UK ostomy business appoints industry leader as non-executive director

Written by: Nola Cadman
Published On: 12 Nov 2020

November, 2020 – UK-based ostomy specialist Trio Healthcare (“Trio”) 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.”

 

About Trio Healthcare

Trio Healthcare was founded in 2006 and CEO Lloyd Pearce has been with the business since the start. A leader in stoma care, the company focuses on addressing the unmet needs of ostomates around the world, improving quality of life with its advanced healthcare technology. Trio, which won the Queen’s Award for Enterprise 2011 and 2018, hold patents for a novel silicone-based breathable technology, developed to be gentler to the skin and reduce healthcare spending.

Trio Healthcare has offices in Knutsford, Cheshire and a manufacturing site in Skipton, North Yorkshire.

Richard Anderson and Spencer Kerry acquired a majority stake in Trio and joined the Board in October 2019, having previously been an integral part of the management team behind Crawford Healthcare, the innovative wound care business based in Cheshire. Established by Anderson in 2009, Crawford grew successfully from a small North West company to an international organisation with 150 employees, innovating rapidly and breaking into the notoriously difficult US healthcare market and achieving revenues of more than £30m, until its award-winning $126m sale to US-based Acelity, the biggest advanced wound care company globally, in June 2018.