Profound Medical (NASDAQ: PROF; TSX: PRN) has announced that it has received the 2025/2026 Mount Logan Award from INOVAIT, the Canadian national network for commercializing breakthroughs in image-guided therapy and AI.
In a statement, Raphael Ronen, co-executive director of INOVAIT, commented, “The Mount Logan Award recognizes an INOVAIT industry member who has consistently exceeded project milestone expectations, reached new heights as a Canadian company, and stood out internationally. Profound Medical has achieved significant milestones and international acclaim over the last year, including treating their 4,000th TULSA Procedure patient, securing new U.S. reimbursement codes from Medicare, and establishing strategic partnerships to expand patient access globally, and is, therefore, worthy of celebrating with the Mount Logan Award.”
The iMRI TULSA Procedure, performed using the TULSA-PRO system, represents a major advancement in prostate care, and is used by physicians to treat men with prostate cancer and/or benign prostatic hyperplasia (BPH, also known as an enlarged prostate). Robotically controlled directional ultrasound is delivered from inside the urethra to precisely and gently heat prostate tissue to ‘kill temperature’ (55-57°C), while protecting surrounding nerves and anatomy. Real-time MRI thermography enables continuous visualization and autonomous temperature adjustment throughout the procedure. This level of precision allows physicians to tailor therapy to each patient, resulting in no procedural blood loss, no overnight hospital stay, and a quicker return to everyday life, while minimizing side effects typically associated with surgery or radiation, such as urinary incontinence and/or erectile dysfunction.
Arun Menawat, CEO and chairman of Profound, remarked, “We are incredibly honored to receive this award as we work to drive widespread global commercialization of a home-grown Canadian medical innovation. While currently only one TULSA-PRO system install resides in Canada, we hope to change that moving forward as we just recently regained exclusive distribution rights in the country from a previous partner. In the meantime, the importance of that single current commercial placement in Canada can’t be overstated. Toronto’s renowned Sunnybrook Health Sciences Centre, the original innovator of the TULSA-PRO technology, has already performed more than 100 TULSA Procedures despite it not being covered by a provincial health insurance plan. Moving forward, as user interest in Profound’s technologies continues to build, we are deploying our own direct sales team in North America, while partnering with select strategic distribution partners to support the business potential and the customer base in other parts of the world.”
Mathieu Burtnyk, president of Profound, added, “We are deeply grateful to INOVAIT for supporting a vision where AI enabled, image guided therapies like TULSA-PRO are not only developed in Canada, but lead the world. That support gives companies like ours the momentum to turn bold ideas into real clinical impact.”
