UK-based ostomy specialist Trio Healthcare has appointed experienced medtech industry veteran Douglas Le Fort to its board as non-executive director, as the business continues to make significant progress in its domestic and international growth ahead of key upcoming product launches.
Mr Le Fort’s extensive career in medical devices includes eight years with Convatec Group Plc where, amongst other roles, he served on their Executive Leadership Team, initially with global profit & loss responsibility for its Ostomy Care business. More recently, he acted as Senior VP for Corporate Development, with responsibility for M&A strategy for the Convatec Group, as well as being the executive committee member with responsibility for the 2016 IPO process.
Mr Le Fort joins Trio following the company’s recent multimillion pound funding from US finance company SWK Holdings. In 2019, healthcare executives Richard Anderson and Spencer Kerry, former CEO and CFO of advanced wound care company Crawford Healthcare, took a majority stake in the business, working with CEO Lloyd Pearce to build a fully integrated ostomy business with international reach.
The appointment of Mr Le Fort represents a major milestone in the rapid commercial development of the business in preparation for the launch of a world-first silicone ostomy product in early 2021, utilising Trio’s proprietary and patented breathable silicone technology (Sil2TM) with the potential to transform the lives of ostomy patients worldwide.
Le Fort commented: “Trio is a unique business in the ostomy market and I believe it is poised to make a huge difference to the lives of ostomates over the coming years. Trio has succeeded in product development where I believe all other ostomy companies have failed, and when its patented technology comes to market shortly, I believe it will deliver true innovation as well as significantly better outcomes for patients globally. I am genuinely excited to join the team at such a key time along its journey and aim to use my experience and contacts to benefit Trio as it continues its rapid growth.”
Lloyd Pearce, founder and CEO of Trio, said: “The Trio team is delighted to have appointed Douglas to the Board, at a pivotal moment as we push forward with our product development plans. We remain on track to launch the first in a series of ground-breaking products early next year, which we firmly believe will transform the ostomy market and, importantly, people’s lives. I have known Douglas for a number of years and am excited by the impact he is going to make on the trajectory of the business.”
Richard Anderson, Chairman of Trio, said: “The ostomy market is estimated to be worth $3 billion globally, growing at 4% annually, but has seen little innovation over the past decade. The stage is set for a company that is truly motivated to use new technology to transform ostomates’ lives. Our first-to-world product, to be launched in the coming months, represents not only a transformational step forward for our company, but provides that rare opportunity to disrupt an established market. We are delighted to have attracted a business leader of the calibre of Douglas to help us on the journey of making a difference to ostomates’ lives and ultimately growing the value of the business.”
10th November 2020