Watch Margaret (Peg) Fradette Meet Unmet Needs in Women’s Healthcare

ConnexionStrategies.com

Tell us about yourself, your connection to Rhode Island, and your work.

For over five decades, my career has centered around life sciences, particularly MedTech. As the FemTech founder and CEO of a women-owned Rhode Island-based medical device company, my focus is on healthcare solutions that make a difference in patient care. My family and I chose to live in Rhode Island 46 years ago, and my commitment to Narragansett remains strong, serving on various town committees, advocating for business growth, and securing grants for community improvement. I am passionate about the performing arts and continue to take weekly ballet classes.

What’s your motivation for doing this work?

I am energized by launching groundbreaking medical and surgical devices. In 2020, my small team was invited to compete in a US Air Force challenge to facilitate female aviators urinating mid-mission; we were named an award finalist in a pool of 57 submissions. We shifted our focus from aviators to addressing the needs of “the forgotten woman” – women over 60 who experience functional urinary incontinence; these women are two times more likely to need long-term care. Our design aims to meet the needs of patients and caregivers, delaying or avoiding moving from home.

In what ways do you hope to leave an impact on the Ocean State in the coming year?

Growing the life sciences sector is a strategic goal for Rhode Island, and my company focus aligns with enhancing our presence in the medical device industry and creating manufacturing jobs in the state. We have identified collaboration opportunities with several research and design firms and contract manufacturers. We plan to leverage Rhode Island’s expertise in fabric technology.

What challenges do you anticipate having to overcome to achieve these goals?

Securing funding is a significant challenge for many start-ups. We were awarded an Accelerator Grant from the New England Medical Innovation Center in 2023, and in 2024, were recognized as finalists in the Rhode Island Business Competition. While seeking angel investors, we actively apply for Rhode Island Innovation Vouchers, grants, and federal funding.

What’s your reason for optimism approaching 2025?

The feedback on our product has been overwhelmingly positive, and there’s a clear unmet need for women with functional incontinence. We have assembled an exceptional advisory board of urology doctors nationwide, and my team possesses extensive experience as commercialization experts. We’re well-equipped to compete against larger companies while advancing innovative healthcare solutions.