Avingtrans PLC - Cambridgeshire, England-based company which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors - Says investee Adaptix Ltd has appointed Willem Baralt as its new chair, succeeding Avingtrans Chief Executive Officer Steve McQuillan, who joined the Adaptix board on an interim basis December. McQuillan will continue as a non-executive director.
In late January, Avingtrans said Adaptix received clearance from the US Food & Drug Administration for its first orthopaedic medical imaging product. In 2021, Avingtrans invested GBP4 million in Adaptix for an 12% stake in the business. In December 2022, it announced a further investment of GBP2 million by means of a convertible loan note.
Current stock price: 378.56 pence, down 1.7%
12-month change: down 6.5%
By Greg Rosenvinge, Alliance News reporter
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Avingtrans (AVG)