Induction Healthcare Group PLC

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

Directorate Changes

Appointment of Senior Independent Director

Appointment of Interim Chief Financial Officer

Induction (AIM: INHC), a leading digital health platform driving transformation of healthcare systems worldwide, announces the following Board changes. Ian Johnson has been appointed to the Board as the Senior Independent Director ('SID') replacing Leslie-Ann Reed who will be stepping down following completion of her three-year term.   Andy Williams is also appointed Chair of the Audit Committee. 

Alongside this, Guy Mitchell, will step down from his position as Chief Financial Officer ('CFO') due to personal reasons and will be replaced by John McIntosh as interim CFO, a non-Board position. Guy has resigned as a Director with immediate effect, but will remain with the business for a short handover period.

Ian Johnson appointed as Senior Independent Director

Ian brings over 30 years of Board experience working with quoted and private companies in the Life Sciences space, having spent a career providing strategic direction and business development expertise. He has a proven track record of overseeing business growth and providing commercial advice through scale-up, organic growth and M&A activity. 

Ian is currently Executive Chairman of NIOX Group plc, a business focused on improving asthma diagnosis and management. In addition, Ian is Operational Adviser at Harwood Private Equity focusing on the Life Sciences sector. He was founder and CEO of Biotrace International Plc before its sale to 3M in December 2006 and has previously been SID of Clinigen plc. Ian has also acted as Executive Chairman for Bioquell PLC, Non-Executive Chairman of Quantum Pharma plc, Cyprotex PLC, Biofortuna Limited and Celsis Group and Non-Executive Director of Ergomed PLC.

John McIntosh appointed as Interim CFO

John is a highly experienced AIM CFO who has worked as a consultant CFO, interim Finance Director and CFO for public and private entities in the UK, USA, and Europe. After qualifying with Deloitte in 1994, John worked with SONY, DMB&B and the BBC, before focusing towards online, and multi-media businesses.   

John was Director and CFO of Bidstack Group plc ("Bidstack") for three years until 2021, where he led the business from its early stages, through its successful admission to AIM in September 2018, to become a leading multi-market international business. Prior to this, he was interim FD and Board member of Progility PLC for three years.  He was also CFO and Chief Operating Officer for DCD Media plc for five years.

John's appointment is an interim role, and the Board are actively recruiting to appoint a permanent CFO. 

Induction CEO, James Balmain, said: "I would like to extend my thanks of behalf of the Board to Leslie-Ann for her contribution during a transformation period. We are grateful for Leslie-Ann's support, and she will be missed.

"I wish Guy the very best for the future and would like to welcome John and Ian, who both bring extensive AIM experience to Induction."

Disclosures in accordance with the AIM Rules

Mr Ian Roy Johnson, aged 69, is, or has been, a director or partner of the following companies or partnerships during the past five years:

Mr Johnson owns 20,000 shares in Induction.

Mr Johnson was appointed director of Pure Options Solutions Limited in December 2009. Pure Options Solutions Limited subsequently entered into administration in November 2010 and the company was dissolved following liquidation in September 2014. The estimated deficiency to investors and creditors was approximately £4.5 million.

Mr Johnson was appointed director of Toximet Limited in September 2013. Toximet Limited subsequently entered into administration in November 2015, creditors voluntary liquidation in November 2016 and was dissolved following liquidation in August 2017. The estimated deficiency to investors and creditors was approximately £0.8 million.

There are no further disclosures required in accordance with AIM Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.

ENQUIRIES

About Induction - www.inductionhealthcare.com

Induction (AIM: INHC) Induction delivers a suite of software solutions through a single integrated platform that transforms care delivery. Our system-wide applications help healthcare providers and administrators to deliver care at any stage remotely as well as face-to-face - giving the communities they serve greater flexibility, control and ease of access. Purpose-built for integration with leading Electronic Medical Record (EMR) platforms, our products offer immediate stand-alone value that becomes even greater when integrated with pre-existing systems.

Used at scale by national and regional healthcare systems, as well non-health government services, our applications are relied upon by hundreds of thousands of clinicians and millions of patients across almost every hospital in the British Isles.