MDST Medicsight

TIDMMDST

RNS Number : 8725D

Medicsight Plc

30 March 2011

 
 Press Release   30 March 2011 
 

Medicsight PLC

("Medicsight" or "the Company")

Board Changes

Medicsight PLC (AIM: MDST), an industry leader in the development of Computer-Aided

Detection (CAD) and image analysis software, announces that John Costello and Troy Robinson have stepped down from the Board of the Company with immediate effect. Robert Ladd and Richard Taney, both Directors of MGT Inc, have joined the Board as Non-Executive Directors. Peter Venton remains in the role of Non-Executive Chairman until the search for a new Non-Executive Chairman is complete at which stage Mr Venton will continue on the board as Senior Independent Non-Executive Director.

Allan Rowley, Chief Executive Officer, said: "We are delighted that Robert and Richard have agreed to join Medicsight as Non-Executive Directors. The Board would like to extend our thanks to John Costello for the clinical guidance and expertise that he has provided to the Company over the past years. I am happy to say that the Board will continue to be supported by Troy Robinson as Chief Financial Officer."

Mr Robert B Ladd, is 52 years of age. Mr Ladd does not hold any interest in the share capital of the Company other than (a) as an officer of MGT (of which LaddCap Value Advisers LC also holds a 22% interest and (b) accordingly Mr Ladd is deemed to have an indirect interest of 12% in the capital of the Company. Mr Ladd has the current and past directorships or partner roles in the companies or partnerships set out below. There is no other information in relation to Mr Ladd required to be disclosed pursuant to Rule 17 and Schedule 2 (g) of the AIM Rules for Companies.

Mr Richard Lawrence Taney, 54 years of age, does not hold any interest in the share capital of the Company other than as an officer of MGT. Mr Taney has the current and past directorships or partner roles in the companies or partnerships set out below. There is no other information in relation to Mr Taney required to be disclosed pursuant to Rule 17 and Schedule 2 (g) of the AIM Rules for Companies.

This announcement sets out the disclosures required pursuant to Schedule 2, paragraph (g) of the AIM Rules for Companies in respect of this appointment.

Mr Robert B.Ladd

 
 Current Directorships             Past Directorships 
--------------------------------  --------------------- 
 LaddCap Value Partners LP         Infocus Systems, Inc 
 LaddCap Value Advisors LLC 
 LaddCap Value Associates LLC 
 MGT Capital Investments, Inc 
 MGT Capital Investments (UK) 
  Limited 
 MGT Capital Investments Limited 
 Delcath Systems, Inc 
 

Mr Richard Lawrence Taney

 
 Current Directorships             Past Directorships 
--------------------------------  -------------------------------- 
 MGT Capital, Inc                  Delcath Systems, Inc 
 PalliaTech, Inc                   T2 Capital Management 
 Compassionate Sciences ATC, INC   Barida Corporation 
                                   The Feigenbaum Taney Charitable 
                                    Foundation, Inc 
 

- ENDS -

For further information:

 
 Medicsight plc 
 Allan Rowley, CEO                 Tel: +44 (0)207 605 7950 
                                   www.medicsight.com 
 Daniel Stewart & Co 
 Noelle Greenaway / Oliver Rigby   Tel: +44 (0) 207 776 
                                    6550 
                                   www.danielstewart.co.uk 
 

Media enquiries:

 
 Abchurch 
 Simone Elviss / Quincy Allan / Adam   Tel: +44 (0) 207 398 
  Michael / Julian Bosdet               7728 
 simone.elviss@abchurch-group.com      www.abchurch-group.com 
 

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 developed using a large and population diverse database of verified patient CT scan data. Medicsight's ColonCAD(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) 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 research 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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