Neola Medical’s expansion in the U.S. market is gaining momentum, with significant progress in launch preparations. As part of the company’s strategy to leverage U.S. market expertise, Neola Medical has appointed Monica Alfaro Welling as its first American board member. With over 30 years of leadership experience in the biopharma and MedTech sectors across global markets, Monica brings invaluable insight and a strategic vision to guide the company through this pivotal phase, as it prepares for market entry and strengthens Neola®’s global footprint. In this interview, we delve into her professional journey, her outlook on the future of Neola®, and the key opportunities she identifies in the U.S. market.
Monica Alfaro Welling’s appointment marks a new chapter for Neola Medical as we prepare for market launch in the U.S. Her extensive experience and strategic vision will be invaluable as we work to improve neonatal care globally.
– CEO Hanna Sjöström
Monica’s career began at Novo Nordisk in Denmark, where she developed a deep passion for pediatric care—a core element of Neola Medical’s mission. Her early years at Novo Nordisk provided her with a global perspective on product development and commercialization, particularly in the area of pediatric treatments.
– This experience profoundly shaped my leadership approach, particularly in cross-cultural settings, and ignited a lifelong interest in Scandinavian values and innovation, says Monica Alfaro Welling.
Her return to Southern California marked another pivotal point in her career, where she joined Allergan (now AbbVie). There, she played a vital role in the development and commercialization of BOTOX®, one of the most recognized global brands.
– I drew upon my experience from Novo Nordisk to integrate commercial strategies, including reimbursement models, into product development and portfolio management, ensuring long-term market success. This experience was crucial in preparing me for the dynamic world of start-ups.
Transitioning to the start-up ecosystem allowed her to further hone her skills in fundraising, team building, and stakeholder management in a more dynamic environment. These experiences enhanced by contributions as co-founder of Atheln Inc., a consulting company dedicated to product development and commercialization.
– I’ve had the privilege of advising numerous early-stage biopharma and MedTech companies as they navigate complex development, regulatory landscapes and market challenges. This phase of my career significantly expanded my network, both in the U.S. and internationally.
Eager to leverage this broad expertise and return to her roots in Scandinavia, she began exploring board positions with Nordic biopharma and MedTech companies. Monica’s decision to join Neola Medical came after a chance meeting with CEO Hanna Sjöström at a NOME mentoring event in San Francisco. Her admiration for the company’s dedication to an underserved area of healthcare inspired her to accept a position on the board.
As I learned more about Neola®, I was impressed by Hanna Sjöström’s leadership, the cutting-edge technology, and the company’s dedication to neonatology—an area that is often underserved but closely aligned with the early focus of my career.
Impacting the U.S. MedTech Market
Monica expresses strong confidence in Neola Medical’s potential to make a significant impact, particularly in the U.S. market.
– Neola® is addressing a critical unmet need in neonatal care, where few technologies exist to improve outcomes for neonates, she says.
Monica believes that this strategic focus not only fills a gap in the market but also aligns with growing demand for solutions that can enhance the survival and health of one of the most vulnerable patient populations. She also emphasizes the strong interest and support from key steakholders, including the FDA and leading academic institutions, as a positive indicator of Neola®’s value and growing influence.
Opportunities for Growth in MedTech
Monica sees significant opportunities for growth within the MedTech industry, particularly in the U.S. market. She highlights key trends such as the increasing demand for smart devices that leverage artificial intelligence (AI) and machine learning for real-time health monitoring, including wearable devices that can track vital signs in at-risk populations.
Technologies that enable early diagnosis, enhance clinical decision-making, and improve patient outcomes are becoming increasingly important, especially in neonatal care, she notes. I believe Neola Medical has strong potential to address these needs by providing innovative solutions that can fill critical gaps in neonatal healthcare.
Monica also points to the transition towards value-based care in the U.S. healthcare system as another promising avenue for growth.
– Devices that improve patient outcomes while reducing costs will be essential as the healthcare system continues to evolve. This includes technologies that enhance the quality of care through early diagnosis and prevention, areas where Neola® has the potential to make a significant impact.
From a regulatory standpoint, Monica highlights recent efforts by the FDA to streamline the approval process for innovative medical devices, which could present an opportunity for faster market entry.
– Neola® is well-positioned to leverage these evolving pathways, further enhancing its competitive advantage.
A Strategic Vision for Neola®’s Growth
With over three decades of experience in the life sciences sector, Monica brings extensive experience in navigating regulatory landscapes, developing risk mitigation strategies, scaling operations globally and ensuring successful market entry.
– My role at Neola Medical will be to provide strategic oversight and help the company grow sustainably. Drawing on my experience launching high-impact brands in the U.S. market, I aim to support Neola® in expanding its footprint and solidifying its leadership in the industry, she says.
As she embarks on her journey with Neola Medical, Monica is most excited about contributing to the company’s mission of improving neonatal care on a global scale.
– It’s a privilege to work with a team that shares my passion for healthcare innovation, and I look forward to leveraging my connections in both the U.S. and Scandinavia to drive impactful change for neonates around the world.