Appointment of Chief Financial Officer

RNS Number : 9298H

Medica Group PLC

30 March 2020

 

30 March 2020

Medica Group Plc

Directorate Change

Appointment of Chief Financial Officer

Medica Group Plc (LSE: MGP, "Medica" or the "Company"), the UK market leader in the provision of teleradiology services, announces that Richard Jones has been appointed as Chief Financial Officer (CFO) and an Executive Director of the Board. Richard will succeed Tony Lee, who will step down as Finance Director, following the announcement on 11 March 2020 that he would leave after 10 years at the Company. Following a transition period, Richard will join the Company later in the year at a date to be announced in due course.

Richard brings with him 20 years' extensive experience working with and in fast-growing healthcare businesses, nine of which as a proven CFO of two listed healthcare UK companies. Richard is currently CFO at Mereo BioPharma Group Plc and was previously CFO at Shield Therapeutics Plc. He is also currently a Non-Executive Director and Chair of Audit Committee at Alliance Pharma Plc. Richard, a Chartered Accountant, started his career with PwC and moved into investment banking where he specialised in the healthcare services sector, initially as a research analyst and then into corporate finance as Head of Healthcare at Investec. No further details are required to be disclosed under LR 9.6.13.

Roy Davis, Chairman at Medica, said:

"I am delighted to announce that Richard Jones will join Medica as CFO and a member of the Board. We are confident that Richard's experience as a listed company CFO, coupled with his background in healthcare as a research analyst and corporate finance director, will support our engagement with investors as we implement our growth strategy."

Dr. Stuart Quin, Chief Executive Officer of Medica, added:

"Richard is well-known within the UK healthcare market and I am pleased that he has decided to join our team. Medica has ambitious plans to expand and diversify its service offering and Richard's leadership will be important as we develop the internal finance function at Medica, as well as to shape new business opportunities that will enable future growth."

Commenting on his appointment, Richard Jones said:

"I am excited to be joining Medica as CFO and to be returning to the healthcare services market. Medica has a great opportunity to continue to cement its leading position in the UK teleradiology market, as well as look to grow through new opportunities. I look forward to working the executive team on this next stage of development."

For further information, please contact:

Medica Group Roy Davis, Chairman Stuart Quin, Chief Executive Officer	[phone]
FTI Consulting Victoria Foster Mitchell Robert Winder	[phone]

About Medica Group PLC

Medica is the UK market leader in the provision of teleradiology services, providing outsourced interpretation and reporting on MRI (magnetic resonance imaging), CT (computerised tomography) and plain film (x-ray) images. The Company currently offers three primary services to hospital radiology departments: NightHawk, an out-of-hours service, routine cross-sectional reporting on MRI and CT scans, and routine plain film reporting on x-ray images.

Medica has developed a bespoke, secure IT platform that provides market-leading linkage between a hospital's radiology information system (RIS) and consultant radiologists who contract with Medica. Direct RIS access ensures that the full wider patient information is available and reviewed with every report.

The Company contracts with the largest pool of consultant radiologists outside of the NHS and has been trusted to provide more than 1.3 million examinations annually across its customer base of more than 100 NHS Trusts and various private hospital groups and diagnostic imaging companies. For more information please visit www.medicagroup.co.uk .

 

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