Board changes - replacement
13 November 2019
Concepta PLC (AIM: CPT), the innovative UK personalised healthcare company and developer of the proprietary self-test platform ("myLotus®") the most accurate home-use fertility tracking and pregnancy testing system available on the U.K. market, announces that Matthew Walls, Chairman will step down with immediate effect, by mutual agreement.
Non-Executive Director Adam Reynolds will take on the role as Non-Executive Chairman with immediate effect. The Company has identified, and is in the final stages of appointing a highly experienced Chief Executive and additional Non-Executive Director, each with a distinguished track record in women's fertility and healthcare.
A further announcement will be made shortly once the Company's NOMAD has completed all regulatory due diligence required for their appointments.
Adam Reynolds commented: "I would like to thank Matthew for his efforts over the past 18 months. During his time as Chairman, the Company has achieved a number of key milestones including completing the development of, obtaining regulatory approval and entering into initial commercial partnerships for the myLotus product. The Company also announced last month the achievement of a major milestone in the first birth from the myLotus product, 10 months after its introduction into the UK market.
The Company is poised to announce a number of further births in the coming months and the new management team which will be announced shortly will take us through the next phase of growth."
Adam Reynolds, Non-Executive Chairman
Mob: +44 (0)7785 908 158
SPARK Advisory Partners Limited (NOMAD)
Tel: +44 (0)20 368 3550
Neil Baldwin / Mark Brady
Novum Securities (Broker)
Tel: +44 (0)20 7399 9400
Walbrook PR Ltd (Media & Investor Relations)
Tel: +44 (0)20 7933 8780
About Concepta PLC (www.conceptaplc.com)
Concepta PLC is an AIM-quoted pioneering UK healthcare company that has developed a proprietary product, myLotus®, targeted at the personalized mobile health market with a primary focus on hormone testing and increasing a woman's chances of naturally getting pregnant and to provide insight to unexplained infertility.
myLotus® is currently the only consumer product which allows both quantitative and qualitative home (self-test) test measurement of a woman's personal luteinizing hormone (LH) during ovulation and human chorionic gonadotropin (hCG) hormone level during pregnancy, facilitating higher conception rates and early diagnosis of fertility issues. The proposition of myLotus® is to empower women to better understand their hormone levels and menstrual cycle and help women conceive naturally by identifying their window of fertility and optimal time for conception.
The Company has received CE-mark certification for myLotus® and has launched its first product in the UK. The Company is preparing plans to roll-out across the core EU countries in 2019.
myLotus® is expected to be beneficial to users who have been unable to conceive after 6 months of trying. This highly motivated target group of women won't typically be offered medical intervention until after 12 months of unsuccessfully trying to conceive, with IVF not usually offered until after two years of trying to conceive. Research indicates couples start to take positive action ahead of this time typically with little medical support to help them do so.