Belluscura (BELL ) has appointed Jim Clement as its Head of Commercial Strategy, an expert in the durable medical equipment industry, to see the group through its next phase of growth.
Mr Clement, who has over 30 years’ experience within the medical equipment industry, previously held the title of General Manager of a portable oxygen concentrator company.
Over an extensive career, Clement has held leadership positions in all areas of medical device manufacturing, particularly focused on Commercial Operations and Global Product Development of oxygen therapy devices, the medical device developer told investors.
Robert Rauker, CEO of Belluscura commented: “We are very excited to have Jim join our team. His extensive knowledge of the industry will be a valuable asset to the Company.”
Clement said himself: “I’m looking forward to working with the Belluscura Team as we take their revolutionary technology through the next phase of growth and focus on patient care.”
Last week, Belluscura, which develops medical devices such as lightweight and portable oxygen enrichment technology, signed a manufacturing agreement with InnoMax Medical Technology, to manufacture its X-PLO2R® portable oxygen concentrator across China.
This latest agreement is expected to more than double the company’s manufacturing capacity while accelerating its international expansion “across the Asian markets in 2023 and beyond.”
The commercialisation and distribution in Asia are expected to occur no later than 1Q23 and Belluscura intends to manufacture both the company’s next generation X-PLO2R® oxygen concentrator and the next portable oxygen concentrator in its portfolio, the DISCOV-R™.
Belluscura’s devices are designed to address a market need: According to the World Health Organisation (“WHO”), over 1 billion people in the world suffer from chronic respiratory issues.
Overall, the global oxygen therapy market size is expected to grow at a significant CAGR of 10.12% from 2021 to 2026 to be worth $18.55 billion by 2026. The global portable oxygen concentrators market is forecast to be worth $2.76 billion by 2026 - that’s a CAGR of 14%.
In China alone, nearly 100 million people suffer from chronic obstructive pulmonary disease (“COPD”). This is 400% larger than the total US COPD population, and it is estimated to be the third leading cause of death in China. Beyond this market, there are an estimated 50 million cases of COPD in India and over 5 million people in Japan suffering from COPD.
Commenting on the news Robert Rauker, CEO of Belluscura, told investors: “The agreement will more than double our manufacturing capacity and will provide access to the significantly larger Asian market - in China alone there are five times the COPD cases than in the US.”
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