STEWARTVILLE, Minn., March 5, 2026 /PRNewswire/ — Minnesota Medical Technologies Corporation, a leading innovator in continence care solutions, today announced it has raised $20.6 million of new capital through a Series A preferred equity financing co-led by HM Venture Partners and Southeast Minnesota Capital Partners. The company will use the new capital to fuel the commercial launch of its lead fecal incontinence product in the US market and scale operations to meet growing demand.
“This funding marks a pivotal moment for our company,” said David A. Jonas, CEO of Minnesota Medical Technologies Corporation. “With the support of our investors, we are now positioned to launch StaySure™ into the newly cleared US market and expand our talented team. For the millions of people living with fecal incontinence, this represents an opportunity to finally access a safe, effective, and life-changing solution.”
The funds from the Series A financing will be used exclusively for:
- U.S. Market Entry: Establish the operation, commercial, and distribution infrastructure needed to successfully launch StaySure™ across multiple channels in the US market.
- Talent Acquisition: Strategically build a high-performing team across sales, marketing, and customer care to accelerate market penetration, drive market education and brand awareness, and sustainable revenue growth.
- Financial Security – Provide debt reduction and financial security to support disciplined, sustainable growth.
Founded in 2015, Minnesota Medical Technologies Corporation was established to address one of healthcare’s most significant yet underserved conditions: fecal incontinence. In collaboration with Mayo Clinic gastroenterologist Adil Bharucha, MD, the company created a simple, single use device designed to provide an effective alternative to absorbent products that have historically dominated the market.
Fecal incontinence (which is commonly known as “accidental bowel leakage”) affects more than 2% of the global population, representing tens of millions of individuals worldwide, with most relying on adult diapers and pads rather than restorative solutions. This represents a substantial and largely untapped market opportunity for innovative, clinically validated interventions that improve quality of life.
Following the establishment of a world-class medical device manufacturing facility and the successful completion of a clinical trial at Mayo Clinic, the FDA granted clearance for StaySure™ in July 2025. With regulatory approval secured, Minnesota Medical Technologies is now positioned to scale its commercialization efforts. This Series A fundraise will allow us to accelerate physician and patient education, expand distribution channels, and support broad market penetration of this differentiated solution, unlocking meaningful value in a large, underserved global market.
About Minnesota Medical Technologies Corporation
Founded and driven by a talented, experienced team with a proven track record of value creation, including leadership experience from Rochester Medical Corporation (sold in 2013 for $262M to CR Bard), Minnesota Medical Technologies Corporation is committed to developing, making, and selling Continence Care Products of unmatched comfort, performance, and quality. The company’s innovative StaySure™ product is a clinically proven, single use insert designed to safely and effectively manage accidental bowel leakage and fecal incontinence. By offering a discreet, patient-centered alternative to traditional absorbent products and invasive surgeries, StaySure™ represents a differentiated solution in a large and underserved market. With experienced leadership, validated clinical data, and regulatory clearance, the company is strategically positioned to scale commercialization and deliver meaningful impact for patients while generating significant long-term shareholder value.
About HM Venture Partners
HM Venture Partners is a San Franciso-based venture capital firm that backs high growth medtech and biotech companies globally and across all stages. Founded in 2019 by Robert Luo, HMVP has three funds totaling over $600 million under management. Prior to founding HMVP, Mr. Luo was a senior investment officer in Mayo Clinic Treasury Services.
About Southeast Minnesota Capital Partners
SE MN Capital Partners is a venture capital management company based in Rochester, MN that manages two early-stage venture capital funds that focus on Minnesota medtech companies as well as seven single company special purpose vehicles. David Herbert and Harry Hoffman founded SMCP in 2022 following their retirements from business and investment leadership roles at Mayo Clinic.
Minnesota Medical Technologies Corporation Contact:
David A. Jonas
CEO and President
dajonas@mnmedicaltechnologies.com
507-533-0366
www.mnmedicaltechnologies.com
www.staysuretoday.com
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SOURCE Minnesota Medical Technologies
