Navamedic: New Chairman and member of the Board of Directors

Oslo, 16. January 2017 - The Extraordinary General Meeting of Navamedic ASA (OSE: NAVA) has elected Kathryn M. Baker as Chairman of the Board of Directors and Jostein Davidsen as a new board member.

"It is an honour to assume the position as Chairman of the Navamedic Board of Directors. I look forward to working with the Board and the management team, as we continue to leverage on our strategy to deliver long-term growth, and maximize the potential of Navamedic's product portfolio, partnerships and the commercialization of Sippi," says Kathryn M. Baker.

Kathryn M. Baker brings extensive board experience to the Chairman position, currently serving on the Executive Board of the Central Bank of Norway (Norges Bank), as well as on the boards of Catena Media (Stockholm SE), Akastor ASA, DOF ASA, and Sevan Marine ASA. Baker was a partner at Norwegian private equity firm, Reiten & Co for 15 years. Prior to that, she was a management consultant at McKinsey & Co in Oslo and a financial analyst at Morgan Stanley in New York. Baker has also held several advisory board positions, including for the Tuck School of Business, DLA Piper Norway, and the Ethics Committee of the Norwegian Private Equity and Venture Capital Association (NVCA). She holds a bachelor degree in Economics from Wellesley College and an MBA from the Tuck School of Business at Dartmouth College. Baker is an American citizen and has been a resident in Norway for the past 20 years.

The election follows the decision of longstanding Chairman of the Navamedic board, Johan Reinsli, to step down due to an increased workload in other areas. Reinsli will continue as a member of the board. The Extraordinary General Meeting also elected Jostein Davidsen as a new member of the board.

Jostein Davidsen brings more than 30 years of experience from the international pharmaceuticals industry, most recently serving as the Chief Executive Officer of the Acino Pharmaceuticals in Switzerland. Mr.Davidsen was the founder of Nycomed Russia- CIS which he built up to be  one of the leading pharmaceutical companies in the Region, with several BNOK in sales and 1500 employees until Nycomed Pharma was sold to Takeda Pharmaceuticals of Japan in 2011. Davidsen served after the transaction as a Corporate Officer and the Head of the Emerging Markets at Takeda Pharmaceuticals International based in Zurich. He was during this time named the world's second most influential pharma-industry leader in Emerging Markets by Scrip (the pharmaceutical international news journal). Davidsen studied Business and Administration at Handelsakademiet in Oslo and have completed several Executive Management Programs and Board learning program at IMD, Lausanne Switzerland.


The new Navamedic Board of Directors:


Kathryn M. Baker, Chairman

Johan Reinsli, Member

Kari Stenersen, Member

Huaizheng Peng, Member

Jostein Davidsen, Member

Svein Erik Nicolaysen, Deputy Member


For further information, please contact:

Tom Rönnlund, CEO, Navamedic. Telephone +46 727 320 321.


Navamedic ASA is a Norwegian medtech and pharmaceutical products company, delivering products to patients, hospitals and pharmacies in the Nordic and Benelux markets. The Group's Medtech business has developed and is currently introducing the next generation of digital urine meter Sippi®. Navamedic's Pharma and Healthcare business is a distributor of products supplied by a number of pharmaceutical manufacturers. Navamedic is listed on the Oslo Stock Exchange (ticker: NAVA).


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Source: Navamedic ASA via GlobeNewswire