Nemaura Medical, Inc. (NASDAQ:NMRD) has announced its second management appointment of the week, naming Thomas Mortensen as head of EU commercial operations and marketing.
In Thursday's statement, Nemaura CEO Dr Faz Chowdhury commented: “Tom is an important addition to our team, as he will head up our operations in the E.U for our planned direct to consumer product. His extensive experience throughout Europe will help us determine the best way to position our products for country-specific audiences, and we look forward to his leadership and guidance as we ramp up our marketing activities,”
On Monday, Nemaura announced the appointment of Jay L. Warner, a 30-year veteran of the healthcare industry, as its head of US commercial operations.
Nemaura noted that Mortensen has spent more than 25 years in commercialization and marketing for the medical device industry, mostly connected with cardiovascular disease and diabetes. Most recently he served as head of marketing at Roche Diabetes Care, where he oversaw the digitalization of its organization, creating a more efficient and successful working group. In addition, he held leadership positions at Sunshine Heart, Inc., Mivi Neuroscience, BG Medicine, Inc., Circulite, Inc., and ev3, Inc. He holds a Bachelor of Science degree from the Southern Denmark Business School and an MBA from Odense University, Denmark.
“I look forward to working with the Nemaura team to bring what I believe is an innovative approach to diabetes care, with a clear history of clinical evidence to back it up. The integration of behavioral modification and a wearable, disposable device to closely monitor glucose trends is a brand new and non-invasive methodology to truly impact the well-being of people with diabetes and pre-diabetes,” Mortensen said.
Nemaura is a medical technology company developing and commercializing non-invasive wearable diagnostic devices. The company is currently commercializing sugarBEAT and proBEAT. sugarBEAT, a CE mark approved Class IIb medical device, is a non-invasive and flexible continuous glucose monitor (CGM) providing actionable insights derived from real-time glucose measurements and daily glucose trend data, which may help people with diabetes and pre-diabetes to better manage, reverse, and prevent the onset of diabetes.
Nemaura has submitted a PMA (Premarket Approval Application) for sugarBEAT to the US Food & Drug Administration (FDA). proBEAT combines non-invasive glucose data processed using artificial intelligence and a digital healthcare subscription service and is expected to be launched in the U.S. as a general wellness product.
The company sits at the intersection of the global Type 2 diabetes market that is expected to reach nearly $59 billion by 2025, the $50-plus billion pre-diabetic market, and the wearable health-tech sector for weight loss and wellness applications that is estimated to reach $60 billion by 2023.
Contact the author at jon.hopkins@proactiveinvestors.com