Last checked at 16 Dec 2011 07:00
FIPP
Frontier IP Group Plc
("Frontier IP" or the "Company")
Appointment of Non-Executive Director
Frontier IP, which specialises in the commercialisation of university intellectual property, is pleased to announce that it has appointed Andrew Richmond to the Board as a Non-executive Director. Andrew will replace Tim Cockroft, who is stepping down from his role as a Non-executive Director. These changes will take place with immediate effect.
Andrew, aged 45, has substantial experience of the healthcare, stockbroking and private equity industries. He is currently a Lay Member of the Court of the University of Dundee, one of Frontier IP's three university partners. He is also a Non-executive Director of NHS Tayside, Chairman of the Angus Community Health Partnership and Deputy Chairman of the Scottish Ambulance Service.
Between 2002 and 2005, Andrew was a Director of Covenant Healthcare Group, the independent hospital provider backed by Phoenix Equity Partners ("Phoenix"), helping to build the business up until its sale for a substantial profit in 2005 to private equity firm Electra (now known as Cognetas). He also worked as an adviser on healthcare for Phoenix from 2002 to 2003. Previously, Andrew was a number one rated Healthcare, Pharmaceuticals, Biotechnology and Smaller Companies Analyst, having worked on the buy side at Fleming Investment Management and the sell side at UBS Phillips & Drew and then at Collins Stewart.
Commenting on the appointment, Executive Chairman of Frontier IP, Neil Crabb said,
"We are delighted to welcome Andrew to the Board. Andrew's experience in the healthcare and private equity industries and close working relationship with the University of Dundee represent an excellent fit with Frontier IP's activities. Andrew has a breadth of experience in both private and public sectors and I am sure he will make a valuable contribution as we continue to grow.
In addition, I would like to thank Tim Cockroft for his contribution during an important time in the development of the Company."
Andrew Richmond said, "I am very pleased to be joining the Board of Frontier IP. My appointment comes at an exciting time for the Company and its rich stream of partner intellectual property. I look forward to working with my new colleagues to further the expansion and growth of the business."
Disclosures required pursuant to Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies
Kevin Andrew Richmond currently holds the following directorships or partnerships:
Rushyglen Limited
Laverock Properties Limited
For further information please contact:
Frontier IP Group plc T: 0131 220 9491
Neil Crabb, Executive Chairman
Biddicks T: 020 3178 6378
Katie Tzouliadis/ Sophie McNulty
Arbuthnot Securities Limited T: 020 7012 2000
Tom Griffiths/Ed Groome