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Induction Healthcare - Board and management changes

RNS Number : 5915E
Induction Healthcare Group PLC
02 March 2020
 

2 March 2020

Induction Healthcare Group PLC

 

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

 

Board and management changes

 

Induction, a leading healthcare technology company that helps healthcare professionals deliver better care more efficiently, announces changes to its senior management team and its Board of Directors (the "Board") to reflect appropriately the balance of workflow in the Company and position it for its next phase of growth.

 

Dr Hugo Stephenson, current interim Head of Product/Development and current Non-Executive Director, will take on the executive role of CEO. Dr Stephenson has recently been assuming greater responsibility for building the Induction product and the day-to-day running of the Company.

 

As a result, current CEO, Ibs Mahmood, will take on the newly formed role of Chief Business Officer to focus more on the execution of Induction's buy-and-build strategy and corporate development. Mr Mahmood will remain on the Board.

 

The Company also announces that Shelley Fraser, previously Interim CFO, has now been appointed to the CFO role on a permanent basis and has joined the Board.

 

All changes will be effective immediately.

 

Following the change, the Board comprises three Executive Directors and three independent Non-Executive Directors.

 

Ibs Mahmood, Chief Business Officer of Induction, said 

 

"Hugo's role as interim Head of Product/Development has increasingly seen both of us sharing the operational responsibilities incumbent upon a CEO. To better maximise our respective skillsets, Hugo, the rest of the Board and I have determined it would be prudent for Hugo to take on the CEO role fully whilst   my new role will allow me to focus more on the pursuit of business and corporate development opportunities in line with our growth strategy." 

 

Dr Hugo Stephenson, CEO of Induction, said 

 

"I am excited to be taking on the role of CEO. Ibs has been excellent in the role throughout his tenure but given his track record in deal making and my long experience of product development, we will now redistribute our roles. Ibs will remain an integral part of the team as we implement our strategy and focus on the key areas to ensure our long-term growth. On behalf of the Board, I would also like to welcome Shelley as our permanent CFO and full member of the Board."

 

Within the last five years Shelley Kim Fraser (aged 53), was a director of the following company: Murdoch Fraser Limited. There is no further information to be disclosed on the appointment of Shelley Fraser to the Board pursuant to Schedule 2 paragraph (g) of the AIM Rules.

 

ENQUIRIES

 

 

Induction Healthcare




Dr Hugo Stephenson, Chief Executive Officer

Ibs Mahmood, Chief Business Officer

Via FTI Consulting



Numis Securities (Nominated Adviser and Broker)

+44 (0) 207 260 1000



James Black / Freddie Barnfield / Huw Jeremy / Matthew Jones




FTI Consulting

+44 (0) 203 727 1000



Jamie Ricketts / Elena Kalinskaya / Sam Purewal / Mary Whittow


 

 

 

About Induction

 

Induction Healthcare Group PLC is a leading healthcare technology company that helps healthcare professionals deliver better care more efficiently. The Group has two platforms, Induction Switch and MicroGuide, that support healthcare professionals in multiple markets, including UK, Ireland, Australia and South Africa. Induction Switch is the number one healthcare collaboration app in the UK. The app helps more than 125,000 users - mostly doctors - to increase productivity and enhance communication by securely sharing phone numbers and bleeps, bookmarks, documents and messages in a clinical setting. The MicroGuide platform provides medical organisations with the ability to collaboratively create, edit, and publish their own local medical guidelines in a secure and locally administrated environment. The Induction switch app is used by the majority of doctors within the NHS. The MicroGuide platform is used by the majority of trusts within the NHS

 

As at 31 January 2020, the Induction Switch app had 125,395 registered users, primarily in the UK. The registered user base grew by 57% from 31 March 2019 to 31 January 2020.

 

 

 


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Quick facts: Induction Healthcare Group PLC

Price: 110

Market: AIM
Market Cap: £46.26 m
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