7th July 2020

Listed Healthcare Company Relocates HQ To Cardiff

A listed personalised healthcare company has relocated its headquarters to Cardiff.

Concepta, whose shares trade on AIM, has changed its registered office with immediate effect to The Maltings in East Tyndall Street.

In a statement, the business said the move had resulted in a 50 per cent cost reduction of its head office overheads, formalising remote working practices and closing the Bedfordshire base.

The savings will allow the redeployment of funds associated with operational overheads into commercial activities and research and development investment into the wider product portfolio.

A statement added: “At the end of last year the new management team had identified a number of cost reduction opportunities and in January this year the company was able to announce that it has already achieved a 30 per cent cost reduction to the current operating overhead.

“In addition to this the company has also rationalised its manufacturing footprint and signed an outsourced manufacturing agreement with Abingdon Health

“Excluding transfer costs, this move has halved the company’s facilities outgoings.”

Concepta has also announced the relaunch of its newly branded home-use personalised fertility tracking and pregnancy self-testing system, MYLO (previously called myLotus).

Chief executive Penny McCormick said: “The launch of the MYLO brand and our new marketing campaign is fitting for our proven and reliable technology, and it’s been essential for us to develop a contemporary brand with longevity that can carry our ambitious strategy and future portfolio development.

“We are now moving towards 5,000 app downloads and aim to invigorate awareness of our product and help inform those who are currently considering conceiving or who are already on that journey.

“As part of our marketing efforts we will invest in customer acquisition and seek to take a leading role in influencing ability to conceive in the pre-IVF space.

“Just this week we heard from a new HFEA report that the NHS funded less than 30 per cent of IVF treatments in parts of England than in 2018, with many areas cutting funding.

“We will continue to support women and couples through their fertility pathway, whilst developing a strategy that adds customer value and support, and gives them the chance to be proactive in their journey towards natural conception.”