Cambridge based Inotec AMD has appointed Craig Kennedy as its new CEO.
Inotec AMD is a maker of mobile medical devices designed to heal chronic, hypoxic wounds that afflict millions of sufferers around the world every year.
The global wound-care market is projected to grow to $18.3 billion globally in 2019, driven in part by changing life styles and ageing populations in many countries.
There are some 400 million diabetes sufferers around the world, some 60 million of whom are likely to develop a lower limb ulcer.
As more than 90% of wounds suffer from a lack of oxygen, the launch of NATROX addresses this serious concern with a simple, cost-effective application, which treats a broad spectrum of chronic health problems.
Craig Kennedy brings on board a proven track record of building business in the wound care space. Most recently, he was CEO of MolecuLight, a Toronto Canada based wound care start up that developed and launched a imaging device capable of detecting bacteria in wounds.
Prior to MolecuLight, Kennedy was VP of Business Development and Strategy for Systagenix and was a key member in the divestiture of the business to Acelity. Kennedy has more than 25 years of progressive experience in the medical device and pharmaceutical industry.
Dr Adrian Parton MBE, Chairman of Inotec AMD said: "The board of directors are pleased to announce the appointment of Craig Kennedy who will be starting his new role as CEO of the company in March and we believe that his extensive global experience of the wound care market will help the company drive the growth of Inotec AMD's novel oxygen therapy products on a global basis."
Kennedy said: "I am excited to lead the Inotec AMD team at this exciting time. NATROX is a excellent product with great potential to positively impact the lives of millions of people living with debilitating chronic wounds. The industry is ripe for the introduction of clinically effective active therapy to improve the lives of millions living with these wounds."
Inotec continues to develop a world class team and is preparing to launch the product into the US market during 2018.