Premaitha appoints new CEO in board reshuffle

Premaitha Health on Wednesday appointed Lyn Rees as chief executive and Keng Hsu as chief operating officer for Asia, after Stephen Little stepped up to become executive vice chairman.

The AIM-listed molecular diagnostics firm said that the appointment of Rees, a former BBI Group executive with almost two decades of experience, is to allow former CEO Little to focus on Premaitha’s technological development and expanding customer base.

Adam Reynolds, chairman of Premaitha, said: "We are delighted to welcome Lyn to Premaitha, during what is a very exciting phase in our development. Lyn's strong track record of driving growth in international markets and securing blue chip partners will be invaluable as we continue to commercialise our technologies."

Rees held the chief executive role at BBI for eight years and oversaw growth through the execution and integration of acquisitions and developing a plan based around product diversification and commercial globalisation.

Meanwhile, newly appointed chief operating officer for Asia, Keng Hsu has been working with Premaitha’s management team on the company’s Asian expansion since March 2017.

Prior to this, Hsu was chief financial officer at Yourgene Bioscience and joined Premaitha after his previous employer’s acquisition by the AIM traded firm.

"I look forward to working with Steve, Lyn and Keng as we continue to build Premaitha by leveraging our technological capabilities in molecular diagnostics, optimising our routes to market and maximising the group's international footprint," said Reynolds.

Finally, the company confirmed that non-executive director Alan Chang will step down from the board with immediate effect in order to focus on other interests.

AS of 0906 BST, Premaitha Health’s shares were up 2.65% at 7.75p.