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Women’s health tech exists in a unique space, with a huge need, but investors often look the other way. Tracy MacNeal doesn’t sugarcoat this reality. At Materna Medical, she’s tackling pelvic floor conditions that affect millions whilst pushing for bigger changes in how we actually measure success.
Her company goes beyond just making devices. MacNeal aims to revolutionise how the entire system approaches women’s health outcomes. She’s betting that real change happens when we stop focusing only on survival rates and start caring about the quality of life-the things that actually matter to women living with these conditions.
Materna zeros in on pelvic health, where real need meets actual market opportunity. MacNeal spotted vaginal delivery as the key moment-that’s where their Ellora device steps in, aiming to prevent pelvic floor injuries. The EASE trial data have doctors paying attention because they’re finally seeing the long-term damage these injuries cause. “Right now, the clearest intersection of clinical need and commercial traction is in pelvic floor injury reduction during childbirth,” MacNeal says. “Vaginal delivery is a pivotal moment in a woman’s pelvic health journey.”
Their first win, Milli, tackles vaginismus-a condition which makes sex painful or impossible, affecting up to 17% of American women. Despite its prevalence, it is not well understood. MacNeal takes the challenger view: when you solve problems others overlook, you can create real market movement.
MacNeal wants to flip how we measure women’s health success completely. The current system obsesses over survival numbers and quick recovery stats, missing what patients actually care about-sexual health, daily function, long-term wellbeing. This gap screws up everything from trial design to insurance coverage.
Today’s regulatory world loves anatomical measurements over functional ones, which creates barriers for different patient groups. MacNeal pushes for pain reduction, sexual function, and getting back to everyday life as objective evidence standards.“To make care fairer for women, the first thing that must change is how outcomes are defined,” she explains. “Once we shift the lens on what success looks like, we can build better studies and drive reimbursement models that support comprehensive care.”
Securing funding for women’s health requires specific key performance indicators. MacNeal knows clinical validation, regulatory progress, and clear payment pathways matter, but what really closes deals is showing how solutions fit into existing workflows and create lasting value.
Pelvic health problems stretch across decades, hitting productivity, healthcare costs, and quality of life. Early fixes during childbirth or treating conditions like vaginismus pay off both now and later. “Smart capital partners recognise that investing in women’s health isn’t just a moral imperative-it’s a market opportunity with both immediate and enduring returns,” MacNeal notes. Investors who understand the market’s depth see opportunities to transform entire categories, not just grow individual companies.
MacNeal picks partnerships over buyouts when both sides bring different strengths but need room to innovate. In women’s health, where markets are still developing and clinical paths are constantly evolving, partnerships enable companies to co-develop and co-sell without rigid integration.
Red flags typically emerge early: mismatched timelines, clashing cultures, and differing priorities. MacNeal spots trouble when potential partners chase short-term wins while she’s building long-term clinical value. “A partnership creates value when both parties bring complementary strengths and a shared vision-but need flexibility to innovate independently,” she explains. Good partnerships require partners who understand pelvic health, its complexity, and share equity goals.
New technologies could massively improve access and outcomes over the next three years. MacNeal sees opportunities where device innovation meets digital platforms and care delivery models, extending reach beyond traditional clinical settings through remote monitoring and personalised recovery apps.
The sweet spot hits where devices create meaningful data, digital tools make that data personal, and care models adapt to support patients completely. MacNeal aims for partnerships with digital health platforms focused on maternal health and health systems committed to value-based care.
“The most useful meeting point is where devices generate meaningful data, digital tools interpret and personalise that data, and care delivery models adapt to support patients holistically,” she concludes. These collaborations can scale access and reduce disparities.
“Ultimately, we’re not just building devices, we’re building trust,” she says, living by Reba McEntire’s wisdom that “to succeed in life, you need a wishbone, backbone, and funny bone.”
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