MagVenture Inc. wins HRH Crown Prince Frederik of Denmark’s International Business Award for Export Achievement
MagVenture, a world-leading provider of innovative medical solutions, is thrilled to announce its receipt of the esteemed HRH Crown Prince Frederik of Denmark’s International Business Award for Export Achievement. This recognition honors MagVenture Inc.’s strong determination to build a successful business in the US market since 2010.
Kerry Rome, Senior Vice President at MagVenture Inc., and Christian Wanding, Chief Commercial Officer of the company, were both honored to receive the distinguished award.
“I am very honored to receive this royal award from HRH Crown Prince Frederik from one of the oldest monarchies in the world on behalf of the entire US organization,” said Kerry Rome, Senior Vice President, MagVenture Inc. “The company’s incredible growth is a result of our hard work and continued collaboration with our Danish colleagues and has been a truly rewarding endeavor. We are using our technology to work with healthcare professionals every day to improve the lives of patients that otherwise often are left with very limited options. Meeting and hearing about the treatment results from patients is what motivates the entire team to work tirelessly to continue to expand this technology.”
The Export Achievement Award focuses on companies that have launched a highly efficient export initiative and successfully penetrated export markets or segments.
“Specifically, MagVenture Inc. has shown a unique capability to create jobs in the US. They play a crucial role in offering a solution that can improve the mental condition for thousands of people”, says Sebastian Schwarz from the Danish Export Association.
“We hope this case of successful export development inspires others to think globally and dare to take the risk of going to the US which requires large investments in terms of regulatory clearances, organizational development and sales-generating activities. Especially within the healthcare industry for small entrepreneurial businesses similar to us“, says Christian Wanding, CCO at MagVenture.
TMS offers new hope
MagVenture’s TMS (Transcranial Magnetic Stimulation) technology offers new hope to patients by transforming how mental health conditions are treated.
TMS is an innovative non-invasive procedure that delivers a high rate of repetitive magnetic fields to stimulate nerve cells in the brain. Specifically, it is possible to treat mental disorders like depression with a different method than medication which also is without the typical side effects of traditional depression medication.
“Our belief and determination to succeed in the US market started 13 years ago with the support of the Danish Trade Council in Atlanta. Today the US market constitutes our main market and we have grown our US organization from 2 to 24 employees situated across 9 states with HQ in Atlanta. We have managed to get FDA clearance for the treatment of Major Depressive Disorder and OCD and as a nerve stimulator used in diagnostics. We are working to expand into multiple new indications including a new area in our company called neuropathic pain. This has resulted in incredible growth over the last years, just in 2022 of more than 57% in revenue”, said Christian Wanding, CCO at MagVenture. “As a small family-owned business growing organically to this point, it is an incredible honor to be recognized by HRH Crown Prince Frederik and the Danish Export Association. This award really means a lot, especially because it helps reiterate how important mental health is and what we can do to transform how this is treated”
About MagVenture
MagVenture is a market-leading manufacturer of non-invasive Transcranial Magnetic Stimulation (TMS) systems worldwide. Privately owned with headquarters in Denmark, MagVenture has been pioneering leading-edge TMS solutions for more than 30 years. MagVenture’s TMS systems are used for both research and treatment in the fields of psychiatry, neurophysiology, neurology and cognitive neuroscience.
