REG - EKF Diagnostics Hldg - Directorate Change

EKF Diagnostics HoldingsAnnouncement

23/11/2021 07:00

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RNS Number : 1907T  EKF Diagnostics Holdings PLC  23 November 2021

EKF Diagnostics Holdings plc

("EKF", the "Company" or the "Group")

 

Directorate Change

Appointment of Chief Financial Officer

 

EKF Diagnostics Holdings plc (AIM: EKF), the AIM-listed point-of-care
business, announces the appointment of Marc Davies as Chief Financial Officer
("CFO"). Marc will join the Board as CFO on 1 January 2022, and will succeed
Richard Evans, currently Chief Operating Officer and Finance Director, who
will step down from his position on 1 January 2022 but remain with the Company
until the end of March 2022 to provide a suitable handover period.

 

Marc joins EKF from medical device designer, manufacturer and supplier
Flexicare Medical, where he is currently Group Finance and Operations
Director. Marc has been responsible for overseeing substantial revenue growth
throughout his time with the business, driven by both organic performance and
acquisition. Since joining Flexicare Medical as Finance Director in 2017, Marc
has led several corporate finance transactions including post-transaction
integration.

 

Previously, Marc was a Corporate Finance Director at PwC, providing mid-market
private business and private equity focused corporate finance advice as Head
of the PwC West and Wales Corporate Finance Team. Before joining PwC in
February 2013 Marc was an AIM focussed Corporate Finance Advisor for over five
years, during which he spent four years at WH Ireland, including work within
its Nominated Adviser function. Marc began his career in finance as part of
the PwC Corporate Recovery team.

 

Marc is a Fellow Chartered Accountant (FCA) and an Oxford graduate with an MSc
(Distinction) in Mathematical Modelling and Scientific Computation and an MA
(First Class) in Mathematical Science.

 

Christopher Mills, Chairman of EKF, commented:

"I would like to take this opportunity to again thank Richard for more than
ten years of service to the Company, and for his efforts in ensuring
continuity by remaining with us until the end of March.

 

"We are delighted to have Marc join EKF in the new year to support Mike Salter
and the EKF team as we implement the next phases of our growth strategy
looking out to 2024. Not only does Marc have strong sector experience managing
both organic and acquisitive growth, but also a solid advisory background with
a strong understanding of dynamic growth companies such as EKF."

 

 

 EKF Diagnostics Holdings plc                                  www.ekfdiagnostics.com (http://www.ekfdiagnostics.com)
 Christopher Mills, Non-executive Chairman                      Tel: +44 (0)29 2071 0570
 Mike Salter, CEO
 Richard Evans, FD & COO

 Singer Capital Markets (Nominated Adviser & Joint Broker)                                   Tel: +44 (0)20 7496 3000
 Aubrey Powell / George Tzimas / Tom Salvesen

 Investec Bank plc (Joint Broker)                              Tel: +44 (0)20 7597 4000
 Gary Clarence / Daniel Adams

 Walbrook PR Limited               Tel: +44 (0)20 7933 8780 or ekf@walbrookpr.com (mailto:ekf@walbrookpr.com)
 Paul McManus / Lianne Applegarth  Mob: +44 (0)7980 541 893 / +44 (0)7584 391 303

 

 

 

About EKF Diagnostics Holdings plc (www.ekfdiagnostics.com
(http://www.ekfdiagnostics.com) )

EKF is a leading point-of-care diagnostics and central laboratory assay
manufacturer with an estimated 80,000 hemoglobin, hematocrit, HbA1c, glucose
and lactate analysers in regular use across more than 100 countries. EKF
specialises in developing tests for use in anemia and diabetes diagnosis and
management, as well as providing a portfolio of reagents for use in clinical
chemistry analysers.

 

EKF specialises in the development, production and worldwide distribution of
point-of-care analyzers and clinical chemistry reagents for use in hospital
and research laboratories, doctor's offices, blood banks and for in-field
anaemia screening programmes. EKF is also a bulk manufacturer of enzymes and
has custom manufacturing facilities across sites in the US, UK and Europe for
a variety of life science products. Driven by customer demand EKF has invested
significantly in increasing the Company's fermentation capacity. The Company's
capabilities and capacity in contract manufacturing for sample collection,
tests and test kits have seen dramatic growth following strong demand for
during the COVID-19 pandemic, and these income streams are now being
diversified for application to other non-COVID areas of diagnostic testing,
molecular disease and forensic test manufacture.

 

In May 2021, EKF outlined its strategy through to 2024 for delivering
additional growth. As well as the growth expected in Contract Manufacturing
across Life Sciences, molecular diagnostics and other applications, the
Company expects to leverage existing distribution channels for organic growth,
both in the core business and from additional products to expand the core
range, but also through executing earnings enhancing acquisitions and
delivering further value creating investments associated with the preferred
partnership agreement with Mount Sinai Innovation Partners.

 

In October 2021, EKF completed the acquisition of Advanced Diagnostic
Laboratory LLC, a Texas based testing laboratory certified under the Clinical
Laboratory Improvement Amendments ("CLIA") for high complexity testing. The
laboratory provides testing for a variety of clinical, forensic and
microbiological sample types using a range of analytical techniques. This
acquisition positions EKF as a leading 'one stop' provider of diagnostic
products and services from sample collection to results.

 

Additional Disclosures Required under the AIM Rules for Companies

 

Marc Peter Davies (aged 41) has held the following directorship or
partnerships in the past five years:

 

Current directorships and partnerships:

 

Flexicare (Group) Limited

Flexicare Medical Limited

Flexicare GmbH

Flexicare BV

Flexicare Srl

Flexicare Deutschland GmbH

Flexicare Ventures Limited

Flexicare Medical Mexico S.A. DE C.V.

 

Previous directorships and partnerships held in the past five years:

 

None other than former subsidiaries of Flexicare (Group) Limited with no
trading activities.

 

Marc Davies does not hold any ordinary shares in the Company.

 

Save as disclosed above, there is no further information to be disclosed in
respect of the above appointments pursuant to Rule 17 and Schedule 2 paragraph
(g) of the AIM Rules for Companies.

 

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