MALVERN, Pa. - TELA Bio, Inc. (NASDAQ:TELA), a medical technology company specializing in soft-tissue reconstruction solutions, announced the appointment of Jeffrey Blizard to its Board of Directors, effective today. Blizard, who currently serves as the Global Head of Surgical Sales at Abiomed (NASDAQ:ABMD), brings extensive experience in medical device sales to TELA Bio's leadership.
Antony Koblish, TELA Bio's co-founder, President, and CEO, expressed enthusiasm about the new appointment, citing Blizard's proven sales leadership and his potential impact on the company's development and sales force optimization. Blizard also shared his excitement about joining the board during TELA Bio's growth phase and expressed confidence in his ability to contribute to the company's continued success.
Jeffrey Blizard's career includes a successful track record at Abiomed, where he has worked since 2017. He played a significant role in increasing sales for the company's Impella product in the surgical market, growing revenue from $16 million to $300 million over seven years.
Blizard's previous experience spans senior sales leadership positions at Medtronic (NYSE:MDT), HeartWare, Intuitive Surgical (NASDAQ:ISRG), and Boston Scientific (NYSE:BSX). In addition to his new role at TELA Bio, he is also a board member at SANUWAVE Health, Inc.
TELA Bio is known for its commitment to advanced, economically effective soft-tissue reconstruction solutions that focus on the patient's natural healing process while minimizing long-term exposure to permanent synthetic materials.
The announcement is based on a press release statement and reflects the current beliefs of TELA Bio's management. The company cautions that the forward-looking statements within the release are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results and events to differ from those anticipated.
InvestingPro Insights
In light of TELA Bio's recent board appointment and its implications for the company's growth trajectory, several metrics and tips from InvestingPro provide a clearer financial picture for investors. TELA Bio, with a market capitalization of $139.55 million, has shown impressive revenue growth over the last twelve months as of Q1 2024, with an increase of 40.03%. This growth is indicative of the company's ability to expand its reach and improve sales, which could be further enhanced by Jeffrey Blizard's expertise.
Still, despite the revenue increase, TELA Bio is grappling with profitability challenges. The company's P/E ratio stands at -3.5, reflecting that it is not currently generating net earnings. This is further supported by an InvestingPro Tip, which highlights that analysts do not expect the company to be profitable this year. Moreover, TELA Bio's Price / Book ratio as of Q1 2024 is relatively high at 9.86, suggesting that the stock may be trading at a premium compared to its book value.
On the positive side, another InvestingPro Tip reveals that TELA Bio's liquid assets exceed its short-term obligations, indicating a stable financial position in terms of liquidity. Moreover, the company has been noted to operate with a moderate level of debt, which could mean manageable financial leverage and potential for future investments in growth.
For those looking to delve deeper into TELA Bio's financials and future outlook, InvestingPro offers additional insights. There are 7 more InvestingPro Tips available, which can be accessed through https://www.investing.com/pro/TELA. To enhance your investment research, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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