Advanced Medical Balloons appoints top-performing US life-science executive to drive business growth – Biotech Investments

Advanced Medical Balloons appoints top-performing US life-science executive to drive business growth

• German highly innovative med-tech Advanced Medical Balloons (AMB) has named Stephen K.E. Forden as USA General Manager to expand market presence and build strategic partnerships.
• Lead product hygh-tec^® quickly gained 30% share against market leader Flexi-Seal^TM in Germany and has received FDA approval in 2023. hygh-tec^TM addresses a $ 200-300 million market opportunity globally.
• Mr. Forden brings over 30 years experience driving business growth, leading high-performing teams, and developing market strategies for startups and global companies including Zimmer and Convatec.

Waghaeusel (Germany), August 29, 2024 – Advanced Medical Balloons GmbH (AMB), a specialist in medical technology from Waghaeusel near Heidelberg, today announced that the company has brought US-based medical device industry veteran Stephen K. E. Forden on board as USA General Manager of AMB Inc.. The appointment is effective immediately. AMB began expanding its intensive care business to the United States with a soft launch of its lead product hygh-tec^TM in late 2023, establishing first significant product sales and a broad customer pipeline.

“We are very happy to announce the appointment of Stephen K. E. 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 sector and has a deep understanding of the needs and market opportunities in the critical care segment. With his excellent track record in achieving revenue growth, and expanding commercial footprints, he is a great fit for our company.”

“I am delighted to join this impressive group of experienced MedTech professionals on a mission to rethink catheter technology for critical care and improve patient outcomes at medical centers across the US,” said Stephen K. E. Forden. “I’d like to thank Frank Gehres, CEO, and David Johnson, Chairman of the Board of Directors, for this exciting opportunity. I look forward to connecting with healthcare professionals, industry partners, and customers to explore how Advanced Medical Balloons can support their needs.”

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

Prior to joining AMB, Stephen has worked with many prominent companies in the medical device and life sciences industry, including Zimmer, Smith & Nephew Orthopaedics, Johnson & Johnson, ConvaTec, and others. Stephen had held various senior leadership roles throughout his career including successful assignments at ConvaTec as Vice President and General Manager for both the USA and Asia Pacific. He was then promoted to a global role as the 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, complex shaped balloon films made of polyurethane (PUR). AMB taps the properties of these extraordinary structures for problem-solving platform concepts in the Fecal, Urinary and Respiratory segments. The current focus is on systems for the containment of patient contamination. In this context, AMB is developing contamination-free drainage technology for fecal management in intensive care patients, which provides significant benefits in nursing, hygiene management and patient therapy. The first product utilizing this technology, hygh-tec^®, is already used in German-speaking countries with great success and since 2023 also marketed in the USA. 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 comprising MIG AG as well as Salvia GmbH, the private investment office of Helmut Jeggle, Chairman at BioNTech SE.
https://www.amb-medtec.com/en/

Contact:       
Advanced Medical Balloons GmbH
Frank Gehres, CEO
Phone: +49-7254-4039710
frank.gehres@amb-medtec.de    

Media relations:
MC Services AG
Eva Bauer
Phone: +49-89-210228-0
advancedmedicalballoons@mc-services.eu

For a high-resolution picture of Stephen K. E. Forden, USA General Manager of AMB Inc., please contact advancedmedicalballoons@mc-services.eu.