Kavanagh lends marketing experience to Nanosonics’ board

Nanosonics' (ASX:NAN) newest board member, Michael Kavanagh, believes that the company has all the ingredients to become a global success.

Kavanagh, who was this week named a non-executive director, told Australian Life Scientist that Nanosonics has the technology and the business fundamentals to succeed in the global biotech sector.

“In terms of innovation in technology, Australia hits above its weight on the global stage, and I think Nanosonics is another great example of that,” he told ALS.

“All the fundamentals are there, it's really about turning Nanosonics into a great Australian success story.”

Nanosonics develops products for the infection control market. Its first product is Trophon EPR, an ultrasound probe disinfection device which recently launched in Australia, New Zealand and the US. The company is also in the process of introducing the product into Europe.

Kavanagh, currently vice president of global marketing of Cochlear (ASX:COH) said the fact that GE Healthcare arranged to distribute Trophon EPR in North America is a testament to the product's potential.

He added that he aims to leverage his more than 20 years' experience in the healthcare industry to help Nanosonics meet the potential for Trophon EPR and future products.

“Over my career I've been involved in the introduction of a number of products in the healthcare market,” he said. “What I hope to bring to the board is a level of expertise, particularly from a marketing perspective but also from a general business perspective.”

After a peak price of $0.94 in 2011, Nanosonics (ASX:NAN) shares have been trading at around the 50 cent mark for most of 2012. The most recent trading price as of midday on Thursday was $0.51.