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For Immediate Release 07 January 2005 Medical House Plc BOARD CHANGES The Medical House PLC (“TMH”), (AIM:MLH) the orthopaedic devices and drug delivery company today announces the following board changes. Effective from 7th January 2005, Ian Townsend, Chief Executive will become Executive Chairman, Bryan Bodek will be become non-executive Deputy Chairman. Stephen Westwood will leave the board to pursue other business interests. David Urquhart and Chris Miller will join the Board as Managing Directors of Medical House Products Ltd and Eurocut Ltd respectively. Chris Miller, who is also a qualified accountant will assume Stephen's financial role in addition to looking after Eurocut. The changes reflect the changing face of The Medical House and a keenness to undertake best practice in this area. Ian Townsend, Executive Chairman, said: "I very much welcome these board changes reflecting in particular the rapid growth of our drug delivery division. I would also like to take this opportunity to thank Stephen for all his efforts on the Company’s behalf and wish him every success in his future endeavours." For further information The Medical House PLC Notes to Editors: About Medical House -Market Background TMH has progressively been developing needle free devices which are already successfully used in the market. TMH's own proprietary next generation device, the SQ-pen, is the latest spring powered re-useable system, has great potential in drug delivery worldwide. TMH also has several distribution agreements in place for the insulin market with its first needle free device ,named the mhi-500. TMH announced in November 2002 that it had received approval from the PPA (Prescription Pricing Authority) for the admission of the mhi-500 device to the NHS Drug Tariff, to be effective from 1 January 2003. This has enabled the device and the related consumables to be prescribed on a free of charge basis to the more than 500,000 people with diabetes in the UK who inject insulin daily. This makes TMH's device the first needle free injection system for liquid pharmaceuticals to be available on the Drug Tariff. Medical House currently has distribution agreements already in place for its needle free injection systems for insulin use covering: Australia; the Southern Africa Development Communities (including South Africa, Angola, Namibia, Botswana, Zambia, Swaziland, Zimbabwe, Malawi, Mozambique and Lesotho); Israel; the Benelux countries (Belgium, Holland and Luxembourg), Turkey; Canada; Egypt, New Zealand, China, Poland, Pakistan , Morocco and Ireland. Historically the majority of the Group’s turnover has come
from its orthopaedic company, Eurocut Limited. It designs and
manufactures instruments and systems used in orthopaedic procedures
for many of the world’s leading orthopaedic companies. Eurocut
was established in 1988 and now has a reputation as one of Europe’s
leading orthopaedic instrument businesses. In January 2004, the
company moved into significantly enlarged premises enabling it
to expand sales significantly. This enables Eurocut to take advantage
of a growing orthopaedic market which has an increasing demand
for ever more complex instrumentation to carry out minimally invasive
and image guided procedures - Ends - |
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