MDY Healthcare - AGM Statement
RNS Number:2927T
MDY Healthcare PLC
29 April 2008
29 April 2008
MDY Healthcare plc ('MDY Healthcare')
AGM STATEMENT
At today's Annual General Meeting, David Wong, Chairman of MDY Healthcare, will
make the following statement:
'Since the last AGM we have evolved our strategic investment model and expanded
our portfolio in the context of extremely challenging market conditions for
public companies especially at the smaller cap end of the market.
'Our strategic portfolio is now predominantly focussed on investments in medical
technology and the majority of our exposure is to private companies. We have
prioritised a smaller number of larger investments where we own a significant
share of the company and can strategically drive shareholder value. Our joint
venture with William Ransom & Son is proceeding well and we have seen good
progress from Medivance and AOI, our two other larger investments. The
announcement of the acquisition of Stanmore Implants in February by a management
team led by Brian Steer, one of our senior advisers, was an important milestone
for MDY Healthcare. It shows that excellent investments are still possible in
the medtech sector and that we can attract sophisticated investors to invest
alongside us.
'We anticipate that the remainder of 2008 will continue to be very challenging
for all businesses especially smaller public companies but should also create
opportunities for strategic investors such as MDY Healthcare.
'In June, we will be announcing our interim results for the six months ended 31
March 2008 and we will update shareholders further at that time.'
End
Contact
MDY Healthcare plc
Charles Spicer: +44 (0) 207 647 1800
Financial Dynamics
Ben Atwell/Susan Quigley: +44 (0) 207 831 3113
Brewin Dolphin Limited (Nomad)
Matt Davis: +44 (0) 845 270 8600
For further details on MDY Healthcare please see our website -
www.mdyhealthcare.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMMGGZDRRLGRZM