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Medica Group ropes in Richard Jones as its new CFO

By Josh White

Date: Monday 30 Mar 2020

Medica Group ropes in Richard Jones as its new CFO

(Sharecast News) - Teleradiology service provider Medica Group announced on Monday that Richard Jones has been appointed as its chief financial officer, and an executive director on its board.
The London-listed firm said Jones would succeed Tony Lee, who was stepping down as finance director following the announcement on 11 March that he would leave after 10 years with the company.

Following a transition period, Jones will join the firm later in the year, at a date to be announced in due course.

The board said he was bringing 20 years of "extensive" experience working with and in fast-growing healthcare businesses, nine of which were as a proven CFO of two listed UK healthcare firms.

Jones is currently CFO at Mereo BioPharma Group, and was previously CFO at Shield Therapeutics.

He is also currently a non-executive director and chair of the audit committee at Alliance Pharma.

The board said Jones, a Chartered Accountant, started his career with PricewaterhouseCoopers and moved into investment banking, where he specialised in the healthcare services sector, initially as a research analyst and then into corporate finance as head of healthcare at Investec.

"I am delighted to announce that Richard Jones will join Medica as CFO and a member of the board," said chairman Roy Davis.

"We are confident that Richard's experience as a listed company CFO, coupled with his background in healthcare as a research analyst and corporate finance director, will support our engagement with investors as we implement our growth strategy."

Chief executive officer Dr Stuart Quin added that Jones was "well-known" within the UK healthcare market, saying he was "pleased" that he had decided to join the company.

"Medica has ambitious plans to expand and diversify its service offering and Richard's leadership will be important as we develop the internal finance function at Medica, as well as to shape new business opportunities that will enable future growth."

Richard Jones himself said he was "excited" to be joining Medica as CFO, and to be returning to the healthcare services market.

"Medica has a great opportunity to continue to cement its leading position in the UK teleradiology market, as well as look to grow through new opportunities.

"I look forward to working [with] the executive team on this next stage of development."

At 1542 BST, shares in Medica Group were up 4.93% at 106.5p.

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