MDY Healthcare - Strategic Investment
RNS Number:6024C
MDY Healthcare PLC
22 August 2007
MDY Healthcare plc invests in Lombard Medical Technologies PLC
22nd August 2007 - MDY Healthcare plc ('MDY Healthcare'), the strategic investor
in healthcare companies, today announces that it has acquired 2,450,000 shares
in Lombard Medical Technologies PLC (AIM: LMT) ('Lombard Medical' of 'the
Company') participating in both the June equity fundraising and more recently
acquiring shares in the market.
Headquartered near Oxford, Lombard Medical is a specialist cardiovascular device
and polymer coatings company. Its flagship product, the AorfixTM endovascular
stent graft for Abdominal Aortic Aneurysm (AAA), is CE Mark approved in the EU.
The Company has recently received full FDA approval to proceed with a pivotal US
clinical trial to treat patients with aneurysms where the neck of the aneurysm
is sharply angled (up to 90 degrees). With currently no device approved for the
treatment of AAA's with neck angulations greater than 60 degrees, AorfixTM has a
potentially unique product profile targeting an unmet clinical need.
Commenting on the investment, Charles Spicer, CEO of MDY Healthcare, said:
'We believe that Lombard Medical has made good progress towards commercialising
its product portfolio, in particular AorfixTM. With a focus in a specialised
high-value cardiovascular surgical area and growing US presence, the Company
fits our profile as a strategic investment within our growing portfolio.'
-ends-
For further information, please contact:
MDY Healthcare plc
Charles Spicer, CEO +44 (0) 207 647 1800
charles.spicer@MDYhealthcare.com
Financial Dynamics
Ben Atwell +44 (0) 207 831 3113
ben.atwell@fd.com
John Gilbert
John.gilbert@fd.com
Notes for editors:
About MDY Healthcare
MDY Healthcare plc is a sector specialised strategic investing company quoted on
AIM (ticker symbol: MDY). The company seeks to achieve superior returns for
shareholders by investing globally in companies, both public and private, across
the healthcare sector. The directors, executives and senior advisors have
significant operational and investment experience in the sector and therefore
the ability to identify and review a wide range of potential investments.
Further information can be found on the website www.mdyhealthcare.com
This information is provided by RNS
The company news service from the London Stock Exchange
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