14 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 the appointments of Penelope ("Penny") McCormick as Chief Executive and Lyn Rees as a Non-Executive Director.
Penny is a marketing specialist and Managing Director with extensive commercial leadership experience in the medical devices and women's healthcare sectors.
Penny previously led BBI Healthcare Limited (part of BBI Group), where her primary focus was developing a commercial strategy to secure the market-leading position for Balance Activ, the company's flagship bacterial vaginosis treatment. This included the securing of a £multi-million licence agreement with Bayer, the integration of the newly acquired Swedish manufacturing facility, and portfolio expansion to champion the category growth of women's 'over the counter' healthcare within U.K. retail. These successful launches into U.K. multiple grocery and high street pharmacy featured medical devices created to support women through various life stages including conception and menopause.
Her 12 year tenure at the BBI Group also saw delivery of a global marketing and integration strategy across the group's various entities through a rapid growth phase. Penny delivered strong financial growth, market impact, and developed skilled teams across OTC and B2B in highly competitive and margin-driven regulated markets.
Prior to joining BBI, Penny began her marketing career as a PR Manager at one of Wales' leading integrated agencies, followed by honing a specialism in FMCG within the licensed confectionery category, with a focus on growth within U.K. multiple grocery retailers. She holds an Honours degree in Journalism from Cardiff University.
Lyn is a seasoned executive in global healthcare and IVD markets. Prior to joining AIM-quoted Yourgene Health plc as CEO (formerly Premaitha Health plc), Lyn was Group CEO at British Biocell International (now BBI Group) for over 9 years.
He began that role at BBI Group following the acquisition of BBI Holdings by Alere in 2008, and in his time he oversaw the doubling of revenue growth and developed an accountable and highly effective senior management team with clear focus on innovation, commercial delivery, compliance and operational efficiency. He has a demonstrable track record of organic and acquisitive growth in the global Healthcare market.
Before this role, he spent several years as the Managing Director and founder of BBI Healthcare in 2006 following the successful purchase of the GlucoGel product. He first began his business career as the European Marketing Manager at Shimano Europe BV. Lyn holds a degree in Business Studies from the University of Wales.
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.