Company Update
5 Q&A With Magnasense Chairman of board - Jens Umehag
Jens, you joined Magnasense as board chairman now in 2024. Tell us about your background and how it fits with the company.
I joined Magnasense in April 2024 as Chairman taking over from Anders Ingvarsson. My background is as a strategic and commercial operator CFO with a deep understanding of technology and B2B and having served on many boards across US, UK and Finland. I bring over 20 years of international experience from Halma plc (CFO Medical & Environmental Sectors, Ventures), BP plc (Downstream), as well as scaling and growing startups. In these roles I has driven international expansion and growth via M&A, innovation and partnerships, in addition to financial leadership and governance.
These experiences fit well with where Magnasense is today to support opportunities and challenges ahead including setting scaling organization in international markets, innovating new products and business models, while providing strong governance and control.
What made you interested in Magnasense to take on the role as Chairman?
When Anders Ingvarsson decided to step down he asked me if I was interested in being nominated for the role as Chairman and I jumped at the opportunity. I have been on many boards and I felt I can add value as Chairman to the Magnasense board, shareholders and support the executive team.
The company is at a very exciting inflection point building on their magnetic test strip technology and platform to make a difference in people’s lives with an initial focus on oral health and then build from there with other biomarkers. I am a strong believer in preventative healthcare and using new diagnostic technologies to give practitioners and consumers tools to improve quality of life and healthspan.
Where do you think you will be able to contribute the most regarding Magnasense’s path forward?
For me it is about supporting Marco and his executive team and focus on governance and structure to ensure the business is well run. I bring a broad experience across industries, functions and international geographies that are relevant to Magnasense. This allows me to ask the right questions together with the board as well as provide constructive challenge to Marco and his team to achieve better outcomes.
What are your key objectives for the coming years?
- Build relationships with the board members, executive team and shareholders to ensure the new board works well together.
- Strong governance and controls in service of building solid foundation for future growth aspirations.
- Support the executive team to execute their strategic plan, including investments, launching new products to market, and develop new partnerships.
Why is Magnasense in a unique position in the market?
The uniqueness, I believe, lies in the simple diagnostic saliva-based tool with a user-friendly platform for multiple biomarkers for both practitioners and individuals in an at-home setting. Making it easy is key to drive uptake to enable real prevention that will save healthcare system money and improve the lives of people. I believe this is just the beginning so feeling excited about the future and the impact Magnasense will have.
"The company is at a very exciting inflection point building on their magnetic test strip technology and platform to make a difference in people’s lives with an initial focus on oral health and then build from there with other biomarkers"
Jens Umehag,
Chairman of the board - Magnasense AB
