EQS News: Advanced Medical Balloons Appoints Top US Life Sciences Executive to Drive Business Growth

Advanced Medical Balloons Appoints Top U.S. Life Sciences Executive to Drive Company Growth

• Highly innovative German medical technology company Advanced Medical Balloons (AMB) has appointed Stephen KE Forden as General Manager for the US, to expand its market position and build strategic partnerships.
• Main product hygh-tec^® quickly gained 30% market share compared to market leader Flexi-Seal^TM in Germany and received FDA approval in 2023. hygh-tec^TM targets a global market opportunity of $200-300 million.
• Mr. Forden has more than 30 years of experience driving business growth, leading high-performing teams and developing go-to-market strategies for start-ups and global companies, including Zimmer and Convatec.

Waghäusel (Germany)), August 29, 2024 – Advanced Medical Balloons GmbH (AMB), a medical technology specialist based in Waghaeusel near Heidelberg, today announced that the company has brought on board US medical device industry veteran Stephen KE Forden as Managing Director of AMB Inc. in the US. The appointment is effective immediately. AMB has begun expanding its intensive care business into the US with a soft launch of its lead product hygh-tec^TM end of 2023, with the first significant product sales and a broad customer portfolio.

“We are very pleased to announce the appointment of Stephen KE Forden to the position of USA General Manager,” said Frank Gehres, CEO of Advanced Medical Ballons. “Stephen is a knowledgeable and capable leader with extensive experience in the medical device industry and a deep understanding of the needs and market opportunities in the critical care segment. With his excellent track record of achieving revenue growth and expanding commercial footprints, he is an excellent fit for our company.”

“I am excited to join this impressive group of experienced MedTech professionals on a mission to reimagine critical care catheter technology and improve patient outcomes in medical centers across the U.S.,” said Stephen KE Forden. “I would like to thank Frank Gehres, CEO, and David Johnson, Chairman of the Board, for this exciting opportunity. I look forward to connecting with healthcare professionals, industry partners and customers to learn how Advanced Medical Balloons can support their needs.”

In this new role, Mr. Forden will support the commercialization of AMB’s catheter technology, based on microscopically thin, complex-shaped balloon films made of polyurethane (PUR). The flagship product, hygh-tec^TM is designed for emergency care in hospitals, including intensive care units, burn units and other specialized departments, where controlling fecal output is critical. hygh-tec^TMwhich is CE marked and will receive FDA clearance in 2023, as well as MDR clearance in 2024, is a novel fecal management system that provides a safe and effective solution for the management of fecal incontinence, reducing the risk of skin breakdown and pressure ulcers. The technology represents a paradigm shift in fecal management and the critical need to reduce leakage in these intensive care units. In addition, AMB has developed a strong pipeline of unique products that address unmet clinical needs, including significantly improved endotracheal tubes for mechanical ventilation and novel urinary catheters, addressing a market potential of over $2.0 billion per year.

Prior to joining AMB, Stephen worked with many leading companies in the medical device and life sciences industries including Zimmer, Smith & Nephew Orthopaedics, Johnson & Johnson, ConvaTec and others. Stephen has held a number of senior leadership roles throughout his career including successful stints at ConvaTec as Vice President and General Manager for both the US and Asia Pacific. He was subsequently promoted to a global role as Vice President of Marketing and Sales, Continence and Critical Care. This role included commercial responsibility for ConvaTec’s Flexi-Seal^TM product line. Stephen holds a Bachelor of Business Administration degree from Wilfrid Laurier University in Waterloo, Ontario, Canada.

About advanced medical balloons

Advanced Medical Balloons (AMB) is a specialized medical technology company. The company develops and markets novel catheter technology based on microscopically thin, complexly shaped polyurethane (PUR) balloon films. AMB uses the properties of these extraordinary structures for problem-solving platform concepts in the Fecal, Urinary and Respiratory segments. The current focus is on patient contamination containment systems. In this context, AMB is developing contamination-free drainage technology for fecal treatment in intensive care patients, which offers significant advantages in nursing, hygiene management and patient therapy. The first product using this technology, hygh-tec^®is already used with great success in German-speaking countries and has also been marketed in the USA since 2023. AMB was founded in 2009 and is based in Waghäusel, near Heidelberg, Germany, and in Atlanta, GA, USA. Since 2021, the company has been financed by a strong investor syndicate led by Wellington Partners, Munich, and consisting of MIG AG and Salvia GmbH, the private investment office of Helmut Jeggle, Chairman of BioNTech SE.
https://www.amb-medtec.com/en/

Contact:
Advanced Medical Balloons GmbH
Frank Gehres, CEO
Phone: +49-7254-4039710
(email address)

Media Relations:
MC Services AG
Eva Bauer
Phone: +49-89-210228-0
(email address)

For a high-resolution photo of Stephen KE Forden, General Manager of AMB Inc. in the USA, please contact (email protected).