AorTech International PLC Board Change (6168M)
October 14 2016 - 10:41AM
UK Regulatory
TIDMAOR
RNS Number : 6168M
AorTech International PLC
14 October 2016
AorTech International plc
("AorTech"or the "Company")
Board Changes
AorTech International plc (AIM: AOR), the biomaterials and
medical device IP company, announces that Eddie McDaid has informed
the Board of his intention to resign, as Chief Executive Officer
("CEO") of the Company with effect from the 31(st) October 2016. Mr
McDaid has served as CEO since December 2013 and having resolved a
number of issues now feels it is time to retire from the Board.
Bill Brown will assume CEO responsibilities.
The Directors would like to thank Mr McDaid for his contribution
to and leadership of the Company whilst he served as CEO in what
was a very difficult time and his substantial efforts and
commitment in stabilising the business and wish him well in
retirement.
The Board is pleased to announce the appointment of Mr. John
McKenna, aged 63, to the Board as Non-executive Director with
effect from 31(st) October 2016. Mr McKenna has a long and
successful career in sales and marketing of medical devices,
particularly in the cardio vascular sector. Mr McKenna will serve
as a Non-executive Director but his focus will be on business
development and exploring opportunities for AorTech to further
exploit its portfolio of Intellectual Property assets.
Current directorships held by Mr McKenna and directorships held
by him in the last five years are as follows:
Current directorships/partnerships: Former directorships/partnerships
held in the last 5 years:
John McKenna 1953 Limited None
There is no further information disclosable in respect of Mr
McKenna's appointment, pursuant to Schedule 2(g) of the AIM Rules
for Companies.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of Regulation
596/2014.
For further information contact:
AorTech International plc
Bill Brown, Chairman Tel: +44 (0)7730 718296
finnCap Limited
Giles Rolls / Jonny Franklin-Adams Tel: +44 20 7220 0500
About AorTech:
AorTech has developed biostable, implantable polymers, including
Elast-Eon(TM) and ECSil(TM) the world's leading long-term
implantable co-polymers, now manufactured on their behalf by
Biomerics LLC in Utah, USA. With several million implants and seven
years of successful clinical use, AorTech polymers are being
developed and used in cardiology and urological applications,
including pacing leads, cardiac cannulae, stents and neuro
stimulation devices. Devices manufactured from AorTech polymers
have numerous US FDA PMA approvals, 510k's, CE Marks, Australian
TGA and Japanese Ministry of Health approvals.
Elast-Eon(TM) and ECSil(TM)'s biostability is comparable to
silicone while exhibiting excellent mechanical, blood contacting
and flex-fatigue properties. These polymers can be processed using
conventional thermoplastic extrusion and moulding techniques. A
range of materials in a variety of application-specific
formulations for use in medical devices and components are
available.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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