Inlet Medical Gets $1M in Private Placement

MINNEAPOLIS, June 1 (LocalBusiness.com) -- Inlet Medical said it completed a $1 million private placement financing that it will use for more marketing and for working capital.

The company develops and markets medical instruments used for minimally invasive women's health care. It developed a disposable surgical kit used for a new minimally invasive uterine repositioning procedure to treat women who suffer from painful intercourse.

This is the privately held company's third financing, but it also marks a shift from the focus on product development to a new focus on marketing, said president and CEO Lee A. Jones.

Inlet Medical was founded in 1992 and Jones joined in 1997. Since then, it has focused on developing products to sell, she said.

At least 2 million American women of reproductive age suffer from pelvic pain associated with menstruation or intercourse because of a retroverted or tipped uterus, said Jones. The condition can be corrected by the company's procedure, she said.

"We know that it is a subject that women are often reluctant to discuss with their physicians, and for that reason we are investing in a substantial effort to acquaint both consumers and health care professionals with our therapies," said Jones in an announcement.

Inlet established one Website for consumer education and another for doctors and other health care professionals.

The sites provide information on procedures and products. Consumers can get case information, brochures and other materials; doctors can get information on products, procedures, practice development and training.