REG - Induction Healthcare - Directorate Change

Induction HealthcareAnnouncement

15/11/2021 07:05

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RNS Number : 2993S  Induction Healthcare Group PLC   15 November 2021

Induction Healthcare Group PLC

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

 

Directorate Change

Appointment of Chief Financial Officer

 

Induction (AIM: INHC), a leading virtual care platform driving digital
transformation of healthcare systems worldwide, announces the appointment of
Guy Mitchell, who joins the Board as Chief Financial Officer with immediate
effect.

 

Mr Mitchell is a finance professional with over 20 years' experience in senior
financial leadership roles. He has spent the last 10 years specialising in
high growth, Private Equity and Venture Capital backed software/technology
companies, typically businesses with SaaS models and with a global reach and
customer base. Previously Mr Mitchell served as Interim CFO at AIM listed,
FreeAgent PLC, a SaaS based accounting software company and as Interim CFO at
Oxehealth Limited, a Venture Capital and Private Equity backed global SaaS
model medical software supplying mental health trusts and care homes with a
niche solution unrivalled in the market. Mr Mitchell was also Finance Director
of GFI Max Limited through a significant growth period of £5m to £75m annual
recurring revenue in just over three years.

 

Mr Mitchell's strengths lie in international financial leadership and
management, tax strategy and compliance and business partnering to deliver
shareholder value. Throughout his career, Mr Mitchell has overseen the
acquisition and integration of five companies from different global locations
including the UK, Armenia, the Netherlands and the US, raised over £10m of
Venture Capital and Private Equity investment, and grown a finance team of
three to 17 in under three years across different geographical locations.

 

Mr Mitchell is a Qualified Accountant and Chartered Tax Adviser and holds a
Mathematical Sciences degree from Edinburgh Napier University.

 

Olly Drake, the Company's interim CFO, is leaving Induction in order to pursue
other opportunities.

 

Guy Mitchell, Chief Financial Officer, commented: "I am delighted to be
joining Induction during an incredibly dynamic time for the Company. The
Company's recent announcement of the first major contract outside of the
healthcare space indicates the diversity of Inductions products and I look
forward to working with James as we continue to build on this strong sales
momentum and drive growth for the Company."

 

James Balmain, Chief Executive Officer, commented: "Guy is a great addition to
the Induction Board, and I would like to welcome him to the team. The Company
is going from strength to strength and Guy's extensive experience in SaaS
companies as well as knowledge of AIM and high growth companies will prove
highly beneficial to Induction as we continue to build on our successes.

 

"I would like to thank Olly for his support and hard work, especially during
the acquisition of Attend Anywhere. Olly has been an invaluable member of the
Induction management team and I wish him every success in his future
pursuits."

 

Disclosures in accordance with the AIM Rules

 

Guy James Mitchell, 46, is, or has been, a director or partner of the
following companies or partnerships during the past five years:

 

Convertr Media Limited

Freeagent Central Limited

The IDCO Limited

 

Mr Mitchell owns no shares in Induction.

 

There are no further disclosures required in accordance with AIM Rule 17 and
Schedule Two paragraph (g) of the AIM Rules for Companies.

 

 

ENQUIRIES

 

 Induction                                              Via Walbrook PR Ltd: induction@walbrookpr.com

 James Balmain, Chief Executive Officer

 Dr Hugo Stephenson, Group Executive Director

 Singer Capital Markets (Nominated Adviser and Broker)  +44 (0) 20 7496 3000
 Philip Davies / Kailey Aliyar

 Walbrook PR Ltd                                        induction@walbrookpr.com (mailto:induction@walbrookpr.com)
 Paul McManus / Alice Woodings                          Mob: +44(0)7980 541 893 / +44 (0)7407 804 654

 

About Induction -  www.inductionhealthcare.com
(http://www.inductionhealthcare.com)

 

Induction (AIM: INHC) is a leading virtual care platform driving digital
transformation of healthcare systems worldwide. Induction solutions enhance
the investments hospitals have made and lay the foundation for their future.
Our products can enable information sharing between busy doctors, alleviate
operational burdens on hospitals or put patients in better control of their
care, all while ensuring the highest standards of clinical safety and
information security. We unchain staff and patients from the limitations of
paper-based and desktop systems, creating substantial time and cost
efficiencies.

 

More than 225,000 hospital doctors across multiple territories, including the
UK, Ireland, Australia and South Africa, as well as a rapidly growing number
of more than 300,000 UK patients, choose Induction solutions.

 

Induction Switch is the number one healthcare collaboration app in the UK,
used by the majority of hospital doctors within the NHS. The app helps to
increase productivity and enhance communication by securely sharing phone
numbers and bleeps, bookmarks, documents and messages in a clinical setting.

 

Induction Guidance provides medical organisations, including most hospital
trusts within the NHS, with the ability to collaboratively create, edit, and
publish their own local medical guidelines in a secure and locally
administrated environment. This increases knowledge of, and adherence to,
guidance.

 

Induction Zesty is a market-leading digital platform for patients visiting
hospitals. The platform allows patients to book and access their appointments,
read their clinical letters, store a copy of their clinical record and provide
data to their care teams remotely. It is not just a compelling patient
experience, but also delivers significant cost benefits to hospitals.

 

Induction Attend Anywhere is the UK market leader in secondary care video
consultations. It helps hospitals, health systems and other customers offer
video consultations to patients and service users as a normal part of
day-to-day clinical activity. Our vision is for video consultations to improve
lives and help address social, access, equity and sustainability challenges by
allowing healthcare providers to determine how and when they see a patient
based on each individual case: in-person, via video or on the telephone.

 

Induction HealthStream is a proprietary data integration platform that reads
and writes patient demographic, appointment and clinical record data between a
growing number of hospital EHR systems and the Induction platforms. This
connectivity between stakeholders and legacy IT systems adds substantial value
to pre-existing health IT investment and allows large-scale adoption of
Induction app-based services.

 

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