Profound Medical Earns Top Award as Prostate Therapy Gains US Market Traction

TORONTO, ON – February 12, 2026 – Profound Medical Corp., a Toronto-based innovator in medical technology, has received the prestigious 2025–2026 Mount Logan Award from INOVAIT, Canada's national image-guided therapy network. The award recognizes the company's groundbreaking TULSA Procedure™, a minimally invasive treatment for prostate disease that is rapidly gaining international acclaim and significant commercial momentum, particularly in the United States.

The Mount Logan Award celebrates Canadian companies that have surpassed expectations and achieved global recognition. "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," said Raphael Ronen, co-executive director of INOVAIT. He noted the company is "worthy of celebrating" for its achievements.

The honor underscores a pivotal moment for Profound Medical, validating its technology while a new, highly favorable reimbursement structure in the U..S. promises to accelerate its adoption as a mainstream treatment option for men with prostate cancer and enlarged prostates.

A New Standard in Prostate Care

The TULSA Procedure™, performed using the TULSA-PRO® system, represents a significant departure from traditional prostate treatments like radical surgery and radiation. It is an incision-free, radiation-free outpatient procedure that combines real-time MRI guidance with robotically controlled, directional ultrasound to ablate diseased prostate tissue.

The technology works by delivering ultrasound energy from a device placed within the urethra, heating and destroying targeted tissue with surgical precision. Throughout the procedure, real-time MRI thermography provides physicians with a continuous view of the prostate, allowing an AI-enhanced system to autonomously control the temperature and ensure it remains within the therapeutic window of 55-57°C. This closed-loop feedback mechanism is designed to protect surrounding critical structures, including nerves responsible for sexual function and the sphincter that controls urinary continence—two major areas of concern with conventional therapies.

Clinical data and patient reports highlight the procedure's key benefits: no procedural blood loss, no overnight hospital stay, and a quick recovery. For many men facing a prostate cancer diagnosis or suffering from benign prostatic hyperplasia (BPH), the TULSA Procedure offers an alternative that aims to minimize the life-altering side effects often associated with more invasive treatments. Its versatility is also a key differentiator, allowing physicians to customize treatment—from ablating a small, focal lesion to treating the entire gland—for a wide range of prostate sizes and disease stages.

Unlocking the U.S. Market with Favorable Reimbursement

While the INOVAIT award celebrates Canadian innovation, Profound Medical's most significant commercial catalyst lies south of the border. Effective January 1, 2025, the U.S. Centers for Medicare & Medicaid Services (CMS) established three new Category I Current Procedural Terminology (CPT) codes for the TULSA Procedure. This move is critical for securing widespread reimbursement from both public and private insurers.

More importantly, CMS elevated the procedure to Urology Ambulatory Payment Classification (APC) Level 7. This designation makes TULSA-PRO the highest-reimbursed prostate treatment in its category, with a national average hospital payment of $12,992. This rate is over 40% higher than competing minimally invasive treatments like High-Intensity Focused Ultrasound (HIFU) and Aquablation, and approximately 25% higher than robotic prostatectomy in the hospital outpatient setting.

The financial incentive for providers is further strengthened by the procedure's 0-day global period. Unlike many other treatments that bundle 90 days of post-operative care into a single payment, TULSA's reimbursement covers only the day of the procedure. This allows physicians to bill separately for subsequent follow-up visits, creating a more favorable revenue model for hospitals and ambulatory surgical centers. This strategic reimbursement victory provides a powerful incentive for U.S. healthcare facilities to invest in and offer the TULSA-PRO system.

A Canadian Innovation's Journey Home

Despite its Canadian roots and Health Canada approval, the TULSA Procedure's journey to adoption at home has been slower. The technology was originally developed at Toronto's renowned Sunnybrook Health Sciences Centre, yet Sunnybrook remains the only facility in Canada with a commercial TULSA-PRO system. The primary hurdle is the lack of coverage under provincial health insurance plans, which has limited its accessibility.

Nonetheless, Sunnybrook has performed over 100 procedures, demonstrating patient demand for the innovative treatment even when paid for out-of-pocket. Profound Medical is now making a concerted effort to change this landscape. The company recently regained exclusive Canadian distribution rights from a former partner and is deploying its own direct sales team across North America.

"We are incredibly honored to receive this award as we work to drive widespread global commercialization of a home-grown Canadian medical innovation," said Arun Menawat, Profound Medical’s CEO and Chairman. "While currently only one TULSA-PRO system install resides in Canada, we hope to change that moving forward... In the meantime, the importance of that single current commercial placement in Canada can’t be overstated."

Commercial Growth and Future Outlook

The award and the U.S. reimbursement breakthrough come as Profound Medical demonstrates strong commercial momentum. The company's installed base has grown to 70 TULSA-PRO systems, with a target of at least 75 by the end of 2025. This expansion is reflected in its financial performance, with revenue for the third quarter of 2025 reaching approximately $5.3 million, an 87% increase over the same period in the prior year.

While the company continues to operate at a net loss—a common scenario for commercial-stage medtech firms investing heavily in growth—its improving gross margins and growing sales pipeline suggest its strategy is gaining traction. The treatment has now been used on over 4,000 patients, with data showing its application across a broad spectrum of prostate cancer grades and BPH cases.

The support from organizations like INOVAIT is seen as crucial for nurturing such advancements from concept to clinical reality. "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,” added Mathieu Burtnyk, Profound Medical’s President. "That support gives companies like ours the momentum to turn bold ideas into real clinical impact."