Michael Steadman, President of ConvaTec Wound Therapeutics
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When he was 18 years old, Michael Steadman was a firefighter in the suburbs of Chicago. It was during these early years of adulthood that an interest in wound care was established. “I saw plenty of burns as well as trauma-related wounds—that was my foundation,” he says.
After graduating college with a business degree, Michael became a representative for Carrington Laboratories Inc (Irving, Tex), a research-based, biopharmaceutical and consumer products company that utilizes naturally occurring complex carbohydrates to manufacture and market products for mucositis, radiation dermatitis, and wound and oral care. The company was introducing the first hydrogel for the treatment of wounds, giving him the opportunity to combine both of his passions— wound care and business.
Michael later joined DFB Pharmaceuticals Inc (Fort Worth, Tex) as President and COO and participated in the creation of Healthpoint (Fort Worth, Tex), an organization focused on drugs and biologics for wound care. As a result of the divestiture from Bristol-Myers Squibb (New York, NY), Michael was later afforded the opportunity to become President of the Global Wound Therapeutics business for ConvaTec (Skillman, NJ).
For more than 30 years, ConvaTec has created innovative products and offered unique services that enhance patients’ lives. ConvaTec’s brands in ostomy care, wound therapeutics, and skin care are recognized around the world and continue to be formidable competitors in the global marketplace. The company attributes its overall success to the three pillars upon which it is built: a strong and solid heritage, a passion for improving people’s lives, and a vision of what can be, attributes to which Michael enthusiastically subscribes.
Within 2 weeks of making the decision to join ConvaTec, which involved relocating from Fort Worth, Texas to Princeton, NJ, Michael’s wife gave him even more exciting news — she was expecting their first child.(Michael and his wife have two older adopted children.) “I’ve been commuting back and forth for the past 8 months,” Michael says. “We’ve been building a house, and we now have a new baby. New house, new baby, new job—just a few high stress indicators.”
In addition to juggling his recent blessings, Michael’s team at ConvaTec also has been busy. “We’ve been building a new company, following the spin-out from Bristol-Myers Squibb,” Michael says. “We changed our structure and culture to one that is more entrepreneurial and totally committed to our core businesses.”
Michael’s leadership capabilities combined with ConvaTec’s business philosophy are paving the way for continued success. “With imagination and innovation, we make a difference in people’s lives— that’s our mission and it is one that is completely in keeping with my own personal philosophy and vision for the wound therapeutics business— a total commitment to the patient population,” he says. “Now that ConvaTec is independent, we are able to focus all of our efforts on making this an exciting, evolving company. This is a key reason as to why I came on board.”
Michael stresses the importance of meeting and satisfying customer needs while consistently remaining patient-centered. “We are laser-focused on the customer, their needs, and the needs of their patients. ConvaTec has great technologies and products to fulfill those needs.