Stock market: IPO of the month (August 2000)

The Medical House the online medical information and equipment supplier has announced its intention to float on the Alternative Investment Market of the London Stock Exchange this month.

The group derived from the bricks-and-mortar orthopaedic manufacturer Eurocut is hoping to raise up to £2.1 million from the issue of 5 million shares. The Medical House currently operates two divisions: a product division focused on the manufacture of medical instruments using computer-aided design: and an information division that licenses medical reference material.

Ian Townsend, Chief Executive of The Medical House believes the group has a strong management team with experience of the medical sector and the latest technologies operating in today's market. Townsend qualified as a chartered accountant in 1976 and worked for KPMG before setting up his own consultancy business. He was instrumental in the reversal of Sheffield United into Canrad and stayed on the board of Sheffield United plc until November 1988. "The flotation marks an exciting step for The Medical House.

The directors believe the company is well placed to become a substantial medical information and products group. It will allow us to pursue our aim of becoming a leading medical resource for the industry" said Townsend.

Courtesy of Internet Business (August 2000) http://www.ibmag.co.uk