Newswise — HOUSTON, Jan. 29, 2024 /PRNewswire/ -- Lion Street Medical, LLC is pleased to announce the successful acquisition of Pensar Medical, LLC, a prominent medical device company specializing in wound care. The acquisition, finalized in October 2023, brings new leadership to the trusted Pensar Medical and WoundPro brands.
Founded in 2012, Pensar Medical specializes in cutting-edge Negative Pressure Wound Therapy (NPWT) systems, including WoundPro, which boasts the industry's most powerful and durable pump, and MicroDoc, a disposable unit for single-use NPWT (sNPWT). The company also offers high-quality wound care supplies, including collection canisters and foam dressing kits.
"We see a complete product portfolio for NPWT at Pensar," said Jason Bandy, who led the acquisition and will join as Pensar Medical's CEO. "Pensar has an established presence in traditional NPWT and a market-ready solution in MicroDoc to combat incidences of surgical site infections and improve healing with the use of NPWT for closed incisions."
Surgical site infections cost the US healthcare system over $3.3 billion dollars each year and sNPWT devices, like MicroDoc, have been shown to cut this risk by more than half.
"The annual market for sNPWT is approximately $400mm and growing more than 20% per year," Benjamin Ostrow, the company's new Chief Financial Officer who co-led the acquisition with Bandy. "The growth is driven by the adoption of NPWT for closed incisions as well as the simplicity and economics of disposable devices."
"Already the standard of care in mature markets, Negative Pressure Wound Therapy represents a more than $3 billion total addressable market that continues to grow at 6% to 8% per year," Bandy continued. "We see immense potential for growth and enhancing health outcomes. We're excited to start this new phase alongside our dedicated distributors and employees."
For inquiries, partnership opportunities, or career possibilities, visit the new Pensar Medical website at www.pensarmedical.com.
About Pensar Medical:
Pensar Medical (www.pensarmedical.com) is a leading innovator in wound care and negative pressure wound therapy (NPWT). The company offers cutting-edge solutions like WoundPro™ and MicroDoc® through a network of authorized distributors. These devices are designed to facilitate wound healing and improve patient outcomes. Founded in 2012, Pensar Medical has a solid track record of delivering quality products and services, and its dedicated team is committed to advancing the standard of wound care. For more information, please contact [email protected].
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