Leading Prostate Biopsy Innovator Perineologic® Secures Significant Investment for Rapid Expansion

Strategic Partnership with Esteemed Private Equity and Hedge Fund Executives to Boost Sales and Defend Cutting-Edge Patent Portfolio

CUMBERLAND, Md., Aug. 29, 2024 /PRNewswire/ — Perineologic, a pioneer in transperineal prostate biopsy technology, is pleased to announce a strategic investment from a group of highly seasoned private equity and hedge fund executives. This investment marks a significant milestone in the company’s ongoing mission to advance prostate care through cutting-edge, 100% USA-made technology. To learn more about Perineologic, visit www.perineologic.com. 

“We are thrilled to welcome this distinguished group of investors into the Perineologic family,” says Matthew Allaway, CEO of Perineologic. “Their support is a strong endorsement of our vision and our market-leading position in prostate biopsy innovation.”

With the infusion of capital, Perineologic is poised to rapidly expand its commercial sales team. The company plans to accelerate market penetration and ensure that its groundbreaking PrecisionPoint® Transperineal Access System, known for its high cancer detection rate and low infection rate, reaches more healthcare providers and patients globally.

In addition, the company will use the proceeds to aggressively defend its exceptional patent portfolio, a critical asset that has cemented Perineologic’s leadership in the field. “Our intellectual property is at the heart of our success,” Allaway explains. “We have invested a significant amount of capital over the last 10 years to create products that significantly advance prostate biopsy technology. This new investment will allow us to safeguard our innovations and continue to push the boundaries of what’s possible in prostate care.”

A key element of Perineologic’s growth strategy is its commitment to manufacturing in the USA. The company plans to expand its domestic manufacturing capabilities, ensuring that its products are made to the highest standards of quality while supporting American jobs. “Manufacturing the PrecisionPoint® Transperineal Access System in the USA is a core value for us,” Allaway adds.  “It reflects our dedication to quality and our commitment to contributing to the U.S. economy.”

With this strategic investment, Perineologic is not only reinforcing its leadership in the prostate biopsy market but also accelerating its mission to transform prostate care globally. The company remains committed to delivering groundbreaking solutions that improve patient outcomes, backed by their robust intellectual property and strong manufacturing base in the USA.

About Perineologic

Perineologic is a leader in innovative prostate biopsy procedures, dedicated to advancing prostate health through precision technology. The company is the market leader in transperineal biopsies and research has shown higher cancer detection rates and lower rates of infection utilizing the PrecisionPoint® Method. The company’s mission is to provide healthcare professionals with the tools they need to improve patient outcomes and revolutionize prostate care. Perineologic’s groundbreaking solutions are backed by a robust patent portfolio, ensuring its continued leadership in the field. Learn more at www.perineologic.com.

Media Contact:

Demetri Cendo
Executive Assistant
Perineologic®

183 N Centre Street
Cumberland, MD 21502

(240) 727-7662

[email protected]
www.perineologic.com

View original content:https://www.prnewswire.com/news-releases/leading-prostate-biopsy-innovator-perineologic-secures-significant-investment-for-rapid-expansion-302234596.html

SOURCE Perineologic