3rd August 2012

New Chairman & Board Members for Hi-Tech Welsh Company Magstim

Magstim, an innovative & award winning Wales-based medical device manufacturer, has announced two new important additions to its Board of Directors.

Richard Whittington has been appointed as Chairman of the Magstim Board.  Richard is a chartered accountant and recently retired from KPMG as a senior partner where he was Partner-in-Charge of the Infrastructure, Government and Healthcare audit group and simultaneously Global Head of Building and Construction, based in London. He worked with many clients over the years, ranging from listed international businesses to smaller owner managed entities and in four different KPMG offices, including Hong Kong.

Dr Daniel Roach joins the Magstim Board as a Non Executive Director.  In 1993, Daniel joined Advanced Technology Management Limited (ATM), which helped form and seed nine companies, seven of which are listed on Stock Exchanges – Acambis, Chiroscience, CeNeS, Core, Lidco, Oxford Biomedica and Salix.  He co-founded Peptide Therapeutics (now Acambis) in 1993, CeNeS in 1996, Amura in 1997. He is currently an investment director of Avlar.

Magstim provide clinicians and researchers with state-of-the-art stimulation and monitoring equipment to facilitate the assessment, protection and improvement in function of the human nervous system, with effort focused on applications related to magnetic neurological stimulation and intra-operative nerve monitoring.

Magstim is renowned in its field as the manufacturer of the most widely-used TMS (Transcranial Magnetic Stimulation) Stimulator in the world.  These stimulators are used by neuroscience researchers to investigate the connectivity of the brain, with results that have implications for the diagnosis and treatment of multiple sclerosis, central motor disorders, motor neurone disease and spinal injury.

Magstim is also responsible for the Neurosign range of intra-operative monitors and accessories, which are routinely used by ENT (Ear, Nose and Throat) surgeons to protect vital facial nerves during complex surgery. Given these applications of their products, Magstim has longstanding contacts with key opinion leaders within the clinical and academic sectors.

“Richard & Daniel will both bring a wealth of expertise in finance and of rapidly expanding companies” says Robin Davies, Magstim’s Managing Director.  “Their input will ensure that the company continues in and expands on its international success, and capitalises on new clinical market opportunities that are emerging.”

The Magstim Company Limited design, develop and market medical devices used in neuroscience research labs and the operating theatre.  It started trading in 1990 and last year won the Queen’s Award for increasing its overseas earnings by 66% to over £7 million per annum and selling 84% of its production overseas.  It also featured in the ‘Fast Growth 50’ of Welsh Companies.

(This article has been edited by MediWales.  For the original article, please click here)