InControl Medical, a Brookfield-based medical device company that makes in home devices for the treatment of bladder and bowel leakage for women, is selling shares of its company to private investors to fund a marketing campaign that will promote its devices.
The company's total equity offering is $10 million, but the minimum investment amount is $250,000.
Founded and led by CEO Herschel Peddicord, InControl says its devices help women without the use of pads, pills, implants, or surgeries. Bladder leakage affects 60 million women in the U.S. and bowel leakage affects an additional 16 million women, the company stated.
"People can't buy your products if they don't know about them," Peddicord said. "Our intention is to launch a significant marketing effort to reach the 70 million or more women in America living with these issues. They need to know that there is an easy to use at home device to resolve the problem."
Peddicord founded HomMed, a Brookfield company that produces products that track the vital signs of individuals with chronic illnesses from their homes. The company generated $38 million in annual sales until Peddicord sold the company to Honeywell International Inc. in 2004 for $130 million.
Peddicord founded InControl in 2010, and the company has grown to 170,000 customers and more than 50 patents. According to InControl, the global urinary and fecal incontinence market will top $15 billion by 2025.
"Our products are meant to empower everyday women," Peddicord said. "If you aren't a sufferer yourself, the statistics say someone you care about suffers with bladder leakage, and they don't have to."
