Newly Created Leadership Role Reinforces PHC Group Commitment to Diabetes Innovation
PHC Holdings Corporation (TSE:6523) (hereafter PHCHD), the parent company of Ascensia Diabetes Care, a global diabetes care company, along with Senseonics Holdings, Inc. (NYSE American: SENS), a medical technology company focused on the development and manufacturing of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes, today announced that diabetes industry veteran Brian Hansen has been appointed to the newly created role of President of CGM at Ascensia Diabetes Care, effective February 6, 2024. Ascensia is the exclusive global distributor of the Eversense E3 CGM system developed and manufactured by Senseonics.
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Mr. Hansen will be responsible for the global commercialization and growth of the innovative Eversense CGM, currently available in the U.S. and select European markets. The Eversense CGM is the industry's first and only fully implantable CGM system and allows continuous measurement of glucose levels for up to six months, compared to just one or two weeks with most CGM systems. Alongside improved longevity, this next-generation system also offers people with diabetes unique and competitive features such as a removable smart transmitter*1, discreet on-body vibe alerts, exceptional accuracy*2, and an intuitive smartphone app.
Mr. Hansen previously served as Chief Commercial Officer for Tandem Diabetes Care, where he helped transform the company into a worldwide market leader, increasing patient utilization of Tandem products in the highly competitive insulin pump market. He has built a reputation for launching innovative products and overcoming commercial challenges with complex medical and regulatory landscapes. Previously, Mr. Hansen also held leadership positions at Adaptive Biotechnologies, Genoptix, Gen Probe, and Thermo Fisher Scientific. He holds a number of advisory board positions, including for Spotlight-AQ, Luminoah and the University of Missouri.
Koichiro Sato, COO of PHCHD, known collectively with its subsidiaries as PHC Group, said, "Eversense is a game-changer for people with diabetes and is an essential part of both Ascensia's commitment to providing high-quality and life-enhancing products and PHC Group's global business strategy. Brian is ideally suited to lead our CGM business and enable us to realize the full potential of Eversense in the CGM market."
Tim Goodnow, CEO of Senseonics, said, "We are thrilled that Ascensia has built out a dedicated CGM arm to drive patient and provider adoption of Eversense. This is a testament to our partnership and the ongoing collaboration between PHCHD, Ascensia and Senseonics. We look forward to working with Brian and leveraging his extensive industry experience to catalyze the next phase of growth for Eversense. Together our top priority will be evaluating and optimizing the strategy to deliver the benefits of Eversense to the most patients globally as we work to advance the revolutionary 365-day system to the market."
Robert Schumm, President of Ascensia, added, "Our commercialization of Eversense is building momentum as we work to drive more and more awareness of the unique benefits of Eversense. We look forward to welcoming Brian to our motivated and passionate team, and expect his wealth of experience delivering breakthrough diabetes devices will help us to unleash Eversense's full commercial potential."
Eversense is a key driver of Ascensia's mission to empower people living with diabetes through solutions that simplify and improve their lives. Ascensia is also the maker of the world-renowned CONTOUR portfolio of blood glucose monitoring (BGM) systems, available in more than 100 countries. Mr. Schumm will continue in his current role while shifting focus to the company's BGM business.
Senseonics plans to provide its financial outlook for the first half of 2024 in its upcoming fourth quarter and full year 2023 earnings conference call at the end of February 2024. The full year 2024 growth outlook will be provided in the second quarter 2024 following an assessment of the current commercial plan by the new President of CGM at Ascensia Diabetes Care.
*1 There is no glucose data generated when the transmitter is removed.
*2 Garg S. et al. Evaluation of Accuracy and Safety of the Next-Generation Up to 180-Day Long-Term Implantable Eversense Continuous Glucose Monitoring System: The PROMISE Study. Diabetes Technology Therapeutics 2021; 24(2): 1-9.DOI: 10.1089/dia.2021.0182
About PHC Holdings Corporation
PHC Holdings Corporation (TSE 6523) is a global healthcare company with a mission of contributing to the health of society through healthcare solutions that have a positive impact and improve the lives of people. Its subsidiaries include PHC Corporation, Ascensia Diabetes Care Holdings AG, Epredia Holdings Ltd., LSI Medience Corporation, Mediford Corporation, and Wemex. Together, these companies develop, manufacture, sell and service solutions across diabetes management, healthcare solutions, life sciences and diagnostics. PHC Group's consolidated net sales in FY2022 were JPY 356.4 billion with global distribution of products and services in more than 125 countries.
www.phchd.com
About Senseonics
Senseonics Holdings, Inc. ("Senseonics") is a medical technology company focused on the development and manufacturing of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Senseonics' CGM systems, Eversense, Eversense XL and Eversense E3 include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user's smartphone.
www.senseonics.com/
About Eversense
The Eversense E3 CGM System is indicated for continually measuring glucose levels for up to 180 days in persons with diabetes age 18 and older. The system is indicated for use to replace fingerstick blood glucose (BG) measurements for diabetes treatment decisions. Fingerstick BG measurements are still required for calibration primarily one time a day after day 21, and when symptoms do not match CGM information or when taking medications of the tetracycline class. The sensor insertion and removal procedures are performed by a health care provider. The Eversense E3 CGM System is a prescription device; patients should talk to their health care provider to learn more. For important safety information, see www.ascensiadiabetes.com/eversense/safety-info/.
About Ascensia Diabetes Care
Ascensia Diabetes Care is a global company focused entirely on helping people with diabetes. Its mission is to empower those living with diabetes through innovative solutions that simplify and improve their lives. It is home to the world-renowned CONTOUR portfolio of blood glucose monitoring systems and the exclusive global distribution partner for the Eversense CGM Systems from Senseonics. These products combine advanced technology with user-friendly functionality to help people with diabetes manage their condition and make a positive difference to their lives. As a trusted partner in the diabetes community, it collaborates closely with healthcare professionals and other partners to ensure its products meet the highest standards of accuracy, precision and reliability, and that it conducts its business compliantly and with integrity. Ascensia is a member of PHC Group and was established in 2016 through the acquisition of Bayer Diabetes Care by PHC Holdings Corporation. Ascensia products are sold in more than 100 countries. Ascensia has around 1,300 employees and operations in 31 countries. For further information, please visit www.ascensia.com.
Forward Looking Statements
Any statements in this press release about future expectations, plans and prospects for Senseonics, including statements regarding PHC Group's building of its dedicated CGM business unit, statements regarding advancing a next-generation, 365-day CGM system to market, statements regarding growing the awareness, adoption, growth and potential of Eversense, and other statements containing the words "believe," "expect," "intend," "may," "projects," "will," "planned," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: uncertainties inherent in the ongoing commercialization of the Eversense product, uncertainties inherent in PHC Group's development of a dedicated CGM business, uncertainties inherent in Ascensia's performance and other commercial initiatives, including the ability to hire, retain and effectively incentivize the dedicated CGM workforce, uncertainties in the regulatory approval process, uncertainties in insurer, regulatory and administrative processes and decisions, uncertainties inherent in the development and registration of new technology, uncertainties relating to the current economic environment and such other factors as are set forth in the risk factors detailed in Senseonics' Annual Report on Form 10-K for the year ended December 31, 2022, the Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 and Senseonics' other filings with the SEC under the heading "Risk Factors." In addition, the forward-looking statements included in this press release represent Senseonics' views as of the date hereof. Senseonics anticipates that subsequent events and developments will cause Senseonics' views to change. However, while Senseonics may elect to update these forward-looking statements at some point in the future, Senseonics specifically disclaims any obligation to do so except as required by law. These forward-looking statements should not be relied upon as representing Senseonics' views as of any date subsequent to the date hereof.
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Contacts:
For media enquiries, please contact:
PHCHD Communications Contact
Julia Cottrill
julia.cottrill@phchd.com
Senseonics Investor Contact
Philip Taylor
Gilmartin Group
415-937-5406
Investors@senseonics.com
