Nemaura Medical Appoints Thomas Mortensen as Head of E.U. Commercial Operations and Marketing
Nemaura Medical (Nasdaq: NMRD) announces the appointment of Thomas Mortensen as head of E.U. commercial operations and marketing. With over 25 years in the medical device sector, notably at Roche Diabetes Care, Mortensen is expected to enhance the company's marketing strategy for its direct-to-consumer products in Europe. Nemaura is advancing its sugarBEAT® continuous glucose monitor and preparing to launch proBEAT™ in the U.S. The diabetes market is projected to reach approximately $59 billion by 2025, positioning Nemaura for significant growth.
- Appointment of Thomas Mortensen to head E.U. operations enhances leadership and strategic marketing.
- Extensive experience in the medical device industry positions Nemaura to effectively reach European audiences.
- Nemaura's products are well-positioned in a growing global diabetes market expected to reach $59 billion by 2025.
- Dependency on successful product launches and regulatory approval for both sugarBEAT® and proBEAT™.
- Potential risks related to product classification as a general wellness product by the FDA, which could impact market entry.
Loughborough, England, Feb. 04, 2021 (GLOBE NEWSWIRE) -- Nemaura Medical, Inc. (Nasdaq: NMRD) (“Nemaura” or the “Company”), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, today announces the appointment of Thomas Mortensen as head of E.U. commercial operations and marketing.
“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,” said Faz Chowdhury, Ph.D., Nemaura’s CEO.
Mr. 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,” added Mr. Mortensen.
About Nemaura Medical, Inc.
Nemaura Medical Inc. 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 U.S. 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
For more information, please visit www.NemauraMedical.com.
Cautionary Statement Regarding Forward-Looking Statements:
The statements in this press release that are not historical facts may constitute forward-looking statements that are based on current expectations and are subject to risks and uncertainties that could cause actual future results to differ materially from those expressed or implied by such statements. Those risks and uncertainties include, but are not limited to, the launch of proBEAT™ in the US, risks related to regulatory status and the failure of future development and preliminary marketing efforts, Nemaura’s ability to secure additional commercial partnering arrangements, risks and uncertainties relating to Nemaura and its partners’ ability to develop, market and sell proBEAT™, the availability of substantial additional equity or debt capital to support its research, development and product commercialization activities, and the success of its research, development, regulatory approval, marketing and distribution plans and strategies, including those plans and strategies related to both proBEAT™ digital health, and sugarBEAT®. There can be no assurance that the company will be able to reach a part of or any of the global market for CGM with its products/services. The FDA reserves the right to re-evaluate their decision that proBEAT™ qualifies as a general wellness product should it become aware of any issues such as skin irritation or other adverse events from the device, as well as any misuse impacting patient safety, and any other reason as the FDA may see fit at its discretion to determine the product does not fit the definition of a general wellness product. These and other risks and uncertainties are identified and described in more detail in Nemaura’s filings with the United States Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the most recently completed fiscal year, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. Nemaura undertakes no obligation to publicly update or revise any forward-looking statements.
Contact:
Jules Abraham
CORE IR
917-885-7378
julesa@coreir.com
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