IDH.L Regulatory News (IDH)

14 December 2012

Immunodiagnostic Systems Holdings plc

Chris Yates appointed as Group Finance Director

Immunodiagnostic Systems Holdings plc ("IDS"), a leading producer of manual and automated specialist diagnostic testing kits and instrumentation for the clinical and research markets, today announces that Chris Yates has been appointed Group Finance Director, with effect from 4th March 2013. 

Chris Yates, aged 38, joins IDS from private equity backed Nexus Vehicle Holdings Limited, where he has acted as Group Finance Director since January 2009. During his time at Nexus, as well as holding overall responsibility for finance and human resources, Chris oversaw the acquisition of Adapted Vehicle Hire Limited in May 2010.

From 2005 to 2007, Chris held the position of Group Finance Director at Cozart plc, allowing him to gain significant experience in the medical diagnostics industry.  During his time at Cozart, Chris led the acquisitions of four European companies: Spinreact SA (Spain), HL Scandinavia (Sweden), Nemesis Scientific Limited (UK) and Medib Skandinavien AB (Sweden) creating a pan-European medical diagnostics group. Cozart was subsequently acquired by Concateno plc (now part of Alere Inc.) in October 2007 for £64m in cash.

In 2008 Chris then furthered his industry expertise by acting as Co-founder and Finance Director of private specialist diagnostics company, Abingdon Health Limited.

From 4th March 2013 Barry Hextall, currently interim Group Finance Director, will resume his previous role as Deputy Group Finance Director.

Patrik Dahlen, Chief Executive Officer of IDS, commented: "It is a pleasure to announce that Chris Yates will be joining our team as Group Finance Director. As well as having a strong financial background, I am confident that Chris's knowledge and experience in the diagnostics industry will prove to be invaluable to IDS during this crucial time in the evolution of the business as a leading innovator and provider of specialist assays and diagnostic testing kits.

"I would also like to thank Barry Hextall for his continued support as Interim Finance Director."

For further information:

Additional Information

Christopher Henry Francis Yates (aged 38) currently holds and has held (including all appointments during the five years preceding the date of this announcement), the following directorships and partnerships, other than the Company:

Current directorships:

Adapted Vehicle Hire Limited

Forsite Diagnostics Limited

Nexus VRM Limited

Nexus Vehicle Management Ltd

Nexus Vehicle Holdings Limited

Abingdon Health LTD

Chris currently has no shares in the Company and there are no other disclosures required pursuant to Rule 17 and Schedule 2; paragraph (g) of the AIM Rules for Companies.

About Immunodiagnostic Systems Holdings PLC

The Group operates in the in-vitro diagnostics ("IVD") market by designing, manufacturing and selling immunoassay kits as well as its automated analyser, the IDS-iSYS System. The IDS product range is used to measure or detect particular substances within a sample, thus aiding the diagnosis or monitoring of a disease or providing information for research studies.

http://www.idsplc.com