Ingenion Medical
Ingenion Medical, run by our guest Ed Cappabianca, is going to change the standard catheter in the UK – The Foley catheter. Urinary catheter-associated infections kill 2,100 people a year and block 1.2 million hospital bed-days. And yet, the Foley catheter – the standard of care – has barely changed in 91 years. Ingenion Medical has built what replaces it.
The cymactive™ 2.0R is a CE-marked, patient-controlled urethral catheter with a patented magnetic valve that is already in clinical use across the UK and 15 international markets. It is superior to either standard Foleys or intermittent catheters, and generating revenue today.
Ingenion Medical are seeking investors.
Here’s the Investment case:
• Revenue generative, regulatory approved. CE Mark achieved Q1 2024. ISO 13485 renewed October 2025. FDA pre-sub meeting completed.
• Commercial traction. Distributor agreements in over 10 countries. NHS Supply Chain at contract award stage. 15 NHS hospitals active or in pipeline.
• Profitable at 1,600 patients per month (80 urologists x 20 patients). Breakeven H2 2027. £49m revenue projected 2030.
• Exit precedent. Comparable urology acquisitions: Urotronic > Laborie $600m;Neotract > Teleflex $1.1b; Augmenix > Boston Scientific $600m; .
• World-class advisors. Advisory board includes: Professor Chris Chapple (former European Association of Urology Secretary General) and Professor Kurt Naber, global authority on urinary tract infections.
If you would like the detailed Investor Pitch Deck, go to: ingenion.approvedinvestors.co.uk
Summary of Podcast
Key Takeaways
- The Problem: Current catheters cause frequent, costly infections (£2k–£3.5k per cycle for the NHS) and severely limit patient mobility and quality of life.
- The Solution: Ingenion’s cymactive catheter is a 30-day, self-voiding device with no external bag, restoring patient dignity and designed to reduce infection risk.
- Market Validation: The NHS created a new framework channel specifically for SimActive, signaling strong support for its innovation and cost-saving potential.
- The Ask: Ingenion is raising £2M (for ~10% equity) to fund commercialisation, targeting a future trade sale to a major urology firm for a potential 10x investor return.
The Problem with Current Catheters
- Urinary Retention: A common condition caused by issues like BPH (enlarged prostate), Parkinson’s, MS, and spinal cord injuries.
- Foley Catheter (Indwelling):
- The 100-year-old standard, anchored by an internal balloon.
- Creates a “superhighway for bacteria,” causing frequent, costly infections.
- Full cost of ownership for the NHS is ~£800/month per patient.
- Intermittent Catheters (Single-Use):
- Used 5–8 times daily, creating significant waste and inconvenience.
- Account for 90% (£157.5M) of the NHS’s £175M annual catheter spend.
- Patient Impact:
- Fear of infection and public voiding → social isolation.
- Reduced fluid intake → dehydration, which can worsen conditions like dementia.
The cymactive Solution
- Innovation: A 30-day, self-voiding catheter with no external tubes or bags.
- Mechanism:
- An internal, patient-controlled magnetic valve.
- An external magnet opens the valve; removing it allows the valve to close naturally.
- Infection Defense:
- The urethra seals over the valve’s end, mimicking the body’s natural defense against bacteria.
- Anecdotal evidence suggests reduced infections and restored function.
- Product Pipeline:
- Current: cymactive for male urinary retention (CE marked).
- In Development: Versions for women and for male incontinence.
Market Validation & Commercialisation
- NHS Adoption:
- The NHS created a new framework channel for cymactive, as it didn’t fit existing categories.
- Ingenion was the sole applicant and signed a 2-year contract on March 12, 2026.
- Ordering codes are now live for hospitals.
- Go-to-Market Strategy:
- Goal: Build awareness among clinicians and patient groups.
- Method: Target early adopters and use their case studies, shared by the NHS innovation team, to drive broader adoption.
- Rationale: A randomised control trial was unfeasible because Foley catheter users were unwilling to risk being randomised to the control group.
Investment Opportunity
- The Ask: £2M for ~10% equity (pre-money valuation: £18M).
- Exit Strategy: Trade sale to a major urology firm (e.g., Coloplast, Becton Dickinson).
- Rationale: Leverage a large firm’s infrastructure for rapid, global scaling.
- Target Return: A typical venture capital return of ~10x investment.
- Investor Profile: High Net Worth (HNW) or Sophisticated Investors.
- Due Diligence: Pitch deck available at ingenion.approvedinvestors.co.uk
Clips from the Podcast
So many medical conditions impact peeing!
Historical Context
Problems with Foley Catheters
Intermittent Catheters – BIG Waste
cymactive Catheter
The Investment Opportunity
As always, Kevin and Graham do not offer financial advice, but we do want to bring these opportunities forward for the general good.
GO to: https://ingenion.approvedinvestors.co.uk
Testimonial
The Next 100 Days Podcast Co-Hosts
Graham Arrowsmith
Graham founded Finely Fettled in 2014 to provide data from The UK High Net Worth Database to marketers targeting affluent and high-net-worth customers. He’s the founder of MicroYES, a Partner for MeclabsAI, creating lead generation AI Agents & Workflows and introducing the MeclabsAI Platform. Graham also provides an Answer Engine Optimisation solution to get your website in shape to be found by LLMs.
Kevin Appleby
Kevin specialises in finance transformation and implementing business change. He’s the COO of GrowCFO, which provides both community and CPD-accredited training designed to grow the next generation of finance leaders. You can find Kevin on LinkedIn and at kevinappleby.com
