What Rivermark Medical does

Rivermark Medical is a privately-held, pre-commercial urology medical device company developing the FloStent System, a uniquely engineered nitinol stent designed to treat benign prostatic hyperplasia (BPH). The device is delivered during routine flexible cystoscopy in an outpatient setting, intended to restore normal urinary flow while preserving sexual function, avoiding post-procedural catheterization, and remaining reversible and adjustable so that future treatment options are preserved. The company was co-founded and is led by practicing urologist Adam Kadlec, MD, and is headquartered in Milwaukee, Wisconsin, with incorporation in Delaware. The team combines clinical, engineering (Head of Engineering Andy Schieber with two decades of medtech design experience), regulatory, and commercial leadership under Board Chairman Andy Doraiswamy, formerly Founding CEO of Koya Medical.

The FloStent differentiates from existing BPH device therapies and surgical interventions on three core axes: (1) zero-capital deployment through standard flexible cystoscopes, removing the infrastructure barrier that constrains capital-intensive alternatives such as laser or robotic systems; (2) reversibility and adjustability, enabling FloStent to serve as a first-line intervention before patients commit to irreversible surgical options; and (3) procedural simplicity, with no tissue removal or destruction, no post-procedural catheter requirement, and outpatient delivery at the point of diagnosis. Clinical development has progressed through RAPID-1 FIH (15 patients in Panama, January 2023), RAPID-II OUS multi-center enrollment in Australia, New Zealand, and Mexico (full enrollment December 2023), RAPID-UR expanded indication study in urinary retention patients (11 patients, January 2024), and the RAPID-III US pivotal trial (NCT06849258, first patient April 2025) intended to support FDA review.

The business model is planned hardware/device sales to urology practices and outpatient surgery centers, distributed via an enterprise field-sales motion led by a Vice President of Market Development and supported by FloStent Procedural Specialists. The company is currently pre-revenue and investigational-only; cumulative disclosed funding is approximately $30M in Series C (October 2024) led by American Century Investments with participation from Venture Investors Health Fund, Time BioVentures, View Ventures, Cadence Healthcare Ventures, and Anduril Investors LLC, plus prior Series B (2023) and seed/Series A tranches. The addressable market is large—approximately 40 million men in the US and over 500 million men globally affected by BPH—but revenue realization is contingent on FDA clearance and commercial launch following the RAPID-III readout.

Name

Rivermark Medical

Legal name

Rivermark Medical, Inc.

Website

https://rivermarkmedical.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

Rivermark Medical is a pre-commercial urology medical device company developing the FloStent nitinol stent for outpatient treatment of benign prostatic hyperplasia (BPH), targeting urology practices and ambulatory surgery centers.

Ownership category

akta.pro rank

Product category

Urology Medical Devices

SIC

Orthopedic, Prosthetic & Surgical Appliances & Supplies (3842)

akta.pro primary industry

General Urology (HLAKAOAA)

Keywords

• Benign prostatic hyperplasia treatment
• Nitinol urethral stent
• Minimally invasive urology device
• Outpatient BPH therapy
• Prostatic urinary flow restoration

Headquarters

HQ city

Milwaukee

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D

Revenue model

1. Medical Device Sales: Rivermark Medical plans to commercialize its FloStent System as a medical device sold to urology practices and outpatient/surgery center settings. Revenue will be generated through device sales for implantation procedures. The company is currently in clinical development stage (pre-commercialization).

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Rivermark Medical develops the FloStent System, an investigational, minimally invasive nitinol stent-based medical device for first-line treatment of benign prostatic hyperplasia (BPH). The device is deployed via a standard flexible cystoscope during a routine outpatient cystoscopy to hold the prostatic urethra open and restore normal urinary flow. The product is currently in clinical development (RAPID-3 pivotal trial) and not yet commercially available.

Product overview

Rivermark Medical is a urology-focused medical device company developing the FloStent System, a single flagship product for treating benign prostatic hyperplasia (BPH). The FloStent is a nitinol stent implant designed to be deployed during a routine cystoscopy procedure in an outpatient setting, offering rapid symptom relief while preserving sexual function and maintaining reversibility. The company is currently conducting clinical trials (RAPID-III pivotal study, RAPID-UR expanded indication study) to support FDA review and eventual commercialization in the United States.

Differentiator

Problem solved

Functional benefit

Brands

• FloStent System: First-line device treatment for BPH - a nitinol implant designed to relieve symptoms of benign prostatic hyperplasia. Integrates with standard flexible cystoscope for outpatient delivery.

Products and services

• FloStent System A first-line investigational device treatment for benign prostatic hyperplasia (BPH) consisting of a small, uniquely engineered nitinol stent that gently holds the prostatic urethra open to restore normal urinary flow. Delivered during a routine flexible cystoscopy in an outpatient setting with minimal recovery time, reversibility, and preservation of sexual function.

Quantifiable outcome

• All 15 patients in RAPID-1 FIH clinical trial experienced rapid symptom improvement following FloStent implantation
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core and supporting.

• Freedman UrologycoreStrategic or Co-development PartnerFreedman Urology in Las Vegas, Nevada served as the first site to enroll a patient in the RAPID III pivotal clinical trial in April 2025. Dr. Sheldon Freedman, a board-certified urologist and early adopter of innovative BPH therapies, performed the first procedure. Acted as a key clinical trial investigator site.
• Pacifica Salud Hospital and Panama ClinicsupportingStrategic or Co-development PartnerClinical trial sites in Panama City, Panama where the RAPID-1 FIH clinical study was conducted (15 patients) and where the RAPID-UR expanded indication study was performed (11 patients). Dr. Ingrid Perscky Arravanti served as Principal Investigator.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Astellas / Vibegron (pharma BPH/urology): Astellas markets Vibegron and other urology drugs and would be a non-device incumbent in the BPH and overactive bladder market competing for the same physician's prescription pad for first-line BPH treatment.
• GlaxoSmithKline / Theramex (BPH drug incumbents): Major pharma companies selling alpha-blockers and 5-ARIs (e.g., tamsulosin, finasteride/dutasteride) represent the dominant first-line incumbents for BPH that any first-line device must displace or complement.

Direct peers

• Boston Scientific (Rezum): Boston Scientific markets the Rezum System, a minimally invasive water-vapor thermal therapy for BPH. Targets the same urologist customer base with a competing first-line minimally invasive BPH modality and is a primary head-to-head competitor in commercial accounts.
• Teleflex (NeoTract / UroLift): Teleflex acquired NeoTract and markets the UroLift System, a minimally invasive implant for BPH delivered via cystoscopy. The most directly comparable commercial precedent and primary competitor to FloStent in the office/outpatient BPH implant niche.
• Olympus (iTind): Olympus markets the iTind (temporary implantable nitinol device), a temporary nitinol implant for BPH deployed cystoscopically. Direct commercial competitor using the same nitinol material and outpatient cystoscopy workflow for BPH.

Others

• Koya Medical: Koya Medical, founded by Andy Doraiswamy (Rivermark's Board Chairman), is a venture-stage medical device company in vascular/lymphatic care. Thematically related as an adjacent medtech in the founding chairman's portfolio but does not directly compete in BPH.

Emerging players

• Butterfly Medical: Butterfly Medical is developing a novel nitinol-based implant for BPH, very similar in material and mechanical approach to FloStent. A near-direct emerging competitor in the same BPH implant category.
• Zenflow: Zenflow is developing the Zenflow Spring System, a minimally invasive implant for BPH. Closely analogous early-stage company building a BPH implant with similar mechanism-of-action framing (gentle tissue displacement) and target physician base.
• SRS Medical Systems: SRS Medical has developed the Spanner prostate stent for BPH-related urinary retention. Comparable as an early-stage urology implant developer targeting the same BPH/urinary-retention use case with an indwelling or temporary stent approach.
• ProVerum: ProVerum is developing the Optilume BPH catheter system, a novel minimally invasive device for BPH. Closely comparable emerging-stage medtech in the same indication with overlapping physician customers and similar regulatory pathway.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/rivermark-medical-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds5 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rivermark Medical