Ergomed plc Appointment of CFO (0474B)
04 June 2019 - 4:00PM
UK Regulatory
TIDMERGO
RNS Number : 0474B
Ergomed plc
04 June 2019
PRESS RELEASE
Ergomed Strengthens Executive Team with Appointment of Richard
Barfield, Formerly of Chiltern International, as Chief Financial
Officer
Guildford, UK - 4 June 2019: Ergomed plc (LSE: ERGO) ("Ergomed"
or the "Company"), a company focused on providing specialised
services to the pharmaceutical industry, today announces the
appointment of Richard Barfield FCA as Chief Financial Officer,
effective immediately. Richard replaces Stuart Jackson, who leaves
Ergomed to return to the energy sector, as announced in February
2019.
Since qualifying as a chartered accountant, Richard has more
than 25 years' experience at Chief Financial Officer level in the
healthcare, technology and business services sectors in US
multinational companies as well as in UK-listed and PE-backed
businesses. His expertise includes turnarounds, fundraisings,
acquisitions and disposals, and he has extensive international
experience. Richard has also held roles as Chief Executive Officer,
Chairman, and Audit Committee Chairman of UK-listed companies as
well as serving as a Board Member of a world-leading teaching
hospital.
Richard has proven experience within the contract research
sector having most recently been Chief Financial Officer at
Chiltern International Ltd from July 2013 to March 2018, which was
a leading global mid-tier private CRO. During his five years at
Chiltern, Richard was instrumental in transforming the corporate
finance and strategy of the business, enabling it to grow revenues
from $160m to $550m. The eventual sale of Chiltern to Covance, a
division of the US-listed healthcare company Laboratory Corporation
of America Holdings (LabCorp), in late 2017 for $1.2bn delivered a
cash return of over 4x to investors in Chiltern's December 2013
refinancing.
The Company intends to appoint Mr Barfield as an Executive
Director of the board of Ergomed plc (the "Board"), and it is
expected that he will be appointed with effect from the conclusion
of the Company's AGM on 18 June 2019, following completion of
customary due diligence by the Company's Nominated Adviser.
Dr Miroslav Reljanović, Executive Chairman of Ergomed,
commented: "Richard has an exceptional track record as a CFO and
played a pivotal role in the growth of Chiltern, a leading
international mid-tier CRO, and in its successful acquisition by
Covance which generated significant returns for shareholders. His
previous public market experience as a CFO, CEO and on multiple
Boards will add considerable strength to our Company as we deliver
on Ergomed's growth strategy."
Richard Barfield, said: "As a full-service CRO with a global
platform, Ergomed is well positioned to capitalise on its strengths
as a specialist provider of services to the pharmaceutical
industry. The combination of its clinical research services,
specific focus on orphan drug development, and fast-growing
pharmacovigilance offering present a clear opportunity to build a
global mid-tier service business. The Company has had a strong
start to the year and I am excited by the opportunity to bring my
expertise to bear to help Ergomed continue to build on that
platform."
A further announcement, including the disclosures required under
Rule 17 and Schedule Two paragraph (g) of the AIM Rules for
Companies, will be made at the time of Mr Barfield's appointment to
the Board.
Enquiries:
Ergomed plc Tel: +44 (0) 1483 402
975
Miroslav Reljanović (Executive Chairman)
Numis Securities Limited Tel: +44 (0) 20 7260 1000
Freddie Barnfield / Huw Jeremy (Nominated
Adviser)
James Black (Broker)
Consilium Strategic Communications - for Tel: +44 (0) 20 3709 5700
UK enquiries
Chris Gardner / Mary-Jane Elliott ergomed@consilium-comms.com
Matthew Neal / Olivia Manser
MC Services - for Continental European Tel: +49 211 5292 5222
enquiries
Anne Hennecke
About Ergomed plc
Ergomed provides specialist services to the pharmaceutical
industry spanning all phases of clinical development, post-approval
pharmacovigilance and medical information. Ergomed's fast-growing,
profitable services business includes an industry leading suite of
specialist pharmacovigilance solutions, integrated under the
PrimeVigilance brand, and a full range of high-quality contract
research and trial management services under the Ergomed brand
(CRO), and an internationally recognised specialist expertise in
orphan drug development, under PSR. For further information, visit:
http://ergomedplc.com.
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END
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