Trinity Biotech Welcomes Avinash Kale as Continuous Glucose Monitor Programme Director to Advance Innovation and Development

DUBLIN, Ireland, May 08, 2024 (GLOBE NEWSWIRE) -- Trinity Biotech plc (NASDAQ:TRIB) a commercial stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors, today announced the appointment of Avinash Kale as Continuous Glucose Monitor (CGM) Programme Director. His appointment is a critical step forward in advancing the Company's recently acquired CGM technology and in driving its innovation and development to bring an advanced CGM solution to the global market.

"We are very excited to welcome Avinash to Trinity Biotech, where he will be instrumental in advancing our mission of introducing intelligent wearable biosensors, including CGMs, into markets all around the globe.  I believe that Avinash will bring a new level of knowledge and experience in the design and large-scale manufacture of advanced MedTech devices to this exciting project," said John Gillard, Chief Executive Officer. "Our plan is to expand the usage of this critical technology across the hundreds of millions of people whose health is impacted by diabetes by introducing a high quality, more affordable and lower waste CGM.  Our CGM platform leverages our recent acquisition of European regulatory approved CGM technology and our lengthy experience in global diabetes management solutions, where we currently support approximately 10 million people with diabetes annually.  We are building a world class team of top talent to execute on our ambitious plans and investing in this business so as to maximize shareholder value creation."

"I am thrilled to begin this new chapter and to embark on this pivotal and challenging role, joining the impressive Trinity team dedicated to making this state-of-art needle-free CGM solution accessible to patients worldwide. This transformational initiative promises a fast-paced, patient-centric, and innovative environment, with a strong sense of urgency to assist underserved patients affected by diabetes in improving their quality of life. I'm very excited to contribute to this meaningful and impactful endeavor," said Avinash Kale.

Mr. Kale, a seasoned MedTech R&D, PMO & Innovation leader, with extensive global industry experience recently joined Trinity Biotech's team in Ireland, from Philips Healthcare, The Netherlands. His career spans roles of increasing responsibility across Fortune 500+ firms Philips Healthcare Netherlands, Dell China, TATA India and Europe based scale-ups and start-ups. Mr. Kale has held key leadership positions, as Global Director of Engineering, Chief Technology Officer (CTO), Global Medical Device PMO, Head of Embedded Systems, R&D Program Management (PM), and Systems Engineering by steering global partners eco-system and teams across multiple sites and delivering cutting-edge solutions that drive meaningful innovations. Throughout his career, he has been a catalyst for impactful initiatives, including global product design & development, LEAN R&D, program leadership, business integration, emerging market initiatives, R&D Process innovation, product innovation, enabling technologies implementation, and transformation & change management, demonstrating his expertise in the end-to-end medical device solution life cycle.

Mr. Kale holds a degree in Electronics and Telecommunications from Pune University, India, and has successfully completed the Leading Digital Transformation in Healthcare Executive Programme from Harvard Medical School.

Forward-Looking Statements

This release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"), including but not limited to statements related to Trinity Biotech's cash position, financial resources and potential for future growth, market acceptance and penetration of new or planned product offerings, and future recurring revenues and results of operations. Trinity Biotech claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterised by the terms "may," "believes," "projects," "expects," "anticipates," or words of similar import, and do not reflect historical facts. Specific forward-looking statements contained in this presentation may be affected by risks and uncertainties, including, but not limited to, our ability to capitalize on our purchase of the assets of Waveform, our continued listing on the Nasdaq Stock Market, our ability to achieve profitable operations in the future, the impact of the spread of COVID-19 and its variants, potential excess inventory levels and inventory imbalances at the company's distributors, losses or system failures with respect to Trinity Biotech's facilities or manufacturing operations, the effect of exchange rate fluctuations on international operations, fluctuations in quarterly operating results, dependence on suppliers, the market acceptance of Trinity Biotech's products and services, the continuing development of its products, required government approvals, risks associated with manufacturing and distributing its products on a commercial scale free of defects, risks related to the introduction of new instruments manufactured by third parties, risks associated with competing in the human diagnostic market, risks related to the protection of Trinity Biotech's intellectual property or claims of infringement of intellectual property asserted by third parties and risks related to condition of the United States economy and other risks detailed under "Risk Factors" in Trinity Biotech's annual report on Form 20-F for the fiscal year ended December 31, 2023 and Trinity Biotech's other periodic reports filed from time to time with the United States Securities and Exchange Commission. Forward-looking statements speak only as of the date the statements were made. Trinity Biotech does not undertake and specifically disclaims any obligation to update any forward-looking statements.

About Trinity Biotech

Trinity Biotech is a commercial stage biotechnology company focused on  human diagnostics and diabetes management solutions, including wearable biosensors.  The Company develops, acquires, manufactures and markets diagnostic systems, including both reagents and instrumentation, for the point-of-care and clinical laboratory segments of the diagnostic market and has recently entered the wearable biosensor industry, with the acquisition of the biosensor assets of Waveform Technologies Inc. and intends to develop a range of biosensor devices and related services, starting with a continuous glucose monitoring product. The products are used to detect infectious diseases and to quantify the level of Haemoglobin A1c and other chemistry parameters in serum, plasma and whole blood. Trinity Biotech sells direct in the United States, Germany, France and the U.K. and through a network of international distributors and strategic partners in over 75 countries worldwide. For further information, please see the Company's website: www.trinitybiotech.com.