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NEW YORK - Baird Medical Investment Holdings Ltd. (NASDAQ:BDMD), a company specializing in minimally invasive Microwave Ablation technology with impressive 88.16% gross profit margins, announced Wednesday the appointment of Mark Saxton as Chief Executive Officer of its U.S. subsidiary. The company, currently trading at a P/E ratio of just 5.09, reported $37.04 million in revenue for the last twelve months.
Saxton brings over 25 years of commercial leadership experience to the role, including a decade advancing intravascular RF ablation technologies. He will oversee all U.S. operations, including sales, marketing, and market development as the company expands its presence in the U.S. market.
"His proven track record of taking novel technologies to market leadership, deep experience in the thermal ablation space and his history of creating significant shareholder value make him the ideal leader for this critical phase of our growth," said Haimei Wu, Chairwoman of Baird Medical, in a press release statement.
Saxton previously led U.S. commercialization of intravascular RF ablation devices at VNUS Medical Technologies, where he doubled annual revenue from $49 million to over $100 million in just over two years before the company’s $512 million acquisition by Covidien.
His career also includes commercial leadership at NeuroPace during its $117 million IPO and at Ceterix Orthopaedics, where he repositioned the business for a $105 million acquisition by Smith + Nephew.
Baird Medical describes itself as a market leader in China for thyroid microwave ablation devices and consumables, with its minimally invasive treatment products expanding commercial presence in over 20 countries worldwide. Despite its strong market position and trading at just 0.91 times book value, BDMD’s stock has fallen 68.6% over the past six months. InvestingPro analysis indicates the company is currently undervalued based on its Fair Value assessment, with 13+ additional ProTips available for subscribers seeking deeper insights.
In other recent news, Baird Medical Investment Holdings Ltd. has successfully entered the Egyptian market. The company announced that it performed its first microwave ablation procedure at Ain Shams Specialized Hospital. The procedure involved treating a 30-year-old male patient with a bone lesion in his left thigh. Dr. Amr Mahmoud conducted the treatment, which reportedly achieved full ablation and provided pain relief. This development marks a significant step for Baird Medical as it expands its medical procedures internationally. The company’s move into Egypt is part of its broader strategy to extend its reach in the global healthcare market. Baird Medical’s expansion into new territories could potentially open up more opportunities for similar medical interventions in the region.
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