Business funding news and insights

International MedTech veteran joins Ostoform board

Ostoform has announced the appointment of Stephan Bonnelycke as a non-executive Director of the company.  Stephan is a hugely experienced MedTech professional and private equity advisor with particular experience in the ostomy sector.  He was previously President and COO, Ostomy Care with Convatec where the annual turnover attributable to ostomy care was $550 million.  Prior to this, he worked for 18 years at Hollister where he had senior roles in various divisions in Europe and the US.

Ostoform is a specialist medical device business based in Mullingar in Co. Westmeath.  The company designs and manufactures medical seals for use with patients who have received a colostomy, Ileostomy or urostomy.  The company is led by CEO and founder Kevin Kelleher.  In October of last year, BGF, Ireland’s largest growth capital investor, led a €3 million equity investment in the business.  The funding round was also supported by Enterprise Ireland and existing investors including HBAN MedTech and SOS Ventures.  The company also received funding from the European Union’s Horizon 2020 Research and Innovation Programme.

The Ostoform Seal has been show to significantly reduce the risk of skin complications, positively impacting patient quality of life.  The product is exported globally, with a particular focus on the US where it is distributed by Medline.

Speaking today, Kevin Kelleher welcomed the appointment; “Stephan is one of the most experienced MedTech executives in the ostomy industry and he brings a wealth of knowledge of the global market.  He will make an invaluable contribution to the business as we continue  to scale, and we look forward to working with him closely in the months and years ahead.”

Stephan Bonnelycke said “I am delighted to be joining Kevin and his team.  Ostoform has a superb product which makes a crucial difference to the lived experience of patients and I see a very bright future for the company in the years ahead.”

Looking for funding in Ireland?

Want to join some of the most ambitious and successful companies? We’re always looking for the next brilliant business to back.