REG - Induction Healthcare - Directorate Changes

Induction HealthcareAnnouncement

05/12/2022 07:16

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RNS Number : 5230I  Induction Healthcare Group PLC   05 December 2022

Induction Healthcare Group PLC

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

 

Directorate Changes

Appointment of Senior Independent Director

Appointment of Interim Chief Financial Officer

 

Induction (AIM: INHC), a leading digital health platform driving
transformation of healthcare systems worldwide, announces the following Board
changes. Ian Johnson has been appointed to the Board as the Senior Independent
Director ('SID') replacing Leslie-Ann Reed who will be stepping down following
completion of her three-year term.   Andy Williams is also appointed Chair
of the Audit Committee.

 

Alongside this, Guy Mitchell, will step down from his position as Chief
Financial Officer ('CFO') due to personal reasons and will be replaced by John
McIntosh as interim CFO, a non-Board position. Guy has resigned as a Director
with immediate effect, but will remain with the business for a short handover
period.

 

Ian Johnson appointed as Senior Independent Director

Ian brings over 30 years of Board experience working with quoted and private
companies in the Life Sciences space, having spent a career providing
strategic direction and business development expertise. He has a proven track
record of overseeing business growth and providing commercial advice through
scale-up, organic growth and M&A activity.

 

Ian is currently Executive Chairman of NIOX Group plc, a business focused on
improving asthma diagnosis and management. In addition, Ian is Operational
Adviser at Harwood Private Equity focusing on the Life Sciences sector. He was
founder and CEO of Biotrace International Plc before its sale to 3M in
December 2006 and has previously been SID of Clinigen plc. Ian has also acted
as Executive Chairman for Bioquell PLC, Non-Executive Chairman of Quantum
Pharma plc, Cyprotex PLC, Biofortuna Limited and Celsis Group and
Non-Executive Director of Ergomed PLC.

 

John McIntosh appointed as Interim CFO

John is a highly experienced AIM CFO who has worked as a consultant CFO,
interim Finance Director and CFO for public and private entities in the UK,
USA, and Europe. After qualifying with Deloitte in 1994, John worked with
SONY, DMB&B and the BBC, before focusing towards online, and multi-media
businesses.

 

John was Director and CFO of Bidstack Group plc ("Bidstack") for three years
until 2021, where he led the business from its early stages, through its
successful admission to AIM in September 2018, to become a leading
multi-market international business. Prior to this, he was interim FD and
Board member of Progility PLC for three years.  He was also CFO and Chief
Operating Officer for DCD Media plc for five years.

 

John's appointment is an interim role, and the Board are actively recruiting
to appoint a permanent CFO.

 

Induction CEO, James Balmain, said: "I would like to extend my thanks of
behalf of the Board to Leslie-Ann for her contribution during a transformation
period. We are grateful for Leslie-Ann's support, and she will be missed.

 

"I wish Guy the very best for the future and would like to welcome John and
Ian, who both bring extensive AIM experience to Induction."

 

Disclosures in accordance with the AIM Rules

Mr Ian Roy Johnson, aged 69, is, or has been, a director or partner of the
following companies or partnerships during the past five years:

 

 

 

 Current directorships and/or partnerships  Former directorships and/or partnerships (within the last five years)
 NIOX Group plc                             Ergomed PLC
 Circassia Limited                          Redcentric PLC
                                            Clinigen PLC
                                            Bioquell PLC
                                            Bioquell UK Limited
                                            Bioxyquell Limited
                                            MDH Defence Limited
                                            Klenitise Limited
                                            Prosonix Limited
                                            Circassia Pharma Limited

 

Mr Johnson owns 20,000 shares in Induction.

 

Mr Johnson was appointed director of Pure Options Solutions Limited in
December 2009. Pure Options Solutions Limited subsequently entered into
administration in November 2010 and the company was dissolved following
liquidation in September 2014. The estimated deficiency to investors and
creditors was approximately £4.5 million.

 

Mr Johnson was appointed director of Toximet Limited in September 2013.
Toximet Limited subsequently entered into administration in November 2015,
creditors voluntary liquidation in November 2016 and was dissolved following
liquidation in August 2017. The estimated deficiency to investors and
creditors was approximately £0.8 million.

 

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

 Christopher Samler, Non-Executive Chair

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

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

 

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

Induction (AIM: INHC) Induction delivers a suite of software solutions through
a single integrated platform that transforms care delivery. Our system-wide
applications help healthcare providers and administrators to deliver care at
any stage remotely as well as face-to-face - giving the communities they serve
greater flexibility, control and ease of access. Purpose-built for integration
with leading Electronic Medical Record (EMR) platforms, our products offer
immediate stand-alone value that becomes even greater when integrated with
pre-existing systems.

 

Used at scale by national and regional healthcare systems, as well non-health
government services, our applications are relied upon by hundreds of thousands
of clinicians and millions of patients across almost every hospital in the
British Isles.

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