like Trio to disrupt a multi-billion-dollar market, so we’re excited to launch that in early 2020.”
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Published: 8th November 2019