Medisys PLC - Re Directorate
14 Dezember 1998 - 8:33AM
UK Regulatory
RNS No 9743w
MEDISYS PLC
14th December 1998
APPOINTMENT OF CHIEF FINANCIAL OFFICER
Medisys PLC ("Medisys"), a leading provider of diagnostic, medical and safety
products, announces the appointment of Michael Barry as Chief Financial
Officer and to the board of directors effective 18 January 1999.
Mr. Barry spent eight years (1988 to 1996) in a number of senior management
positions at Elan Corporation, plc, the leading Irish drug development
company, which is listed on the New York, London and Dublin Stock Exchanges.
He was appointed Group Vice President Finance in 1988. In addition to
participating in numerous public financings, he established and managed
financial reporting systems. In 1995, he was appointed Corporate Vice
President and Head of Pharmaceutical Operations with responsibility for the
general management of Elan's two principal pharmaceutical manufacturing
plants, one in Athlone, Ireland and the other in the US with combined annual
sales of approximately $60 million.
In mid 1996, Mr. Barry became finance director of Fountainhead Holdings
Limited, the holding company that manages the business interests of Dr. Donald
E. Panoz, the founder and former Chairman and Chief Executive Officer of Elan.
In this role, Mr. Barry oversaw financial operations and negotiated business
relationships for Dr. Panoz's varied interests. Dr. Panoz has been a member
of the Medisys board since May 1998. Mr. Barry, aged 41, trained as an
accountant at Price Waterhouse. Brian Timmons, the current Finance Director
of Medisys, will leave in 1999 to pursue other interests.
Commenting on the appointment, Kurt E. Amundson, President and Chief Operating
Officer of Medisys, said:
"Michael brings with him a wealth of industry as well as general business
experience, particularly in financial structuring and reporting which will
help support Medisys in its growth. We want to thank Brian Timmons, the
current Finance Director, for his contributions and efforts in the formation
and early stage development of Medisys."
Following Medisys' recent successful #15 million convertible bond offering,
led by Nomura International, the acquisition of Lukens Medical Corporation has
now been completed. The Medisys group now consists of two core operating
divisions, a diagnostics division and a medical supplies and safety division.
Enquiries:
Medisys PLC
Kurt Amundson, President & Chief Operating Officer Tel: 001 650 327 7900
Gavin Anderson & Company
David Yates/Sophie Pender-Cudlip Tel: 0171 457 2345
END
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