MDST Medicsight

 

TIDMMDST 
 
RNS Number : 5704N 
Medicsight Plc 
19 February 2009 
 

 
 
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| Press Release                      |                   19 February 2009 | 
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Medicsight PLC 
 
 
("Medicsight" or "the Company") 
 
 
Board restructure 
 
 
Medicsight Plc (AIM: MDST), industry leader in the development of Computer-Aided 
Detection (CAD) and image analysis software which assists in the early detection 
and diagnosis of disease, today announces the following restructuring of the 
Board effective on 19 March 2009. 
 
 
Allan Rowley, currently Chief Financial Officer, becomes Chief Executive Officer 
while David Sumner, currently Chief Executive Officer, becomes Executive 
Chairman and Tim Paterson-Brown becomes a non-executive Director of Medicsight. 
 
 
As Chief Executive, Allan will drive forward a revised plan focused on 
increasing revenues from existing products and streamlining all areas of the 
business. This will be an ongoing process throughout the year. Allan also takes 
charge of the financial and operational performance of the Company. 
 
 
Allan has been CFO of Medicsight since 2006. Previously he worked for ComMedica 
Limited, a medical software company specialising in Picture Archiving & 
Communication System ("PACS") software.  Before joining ComMedica, Allan was 
revenue controller and the director of European Finance at Bea Systems, a 
NASDAQ-listed software company. Allan has several years of experience in public 
accounting in the United Kingdom and United States with Arthur Andersen and 
Ernst & Young, respectively. 
Allan will be supported by Troy Robinson who has been promoted to Chief 
Financial Officer, although this is not initially a Board position.  Troy joined 
Medicsight in February 2007 as Group Financial Controller. Prior to this he was 
the Finance Manager for IVAX Pharmaceuticals and HP Foods. Troy is an associate 
of the Chartered Institute of Management Accountants. 
 
 
As Executive Chairman, David Sumner will determine the overall strategy of the 
Company and will ensure that this strategy is agreed and effectively 
implemented. In addition, David will lead the promotion of best practice and the 
highest standards of corporate governance. 
 
 
David Sumner, Executive Chairman, commented: "We see 2009 as a pivotal year for 
the Company with the expected US and Japanese regulatory approvals around the 
corner. Medicsight, with its strong year end cash position of GBP18 million is 
in an excellent position to grow robust future revenues from these two strategic 
territories who currently use CT Colonography routinely in the detection and 
management of colorectal cancer.  These structural changes will enable 
me personally to focus on international developments and strategic partner 
discussions as part of our global drive for excellence and improvement of 
shareholder value. Allan's remit is to continue to help increase revenues, 
embark on streamlining the Company, and maximising all efforts at this critical 
stage of the Medicsight's development.  We look forward to him working in this 
new capacity." 
 
 
- Ends - 
For further information: 
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| Medicsight PLC                            | www.medicsight.com         | 
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| David Sumner                              | +44 (0)20 7605 7950        | 
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| Nomura Code                               |                            | 
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| Juliet Thompson                           | +44 (0) 20 7776 1204       | 
| Jonathan Senior                           | +44 (0) 20 7776 1219       | 
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  Media enquiries: 
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| Abchurch                                  | +44 (0) 20 7398 7700       | 
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| Heather Salmond / Stephanie Cuthbert /    | +44 (0) 20 7398 7718       | 
| Simone Alves                              |                            | 
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| stephanie.cuthbert@abchurch-group.com     | www.abchurch-group.com     | 
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Notes to editors 
Medicsight PLC is a UK-headquartered, research driven, leading developer of 
computer-aided detection (CAD) and image analysis software for the medical 
imaging market. The CAD software automatically highlights suspicious areas on 
computerised tomography (CT) scans of the colon and lung, 
helping radiologists to identify, measure and analyse potential disease and 
early indicators of disease. Medicsight's CAD software has been validated using 
one of the world's largest and most population diverse databases of verified 
patient CT scan data. Medicsight's ColonCAD(TM) and LungCAD(TM) software 
products are seamlessly integrated with the advanced 3D visualisation 
workstations of several industry-leading imaging equipment partners. 
 
 
About Computer-Aided Detection 
With increasingly sophisticated radiological imaging hardware such as 
Multi-Detector CT scanners, radiologists are facing a growing challenge in the 
amount of detailed patient image data that they must review for each patient 
examination. Some CT scan examinations generate as many as 2000 images per 
patient. Review of this data by the radiologist is not only time-consuming but 
also prone to error due to reader fatigue. CAD software can help the reviewing 
radiologist by analysing the image data and automatically highlighting 
suspicious regions of interest for closer inspection. Without CAD software some 
potential abnormalities or areas of disease may be overlooked. This can 
be critical for diagnosis and the management of patient outcomes as early 
detection of disease greatly increases the probability of successful treatment 
and a positive therapeutic outcome. In addition to supporting individual 
radiologists CAD also has the potential to help standardise CT interpretation 
across both individuals and institutions thereby supporting population based 
screening programmes. 
 
 
 
 
About Medicsight's CAD software 
Medicsight's ColonCAD(TM) and LungCAD(TM) software use an advanced CAD algorithm 
to analyse CT scans of the colon and lung and automatically highlight suspicious 
areas that may be indicators of disease. CAD may highlight areas easily 
overlooked by the reviewing radiologist, such as small lesions or regions that 
are hidden from view behind folds in the colon or normal structures and 
surrounding tissue in the lung. 
 
 
Both CAD products seamlessly integrate with the advanced 3D visualisation 
platforms of industry-leading imaging equipment partners. The integrated systems 
provide sophisticated image viewing capabilities, including 3D reconstructed 
image data, with the added advantage of demonstrating automatic CAD findings to 
assist clinical end users in the detection and analysis of disease. This allows 
clinical end users to perform either a 'second read', where CAD findings are 
displayed to the user after completion of an initial review of the CT scan data, 
or a 'concurrent read' where CAD findings are displayed during the user's 
initial review of the original CT scan images. 
 
 
Since inception, Medicsight has developed close and lasting relationships with 
some of the world's 
foremost clinicians in product related areas. 
This provides the Company with a wealth of clinical 
 expertise and dedicated 
clinical research to support ongoing product development. Medicsight 
also 
collaborates with a number of leading academic institutions and clinical esearch 
programmes 
 worldwide to develop the Company's comprehensive database of 
population diverse verified 
patient CT scan data, thus allowing Medicsight's 
products to be validated to the highest possible 
 standards. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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