Melbourne, Australia – 13 May 2021: Adherium Limited (ASX: ADR), a leader in respiratory eHealth, remote monitoring and data management solutions, announces the appointment of Rick Legleiter as Chief Executive Officer of Adherium. The Board also announces the appointment of George Baran as a Non-Executive Director. Mike Motion, Adherium’s current CEO and Executive Director, has made the decision to step down from the Board and CEO position for personal reasons and will continue to support the business in a consulting capacity. Rick’s and George’s appointments take place with immediate effect.
The Adherium Board believes, given the conditionality of the Respiri Takeover Offer, that in the best interests of Adherium shareholders, it must continue “business as usual”. The appointment of Rick Legleiter has been made after an extensive executive search. It is intended that Rick be based in Melbourne, Australia conditional on obtaining an appropriate visa and travel exemption entitling him to enter from the US and lawfully work in Australia.
James Ward-Lilley, Chairman of Adherium commented “Rick brings to the business a strong career track record of global systems business development and partnering at Siemens along with successful Australia-based CEO business turnaround performance whilst at Universal Biosensors. Rick combines a clear vision for the business with strong detail focus and execution orientation. The intention is for Rick to be based in Melbourne, where he will directly oversee the further recruitment and development of the Adherium team in Australia.
I would like to thank Mike for his contribution and leadership of the business through the challenging COVID period, during which time Adherium has made important progress clarifying its strategy, moving forward the development of physiologically enabled inhalation sensors and the progression of commercial pilot programmes with HGE Health and Monaghan Medical (Trudell) in the United States.
I am also delighted to welcome George Baran to the Board, replacing Bryan Mogridge who stepped down from the Board in January. George brings over 35 years of medical device industry experience to the Board including business and technical leadership in the acquisition and development of novel medical device technologies. George serves as Executive Chair of the Trudell Medical Limited Board of Directors and his appointment reflects
Trudell’s commitment to Adherium’s success both as investors and as strategic partners developing integrated digital solutions for a range of devices in the respiratory setting”.
Mr Legleiter commented: “I look forward to coming back as a CEO in Australia. Having successfully grown laboratory diagnostics and imaging diagnostics businesses in the past, I see many parallels at Adherium working with our partners, payers and providers to grow the business and generate returns for our shareholders. I believe Adherium has a bright outlook. With the adoption of remote digital monitoring in healthcare accelerated by the SARS-CoV-2 pandemic, the development of a range next generation sensors, enabling physiological measurement capture beyond adherence alone, and wide partner interest, the commercial potential for the business is very promising. In my prior CEO role, I understood the requirement to bring founder style passion to the role. This is my commitment. I will apply my global executive leadership experience in strategic insights, partner cooperation, business development, and customer service with the clear mission focussed on execution, speed, and time to market, to create the results and returns expected from our shareholders and investors.”
George Baran commented: “I am pleased to be appointed to the Adherium Board. Trudell Medical Limited is committed to Adherium as a shareholder and business partner. Trudell is developing a strong digital capability with its respiratory device portfolio, including progressing further development and commercial opportunities with Adherium alongside the existing commercial pilot activity with our US Monaghan subsidiary.”