16 May 2002
The Medical House plc
("TMH" or "the Company")
Appointment of Finance Director
The Medical House, the medical devices and equipment company, announces that
Stephen Westwood FCA has today joined the Board as Group Finance Director
and Company Secretary.
Stephen, 51, has considerable experience in the medical devices industry,
having previously held the position of Group Finance Director of GW Thornton
Holdings Plc, a precision engineering company focusing on the international
orthopaedic and aerospace markets. His extensive consultancy and advisory
work has included medical device evaluation services and surgical instrument
manufacture and refurbishment.
Stephen joins TMH from Centrica Plc, where he was Director of both Customer
Services and Service Quality at British Gas. Prior to joining Centrica in
1999, Stephen was Chief Executive of Prolog Group Limited, the IT services
company.
A qualified chartered accountant, Stephen started his career at Coopers &
Lybrand, where he worked for 10 years in a range of roles.
Stephen replaces Colin Rylett as both Group Finance Director and Company
Secretary who is leaving the company at the end of the month to pursue other
business interests.
Ian Townsend, Chief Executive of The Medical House, commented:
"We are delighted to welcome Stephen to TMH, with his extensive experience
in the medical devices field. Stephen's experience strengthens the management
team and our position as a significant player in the medical devices market.
"I would like to thank Colin for his valuable contribution to the Company
and wish him all the best for the future."
- Ends -
For further information:
The Medical House plc 0114 261 9011
Ian Townsend, Chief Executive
Weber Shandwick Square Mile 020 7950 2800
Nick Oborne / Susanne Walker
Notes to editors:
The Medical House ("TMH"), quoted on AIM, specialises in the design,
manufacture and distribution of medical devices and equipment. Its operations
include: Eurocut, a company specialising in the design, development and manufacture
of instruments and cutting tools for use in orthopaedic surgery; Creative
Medical Design, a leading designer of medical devices and manufacturer of
prototypes; and Medical House Products the manufacturer and distributor of
needle free injection systems for diabetics.
In October 2000, Medisys PLC granted TMH the worldwide rights to a method
of detecting helicobacter pylori, the bacteria which cause stomach ulcers
and other gastric complaints. The Hyperlyser, which detects the bacteria by
measuring levels of ammonia in patients' breath, is currently undergoing pre-clinical
trials. At the time of the agreement Medisys acquired a 6% stake in TMH.
In April 2001, TMH signed an exclusive distribution licence with Bioject
Medical Technologies, Inc, the leading US drug delivery company. Under the
terms of this agreement, TMH was granted exclusive rights, for an initial
five year term, for the distribution of The Vitajet, a needle-free injection
system for the delivery of insulin in the UK, continental Europe and Egypt.
Bioject has also selected TMH as its development partner for a second generation
of the Vitajet, the mhi-500. The mhi-500 was awarded the CE Mark in December
2001 and deliveries of the device commenced in January 2002.