EDAP Appoints Medical Capital Equipment Finance Veteran Ken Mobeck as Chief Financial Officer of Company’s U.S. Subsidiary

Rhea-AI Summary

EDAP TMS SA has appointed Ken Mobeck as Chief Financial Officer for its U.S. subsidiary, EDAP Technomed Inc. With over 25 years of experience in finance, he previously held significant roles at Accuray and Lumentum, enhancing operational performance and driving revenue growth. This strategic hire aims to bolster the company's leadership team and support the expansion of the Focal One® Robotic HIFU platform in the U.S. market, which is critical for EDAP's growth trajectory.

Positive

• Appointing Ken Mobeck as CFO may enhance strategic financial management.
• Mobeck's experience in medical devices and investor relations will support growth.
• The focus on the Focal One® platform indicates potential revenue increase.

Negative

• Transitioning leadership may pose initial challenges in continuity.
• Concern over the potential experience gap in the newly formed U.S. financial leadership.

LYON, France, December 6, 2022 -- EDAP TMS SA (NASDAQ: EDAP) (the “Company”), the global leader in robotic energy-based therapies, announced today that the Company has hired medical capital equipment finance industry veteran Ken Mobeck as Chief Financial Officer of EDAP Technomed Inc., the Company’s U.S. subsidiary. During his extensive career, Mr. Mobeck has demonstrated significant leadership expertise in driving transformational business growth while establishing a track record of creating lasting shareholder value.

Marc Oczachowski, Chairman and Chief Executive Officer of EDAP TMS, stated, “I am very pleased to welcome Ken onboard our U.S. subsidiary. Ken is a great addition to Ryan Rhodes’s leadership team and will be key to supporting the ongoing expansion of our U.S. organization and driving the continued strong growth of our business in the U.S.”

Ryan Rhodes, Chief Executive Officer of EDAP Technomed Inc., stated, “Ken is the ideal candidate to be our subsidiary’s first CFO as we begin to significantly ramp up the business with the growth of our flagship Focal One® Robotic HIFU platform. He brings over 25 years of financial leadership across all finance disciplines with extensive experience building strong relationships to drive operating results. His knowledge of capital equipment along with his medical device and investor relations experience at leading organizations, including Accuray, will be invaluable as we move forward.”

“EDAP Technomed Inc. is at a critical juncture in the organization’s growth. I’m looking forward to working with Ryan and the extended team to accelerate growth in our U.S. business and provide more patients with access to our precise, innovative Focal One robotic technology,” said Mr. Mobeck.

Prior to joining EDAP Technomed, Ken served as Vice President of Finance and Investor Relations at medical device manufacturer Accuray Incorporated (Nasdaq: ARAY), one of the leading radiation therapy companies in the industry. During his tenure with the organization, he was responsible for driving key initiatives to improve the company’s operating performance. Prior to joining Accuray, Ken served as Vice President of Finance at optical networking leader Lumentum (Nasdaq: LITE) where he helped raise $900 million in debt financing to grow the business from $900 million to more than $1.6 billion in only three years. Before Lumentum, he spent over two decades in positions with increasing levels of responsibility at some of Silicon Valley’s most innovative companies including Silicon Graphics, Hewlett Packard (NYSE: HPQ), KLA (Nasdaq: KLAC) and Intel Corporation (Nasdaq: INTC), where he was involved in high scale growth, business transformation and mergers and acquisitions. Notably, while employed at KLA, he helped grow revenue from $1.3 billion to $2.7 billion over seven years.

About EDAP TMS SA

A recognized leader in the global therapeutic ultrasound market. EDAP TMS develops, manufactures, promotes and distributes worldwide minimally invasive medical devices for various pathologies using ultrasound technology. By combining the latest technologies in imaging and treatment modalities in its complete range of Robotic HIFU devices, EDAP TMS introduced the Focal One® in Europe and in the U.S. as an answer to all requirements for ideal prostate tissue ablation. With the addition of the ExactVu™ Micro-Ultrasound device, EDAP TMS is now the only company offering a complete solution from diagnostics to focal treatment of Prostate Cancer. EDAP TMS also produces and distributes other medical equipment including the Sonolith® i-move lithotripter and lasers for the treatment of urinary tract stones using extra-corporeal shockwave lithotripsy (ESWL). For more information on the Company, please visit http://www.edap-tms.com, us.hifu-prostate.com and www.focalone.com.

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements. Such statements are based on management's current expectations and are subject to a number of risks and uncertainties, including matters not yet known to us or not currently considered material by us, and there can be no assurance that anticipated events will occur or that the objectives set out will actually be achieved. Important factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements include, among others, the clinical status and market acceptance of our HIFU devices and the continued market potential for our lithotripsy device, as well as the length and severity of the recent COVID-19 outbreak, including its impacts across our businesses on demand for our devices and services. Factors that may cause such a difference also may include, but are not limited to, those described in the Company's filings with the Securities and Exchange Commission and in particular, in the sections "Cautionary Statement on Forward-Looking Information" and "Risk Factors" in the Company's Annual Report on Form 20-F.

Company Contact
Blandine Confort
Investor Relations / Legal Affairs
EDAP TMS SA
+33 4 72 15 31 50
bconfort@edap-tms.com

Investor Contact
John Fraunces
LifeSci Advisors, LLC
212-915-2568
jfraunces@lifesciadvisors.com

 

FAQ

Who is Ken Mobeck and what is his role at EDAP?

Ken Mobeck has been appointed as Chief Financial Officer of EDAP Technomed Inc., the U.S. subsidiary of EDAP TMS SA.

What experience does Ken Mobeck bring to EDAP?

Mobeck has over 25 years of experience in finance, having worked at companies like Accuray and Lumentum, focusing on business growth and operational performance.

What does Ken Mobeck's appointment mean for EDAP's business?

His appointment is expected to strengthen financial leadership and support the growth of EDAP's Focal One® Robotic HIFU platform in the U.S.

Why is the appointment of a CFO significant for EDAP Technomed?

This is the first CFO position for EDAP Technomed, indicating a critical phase for financial strategy and operational expansion.

What is the Focal One® Robotic HIFU platform?

The Focal One® is a robotic technology for prostate tissue ablation, which EDAP aims to expand in the U.S. market under Mobeck's financial leadership.