EDAP Appoints New Executive Leaders to Strengthen Europe and Middle East Commercial Operations
New appointments bring significant commercial experience with a focus on growing key strategic markets
Expands executive leadership in growing disruptive, robotics-based capital equipment in both Urology and Gynecology therapeutic applications
LYON, France, June 3, 2024 - EDAP TMS SA (NASDAQ:EDAP), the global leader in robotic energy-based therapies, today announced the appointments of Damien Desmedt and Alexander Fromm to further strengthen the Company's European and Middle Eastern commercial leadership. Mr. Desmedt has been appointed Vice President of Sales for Europe, Middle East, Africa, and India (EMEAI), and Mr. Fromm has been appointed General Manager for Switzerland and will oversee several strategic European territories.
"We are pleased to announce the expansion of our international commercial leadership team with the appointments of Damien Desmedt and Alexander Fromm, both of whom have extensive experience in commercializing disruptive, robotics-based capital equipment in the urology and gynecology markets," said Ryan Rhodes, Chief Executive Officer of EDAP TMS. "Our company's highest strategic priority is to grow our leading robotic HIFU technology platform, Focal One, by building out world-class commercial operations and infrastructure. Damien and Alex each possess a unique blend of talent, experience, and market knowledge that will help us grow Focal One adoption in the management of prostate cancer, while also preparing us to expand robotic HIFU applications for addressing a significant unmet need in women's health."
Damien Desmedt brings to EDAP more than 30 years of responsibility in leading companies in the field of innovations in healthcare with an expertise in the field of minimally invasive and robotic surgery. Prior to joining EDAP, Mr. Desmedt held several senior executive positions with Intuitive Surgical, most recently serving as Vice President and General Manager of Intuitive Surgical for key European markets, where he was responsible for driving top line growth while improving both business efficiencies and profits. During his tenure as Vice President and General Manager, Mr. Desmedt oversaw several strategic departments including sales, marketing, and market access which led to an increased number of da Vinci systems being placed and procedures being performed in key European markets. Earlier in his career, Mr. Desmedt served as Regional District Manager with Medtronic, where he successfully developed and led a sales and engineering team within the Cardiovascular Rhythm Management group. Prior to Medtronic, he served as Business Unit Manager Sales & Marketing with Covidien.
Alexander Fromm has over 25 years of experience within the medical device and technology industries and is a seasoned executive leader with a proven track record in general and commercial management. Mr. Fromm has significant experience across multiple technologic and therapeutic areas, including robotic surgery technologies in both laparoscopy and microsurgery (da Vinci® & Symani®). Mr. Fromm most recently served as General Manager, Switzerland for Duomed, where he was responsible for leading a team that facilitated the transition of newly acquired products and businesses into the Duomed Group. Prior to joining Duomed, Mr. Fromm was a Senior Director of Commercial Development with Medical Microinstruments MMI, where he was responsible for the successful launch of the Symani® Microsurgical Robot in Europe. Prior to joining Medical Microinstruments MMI, Mr. Fromm spent several years with Intuitive Surgical, where he held multiple leadership roles across capital sales, clinical sales, and marketing. Prior to joining Intuitive Surgical, Mr. Fromm served as Business Unit Manager, Surgical Technologies with Medtronic.
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 within the meaning of applicable federal securities laws, including Section 27A of the U.S. Securities Act of 1933 (the "Securities Act") or Section 21E of the U.S. Securities Exchange Act of 1934, which may be identified by words such as "believe," "can," "contemplate," "could," "plan," "intend," "is designed to," "may," "might," "potential," "objective," "target," "project," "predict," "forecast," "ambition," "guideline," "should," "will," "estimate," "expect" and "anticipate," or the negative of these and similar expressions, which reflect our views about future events and financial performance. 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 and distribution divisions, as well as risks associated with the current worldwide inflationary environment, the uncertain worldwide economic, political and financial environment, geopolitical instability, climate change and pandemics like the COVID 19 pandemic, or other public health crises, and their related impact on our business operations, including their impacts across our businesses or demand for our devices and services.
Other factors that may cause such a difference may also 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.
Forward-looking statements speak only as of the date they are made. Other than required by law, we do not undertake any obligation to update them in light of new information or future developments. These forward-looking statements are based upon information, assumptions and estimates available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete.
Company Contact
Blandine Confort
Investor Relations / Legal Affairs
EDAP TMS SA
+33 4 72 15 31 50
[email protected]
Investor Contact
John Fraunces
LifeSci Advisors, LLC
(917) 355-2395
[email protected]
