Directorate Change

 

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.”

 

For further information please contact:

 

EKF Diagnostics Holdings plc

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  

Paul McManus / Lianne Cawthorne

Mob: +44 (0)7980 541 893 / +44 (0)7584 391 303 

 

 

 

About EKF Diagnostics Holdings plc

 

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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