Osteopore adds former ResMed executive Carl Runde to its board
Osteopore’s chief executive officer Goh Khoon Seng said Mr Runde’s “significant” expertise will be “invaluable” to the company.
Osteopore (ASX: OSX) has boosted its board with the appointment of highly experienced and former ResMed (ASX: RMD) executive Carl Runde to the role of chief financial officer.
According to Osteopore, Mr Runde has worked in the international medical device industry for more than 20 years with roles including financial analysis, valuation modelling and strategic business planning.
While with ResMed, Mr Runde was vice president finance – corporate systems. He held executive finance positions with the company between 2003 and 2019 – working within multiple divisions across the Asia Pacific.
Also listed on the NYSE and with a current market cap of almost $10 billion, ResMed is major medical device company that provides cloud-connected devices for treating sleep apnoea and respiratory disorders.
Recently Mr Runde completed his PhD and has provided interdependent financial consulting services for medical technology start-ups.
In joining Osteopore, Mr Runde will be based in Sydney and will be responsible for all the company’s financial operations – focusing on facilitating growth. He will also manage Osteopore’s investor relations and corporate communications while ensuring sustainable stakeholder value.
Osteopore’s chief executive officer Goh Khoon Seng said Mr Runde’s “significant” expertise will be “invaluable” to the company as it continues its development and growth strategies.
As part of Mr Runde’s appointment, executive director Geoff Pocock will transition to a non-executive role over the coming months.
Bone healing scaffold distribution deal, continued growth
Today’s appointment follows Osteopore’s news it has secured a three-year distribution deal with Australian-owned LMT Surgical.
Under the deal, LMT Surgical has agreed to promote and sell Osteopore’s 3D-printed bioresorbable bone scaffold products to oculoplastic and neurosurgical fields in Australia and New Zealand.
Osteopore’s products have Therapeutic Goods Administration approval and gained prosthesis list reimbursement codes. This enables LMT Surgical to begin immediately engaging with doctors and hospitals across private and public sectors.
Meanwhile, in its latest September quarterly report, Osteopore revealed “encouraging sales growth” with revenue increasing to more than $408,000, despite COVID-19 challenges.
The September 2020 quarter revenue was 40% higher on the corresponding 2019 period.