With lead investment from ‘master investor’ Jim Mellon, The Diabetic Boot Company (now Pulse Flow Technologies) successfully raised £1,764,493 to help support the company’s product development and rollout.
Every 20 seconds, someone in the world loses a limb to diabetes. Studies show that 50% of those people die within 2 years. Between 2010 - 2011, the NHS spent up to £662 million on ulceration and amputation. The International Diabetes Federation forecasts that the number of diabetics worldwide is likely to reach 552 million by 2030.
CEO Les Lindsay, formerly VP of KCI Medical, founded The Diabetic Boot Company (now known as Pulseflow) to solve this problem using innovative biotechnology. The result was 'pulseflow DF' - a patented and clinically proven design capable of healing foot ulcers caused by diabetes within 12 weeks. What’s more, the Armstrong research study showed that the intermittent plantar compression feature utilised in the pulseflow DF resulted in 100% of wounds healed within 12 weeks for compliant patients.
Where are they now?
The Diabetic Boot Company has received numerous awards, including ‘Start Up Business’ Winner in the 2014 SEHTA Healthcare Business Awards. It was also a runner up for ‘Start Up Business’ in the 2015 Medilink UK Awards, and received a funding grant from Technology Strategy Board. The company was also discussed in the press, most notably in an article by The Telegraph.
Investment in this round was led by Jim Mellon, whose most notable investment was UraMin Inc which listed on AIM in 2005 and sold to Areva for £1.6 billion in 2007. You can read more about Jim Mellon in This Is Money, The Telegraph, The FT, FT Advisor and The Sunday Times.