2 September 2019
Medica Group Plc
Medica Group Plc (LSE: MGP, "Medica" or the "Company"), the UK market leader in the provision of teleradiology services, confirms that further to the announcement on 9 May 2019, John Graham stood down from the Board and as Chief Executive Officer on 31 August 2019 and that Stuart Quin was appointed to the Board as Chief Executive Officer on 1 September 2019.
Roy Davis, Chairman of Medica, said:
"I would like to express the Board's gratitude to John as he steps down as Medica's Chief Executive Officer and to welcome Stuart Quin to the Company for the next stage in Medica's journey. Stuart brings a wealth of relevant experience and is ideally suited to leading Medica through its next stage of development. John has successfully led the business since he joined Medica in 2011, delivering year-on-year organic growth and he leaves the company well positioned for the next phase of its growth after a planned handover to Stuart. We thank John for his dedication to the business and wish him every success in the future."
Stuart Quin, Chief Executive Officer of Medica, said:
"I am delighted to join Medica as CEO and am looking forward to working with the team to continue to grow the business and expand the range of services offered to our clients."
Medica will announce its interim results for the six months ended 30 June 2019 on Monday 9 September 2019.
For further details contact:
+44 (0)33 33 111 222
Roy Davis, Chairman
Stuart Quin, Chief Executive Officer
Tony Lee, Chief Financial Officer
Investec Bank plc
+44 (0) 207 597 5970
+44 (0)20 3727 1000
Victoria Foster Mitchell
About Stuart Quin
Stuart Quin joins Medica from Synlab, the international laboratory diagnostic services provider, where he was Head of Central and Eastern Europe, Middle East and Africa. Previously he was Synlab's Group Chief Commercial Officer and Chief Executive of its UK operations. Stuart brings a track record of delivering significant growth both in the UK and internationally and has extensive experience of working in partnership with the NHS. During Stuart's tenure in the UK he expanded the business by winning new diagnostic service contracts and through the acquisition of four companies that significantly diversified Synlab's service offering for customers. Prior to joining Synlab, Stuart worked in private equity both as an Investment Director at August Equity and for seven years at 3i in the UK and Germany as an Associate Director focusing on investing in healthcare. Stuart also spent four years at Accenture in the US and UK as a Manager in the health and life sciences strategy consulting practice. Stuart holds a BSc (Hons) in immunology from the University of Edinburgh, a PhD in immunology from Imperial College London and an MBA from INSEAD.
Medica is the UK market leader by revenue in the provision of teleradiology services, providing outsourced interpretation and reporting on MRI (magnetic resonance imaging), CT (computerised tomography) and plain film (x-ray) images. The Company currently offers three primary services to hospital radiology departments: NightHawk, an out-of-hours service, routine cross-sectional (Routine CS) reporting on MRI and CT scans, and routine plain film (Routine PF) reporting on x-ray images.
Medica has developed a bespoke secure IT platform that provides market-leading linkage between a hospital's Radiology Information System (RIS) and Consultant Radiologists who contract with Medica. Direct RIS access ensures that the full wider patient information is available and reviewed with every report.
The Company contracts with the largest pool of consultant radiologists outside of the NHS and has been trusted to provide more than 1.5 million examinations annually across its customer base of more than 100 NHS hospitals and various private hospital groups and diagnostic imaging companies. For more information please visit www.medicagroup.co.uk
Teleradiology is the electronic transmission of radiological patient images, including plain film (x-rays), CT scans and MRI sc1ans, from one location to another for the purposes of diagnostic interpretation and reporting.
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