SomnoMed appoints joint CEOs to accelerate growth

• SomnoMed (ASX:SOM) appoints joint CEOs to accelerate growth
• SomnoMed aims to accelerate its revenue growth and profitability over the next 12 months as it plans to introduce its new Rest Assure® product
• Newly appointed Ms. Blickstead and Ms. Borg both served as Non-Executive Directors since 2020
• SOM has been trading at 40 cents

SomnoMed (ASX:SOM) has appointed Amrita Blickstead and Karen Borg as joint Chief Executive Officers (Co-CEOs) and Executive Directors, effective February 23, 2024.

Over the next 12 months, SomnoMed aims to accelerate its revenue growth and profitability.

The company is planning to introduce its new Rest Assure® product into European and US markets (pending regulatory approvals). There are also opportunities for expansion in the continuous oral appliance therapy (COAT) market.

The appointment of both Ms Blickstead and Ms Borg comes at a busy time for SomnoMed.

Ms Borg, with extensive experience in the global medical devices sector, will focus on global sales revenue across all regions. Ms Blickstead, on the other hand, known for her expertise in driving operational efficiencies and revenue growth, will oversee corporate operations, global marketing, and product development from Sydney.

Ms Blickstead and Ms Borg both served as Non-Executive Directors since 2020, bringing a wealth of knowledge and experience to their new roles. They succeed Mr. Neil Verdal-Austin, who has resigned after fifteen years of service.

SomnoMed’s chairman Guy Russo expressed confidence in the new leadership, highlighting Borg’s international healthcare experience and Blickstead’s track record of driving growth.

SomnoMed will be releasing its half-year results on February 28, 2024.

SomnoMed last traded at 40 cents.