HidraMed Solutions Ltd.

Founders: Suzanne Moloney
 
Number of Staff: 4
 
Start Date: 2016-04-16
 
Tell us what your business does?
At HidraMed Solutions Ltd. we develop and sell wound care solutions for people living with a debilitating skin disease called hidradenitis suppurativa (HS) for which current wound care options are limited and ineffective. We have 2 products on the market presently, and 2 more in the development pipeline, which we expect to launch in the coming months.
Where did the idea for your business come from?
I have this disease and have always struggled with wound care. I initially wanted to develop the product to help myself manage my day to day wound care, but when I spoke to others with HS, I realised I was not alone in my frustration and so I began to develop it further with a goal to making it available to others.
Have you always wanted to run your own business?
Yes, this is my second business
What planning did you do before you started up?
Very little to be completely honest. I was very inexperienced in medical device development and I made a lot of mistakes in the early days. Once I met the right people however, I was able to get some great work done and develop a solid business plan.
Which entrepreneurs do you admire?
Anita Roddick
What challenges have you faced and how have you overcome them?
So many challenges along the way. In particular my inexperience, and the huge amount I had to learn in order to develop this product. It was not easy, but I overcame this by studying, and interacting with people in the industry who were more than happy to to help. Also working with consultants, and hiring experts was a huge benefit at the early stages of development.
How have you promoted your business?
We sell our products direct to the end user, so we mainly promote online and through social media. We have participated in several exhibitions ad dermatology conference also, and will do more of this as the product becomes available through health services.
Where do you see the business in 3 years’ time?
HidraWear will be available through insurance and through health services in the USA, Canada, Europe, and we will be developing more advanced wound dressings for HS, and also product solutions for other types of wounds.
What advice would you give to budding entrepreneurs?
Keep going, there are going to be lots of days when you want to give up, and I would suggest to take a good break on days like that. Come back to the problem form another angle, and see how you can overcome it, or if you have other options. Don’t give up. Stay focused on your vision and be creative in your problem solving.

Leave a Comment

Your email address will not be published. Required fields are marked *