What ExEm® Foam does

ExEm Foam Inc., headquartered in Nashville, Tennessee, is a privately held specialty pharmaceutical company that manufactures and distributes ExEm Foam ((air polymer-type A) intrauterine foam), the only FDA-approved contrast agent for hysterosalpingo foam sonography (HyFoSy). The product is used during transvaginal ultrasound to assess fallopian tube patency in women with known or suspected infertility, producing approximately 127,000 micro air bubbles per ml that create a highly echogenic (bright white) image of patent tubes on standard 2D ultrasound, with optional 3D and High Definition Flow Doppler enhancement. The procedure is performed in-office, takes under 15 minutes on average, and avoids X-ray radiation, iodine contrast, and cervical tenaculum required by traditional hysterosalpingography (HSG), with clinical accuracy comparable to laparoscopy with dye per the FOAM Study and over 60 peer-reviewed publications.

The company targets U.S. fertility clinics, OBGYN practices, and hospital fertility departments, with named adopters including Mayo Clinic Rochester, NYU Langone Health, Johns Hopkins Medicine, and Texas Children's Hospital. Revenue is generated on a per-procedure consumable basis via the SendRx pharmacy hub, which handles EMR-integrated prescription fulfillment, benefits verification, and 2-day shipping, capped at $249 self-pay out-of-pocket per procedure; insurance coverage varies (medical benefit via J-code J3490 or pharmacy benefit). Commercial operations are supported by a direct field sales force of Account Managers and a Clinical Adoption Program delivered by Clinical Applications Specialists, alongside a multi-channel marketing presence at reproductive medicine conferences (ASRM, PCRS, ACOG, AIUM, MRSi). The product is a registered trademark of GISKIT PHARMA B.V.; in July 2023, Gedeon Richter Plc. acquired Giskit MD B.V. (owner of ExEm Foam and Gis-Kit assets globally excluding the U.S., China, and South Korea) from parent IQ Medical Ventures B.V. for approximately EUR 30 million, while ExEm Foam Inc. retained U.S. commercialization rights and operates as a subsidiary of XM Holding BV (Rotterdam, Netherlands).

Name

ExEm® Foam

Legal name

ExEm Foam Inc.

Website

https://exemfoam.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

ExEm Foam Inc. is a Nashville-based specialty pharmaceutical company that manufactures and distributes the only FDA-approved foam contrast agent (ExEm Foam) for ultrasound-based fallopian tube patency assessment (HyFoSy) in women with suspected infertility, serving U.S. fertility clinics, OBGYN practices, and hospital fertility departments via per-procedure sales through the SendRx pharmacy hub.

Ownership category

akta.pro rank

Headquarters

HQ city

Nashville

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Supply Chain, Others

Revenue model

1. ExEm Foam Product Sales: ExEm Foam Inc. generates revenue from the sale of its ExEm Foam ((air polymer-type A) intrauterine foam) contrast agent. Healthcare providers purchase ExEm Foam through SendRx, a pharmacy fulfillment partner. Prescriptions are submitted by providers via EMR or SendRx portal; SendRx performs benefits verification and ships the product to clinics. Self-pay patients may pay out-of-pocket at a maximum of $249 per procedure. Insurance coverage varies; ExEm Foam may be covered under medical benefit or pharmacy benefit.

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels7 records

Core offering

ExEm Foam Inc. manufactures and commercializes ExEm® Foam ((air polymer-type A) intrauterine foam), the only FDA-approved contrast agent for hysterosalpingo foam sonography (HyFoSy). The product is infused into the uterus via catheter and visualized in real-time on transvaginal ultrasound to assess fallopian tube patency in women with known or suspected infertility. The company complements the contrast agent with a Clinical Adoption Program that trains providers on the HyFoSy procedure, plus pharmacy-based ordering and reimbursement support via SendRx.

Product overview

ExEm Foam Inc. offers a single flagship product: ExEm Foam ((air polymer-type A) intrauterine foam), the only FDA-approved contrast agent for hysterosalpingo foam sonography (HyFoSy). The product is used during an in-office ultrasound procedure to assess fallopian tube patency in women with known or suspected infertility. The company complements its core contrast agent with supporting services including a Clinical Adoption Program for training healthcare providers, and a SendRx-powered ordering and reimbursement platform for pharmacy fulfillment. The procedure uses standard 2D or 3D ultrasound equipment and provides real-time diagnostic results in under 15 minutes.

Differentiator

Problem solved

Functional benefit

Products and services

• ExEm Foam (air polymer-type A) intrauterine foam ExEm Foam is the only FDA-approved contrast agent for use with Trans Vaginal Ultrasound (TVUS) in hysterosalpingo foam sonography (HyFoSy) procedures. It assesses tubal patency in women with known or suspected infertility by producing approximately 127,000 micro air bubbles per ml, creating a bright echogenic image visible on 2D/3D ultrasound with or without Doppler enhancement when the foam flows through patent fallopian tubes.
• HyFoSy Clinical Adoption Program A structured training and onboarding service for fertility clinics, OBGYN practices, and hospitals implementing the HyFoSy procedure. It includes baseline ultrasound training tailored to clinic equipment (2D/3D), hands-on training with pelvic simulators, live patient training, and ongoing support from ExEm Foam Clinical Applications Specialists.
• SendRx Pharmacy Ordering and Reimbursement Service Pharmacy fulfillment and reimbursement support service operated in partnership with SendRx. Healthcare providers submit prescriptions via EMR or the SendRx portal; SendRx performs benefits verification, handles billing, and ships ExEm Foam to clinics with standard 2-day shipping. Maximum out-of-pocket cost for uninsured patients is $249.
• Reimbursement Advisor Team Support A dedicated support service that assists fertility clinics, OBGYN practices, and physicians with coding guidance, reimbursement procedures, and insurance verification for ExEm Foam procedures. Reachable via phone and email ([email protected]).

Quantifiable outcome

• Less painful than X-ray HSG (hysterosalpingography) — significantly lower pain scores
• +5 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature5 records

Partnerships

Five partnerships are on record, tiered major and core.

• Gedeon Richter Plc.majorStrategic or Co-development Partner · 20 July 2023Gedeon Richter Plc. (Budapest, Hungary) acquired 100% of Giskit MD B.V. from IQ Medical Ventures B.V. for approximately EUR 30 million. Giskit MD B.V. owns ExEm Foam and Gis-Kit assets globally excluding the US, China, and South Korea (where they are pharma products). Both products are used in more patient-friendly ultrasound examinations. Richter's CEO described this as a perfect fit for the company's specialty strategy expanding its IVF portfolio, reinforcing presence in Women's Health.
• GE HealthCarecoreTechnology or IntegrationExEm Foam partnered with GE HealthCare for the 2023 ASRM Congress, using GE Voluson Ultrasound equipment at the ExEm Foam booth for hands-on HyFoSy training. The company also uses GE Voluson ultrasound systems in its clinical demonstrations and case studies (e.g., GE Voluson Swift, GE HealthCare Voluson Ultrasound E10, GE HealthCare Voluson S8).
• SendRx (ELA Pharmacy LLC dba SendRx)coreChannel Partner/ Reseller/ DistributorSendRx is the exclusive pharmacy fulfillment partner for ExEm Foam in the US. Healthcare providers submit prescriptions via EMR or SendRx portal; SendRx handles benefits verification, billing, and 2-day shipping. Located at 1002 Bonaventure Dr, Elk Grove Village, IL 60007, NPI 1841051398. An auto-replenishment pharmacy hub is planned for early 2025.
• IQ Medical Ventures B.V.coreOthersIQ Medical Ventures B.V. is the parent company of ExEm Foam Inc. (an affiliate). IQ Medical sold Giskit MD B.V. to Gedeon Richter in July 2023. IQ Medical acts as a Life Sciences incubator and investment suite for various startups in Gynecology, Fertility, Interventional Radiology & Cardiology, and Anesthesiology. ExEm Foam Inc. is headquartered in Nashville, TN; IQ Medical is headquartered in Rotterdam, Netherlands, with a satellite office in NYC.
• University Medical Center Utrecht (The Netherlands)coreStrategic or Co-development PartnerProfessor Mark Hans Emanuel, M.D., Ph.D., co-inventor of the ExEm Foam procedure, is affiliated with the Department of Gynecology and Reproductive Medicine at University Medical Center Utrecht, The Netherlands. He has contributed to the development and clinical validation of HyFoSy, presenting at ASRM and PCRS conferences.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Hologic: Hologic is a major women's health diagnostics and imaging company with a portfolio spanning breast health, GYN surgical, and diagnostic solutions. Its scale and women's health focus make it a relevant incumbent comparable, particularly as ExEm Foam broadens from tubal patency into adjacent GYN diagnostic use cases.
• CooperSurgical: CooperSurgical is a leading women's health and fertility diagnostics/IVF consumables company serving the same OBGYN, REI, and fertility clinic customer base as ExEm Foam. Its broader portfolio of IVF media, devices, and diagnostics makes it a relevant incumbent comparable.
• FUJIFILM Irvine Scientific: FUJIFILM Irvine Scientific provides IVF and assisted reproductive technology media, devices, and diagnostics to fertility clinics globally. It targets the same fertility clinic procurement decisions as ExEm Foam and represents a relevant adjacent women's health/fertility comparable.
• Vitrolife: Vitrolife is a global IVF and reproductive health products company offering media, consumables, and devices for fertility clinics. It serves the same fertility clinic customer base and competes for share of fertility clinic wallet as ExEm Foam expands its per-clinic footprint.
• Philips (Healthcare): Philips is a global leader in diagnostic imaging including women's health ultrasound. Like GE, Philips competes broadly in ultrasound hardware and adjacent contrast workflows and serves the same OBGYN/REI end-prescribers as ExEm Foam.

Regional players

• Bracco Imaging (GISKIT franchise counterpart): Gedeon Richter (which acquired Giskit MD B.V., the ExEm Foam/Gis-Kit global rights holder ex-US/China/SK) is a major Central and Eastern European pharmaceutical company with a growing women's health and IVF portfolio. As the parent of the global ExEm Foam franchise, Richter is the most direct regional strategic comparable controlling the asset.

Emerging players

• Genea Biomedx: Genea Biomedx develops and commercializes innovative instruments, consumables, and media for IVF and fertility clinics globally. It targets the same fertility clinic customer base as ExEm Foam and represents an emerging specialty comparable in fertility diagnostics.
• GE HealthCare: GE HealthCare manufactures the Voluson ultrasound systems used to perform HyFoSy with ExEm Foam (Optison is also a GE ultrasound contrast agent). GE is both a commercial partner for training and conferences and an adjacent competitor in ultrasound imaging and contrast media.

Direct peers

• Lantheus Holdings: Lantheus manufactures Definity (perflutren lipid microspheres), one of the leading FDA-approved ultrasound contrast agents in the US market. It competes with ExEm Foam in the ultrasound contrast category broadly and shares the US regulatory-approved contrast agent positioning.
• Bracco Imaging: Bracco is a major manufacturer of ultrasound contrast agents (SonoVue/Lumason — sulfur hexafluoride microbubbles) used across multiple imaging indications. It is the most direct comparable to ExEm Foam in the ultrasound contrast agent category, though Bracco's products are not specifically indicated for tubal patency assessment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/exemfoam

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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 ExEm® Foam