TIDMMGP
RNS Number : 4162T
Medica Group PLC
25 March 2021
25 March 2021
Medica Group plc
Completion of Acquisition of RadMD & Director/PDMR
Dealings
Medica Group PLC (LSE: MGP, "Medica" or the "Company"), the UK
and Ireland market leader in the provision of teleradiology
services, is pleased to confirm that, further to its announcements
of 22 March 2021 regarding the acquisition of RadMD LLC (the
"Acquisition and Trading Update") and the placing and subscription
of new ordinary shares (the "Fundraise Announcement"), and the
subsequent successful Admission of the New Shares at 8:00am today,
the Acquisition of RadMD LLC has now completed.
Unless otherwise defined herein, capitalised terms used in this
announcement shall have the same meaning as those used in the
Acquisition and Trading Update and Fundraise Announcements.
Director/PDMR Dealings
As announced on 23 March 2021, all of the Directors, Junaid
Bajwa and certain other persons discharging managerial
responsibilities ("PDMRs") agreed to subscribe for Subscription
Shares at the Placing Price. The following notifications are made
under article 19 of the Market Abuse Regulation ("MAR") relating to
certain transactions by persons discharging managerial
responsibilities ("PDMR"):
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Roy Davis
------------------------------- --------------------------------
2 Reason for the notification
-----------------------------------------------------------------
a) Position/status Chairman
------------------------------- --------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------- --------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------
a) Name Medica Group PLC
------------------------------- --------------------------------
b) LEI 213800B8XE5FUSZF5Z16
------------------------------- --------------------------------
4 Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------
a) Description Ordinary shares of 0.2p
of the financial
instrument, GB00BYV24996
type of instrument
b) Nature of the Subscription of Ordinary Shares
transaction
------------------------------- --------------------------------
c) Price(s) and Price Volumes
volume(s) (s) (s)
145 pence 20,689
--------
------------------------------- --------------------------------
d) Aggregated information
* Aggregated volume N/A
N/A
* Price
e) Date of the 25 March 2021
transaction
f) Place of the Outside a trading venue
transaction
------------------------------- --------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Steve Whittern
------------------------------- --------------------------------
2 Reason for the notification
-----------------------------------------------------------------
a) Position/status Non-Executive Director
------------------------------- --------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------- --------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------
a) Name Medica Group PLC
------------------------------- --------------------------------
b) LEI 213800B8XE5FUSZF5Z16
------------------------------- --------------------------------
4 Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------
a) Description Ordinary shares of 0.2p
of the financial
instrument, GB00BYV24996
type of instrument
b) Nature of the Subscription of Ordinary Shares
transaction
------------------------------- --------------------------------
c) Price(s) and Price Volumes
volume(s) (s) (s)
145 pence 13,793
--------
------------------------------- --------------------------------
d) Aggregated information
* Aggregated volume N/A
N/A
* Price
e) Date of the 25 March 2021
transaction
f) Place of the Outside a trading venue
transaction
------------------------------- --------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Joanne Easton
------------------------------- --------------------------------
2 Reason for the notification
-----------------------------------------------------------------
a) Position/status Non-Executive Director
------------------------------- --------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------- --------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------
a) Name Medica Group PLC
------------------------------- --------------------------------
b) LEI 213800B8XE5FUSZF5Z16
------------------------------- --------------------------------
4 Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------
a) Description Ordinary shares of 0.2p
of the financial
instrument, GB00BYV24996
type of instrument
b) Nature of the Subscription of Ordinary Shares
transaction
------------------------------- --------------------------------
c) Price(s) and Price Volumes
volume(s) (s) (s)
145 pence 17,241
--------
------------------------------- --------------------------------
d) Aggregated information
* Aggregated volume N/A
N/A
* Price
e) Date of the 25 March 2021
transaction
f) Place of the Outside a trading venue
transaction
------------------------------- --------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Stuart Quin
------------------------------- --------------------------------
2 Reason for the notification
-----------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------- --------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------- --------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------
a) Name Medica Group PLC
------------------------------- --------------------------------
b) LEI 213800B8XE5FUSZF5Z16
------------------------------- --------------------------------
4 Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------
a) Description Ordinary shares of 0.2p
of the financial
instrument, GB00BYV24996
type of instrument
b) Nature of the Subscription of Ordinary Shares
transaction
------------------------------- --------------------------------
c) Price(s) and Price Volumes
volume(s) (s) (s)
145 pence 31,034
--------
------------------------------- --------------------------------
d) Aggregated information
* Aggregated volume N/A
N/A
* Price
e) Date of the 25 March 2021
transaction
f) Place of the Outside a trading venue
transaction
------------------------------- --------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Stephen Davies
------------------------------- --------------------------------
2 Reason for the notification
-----------------------------------------------------------------
a) Position/status Medical Director
------------------------------- --------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------- --------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------
a) Name Medica Group PLC
------------------------------- --------------------------------
b) LEI 213800B8XE5FUSZF5Z16
------------------------------- --------------------------------
4 Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------
a) Description Ordinary shares of 0.2p
of the financial
instrument, GB00BYV24996
type of instrument
b) Nature of the Subscription of Ordinary Shares
transaction
------------------------------- --------------------------------
c) Price(s) and Price Volumes
volume(s) (s) (s)
145 pence 241,379
--------
------------------------------- --------------------------------
d) Aggregated information
* Aggregated volume N/A
N/A
* Price
e) Date of the 25 March 2021
transaction
f) Place of the Outside a trading venue
transaction
------------------------------- --------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Richard Jones
------------------------------- --------------------------------
2 Reason for the notification
-----------------------------------------------------------------
a) Position/status Chief Financial Officer
------------------------------- --------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------- --------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------
a) Name Medica Group PLC
------------------------------- --------------------------------
b) LEI 213800B8XE5FUSZF5Z16
------------------------------- --------------------------------
4 Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------
a) Description Ordinary shares of 0.2p
of the financial
instrument, GB00BYV24996
type of instrument
b) Nature of the Subscription of Ordinary Shares
transaction
------------------------------- --------------------------------
c) Price(s) and Price Volumes
volume(s) (s) (s)
145 pence 6,896
--------
------------------------------- --------------------------------
d) Aggregated information
* Aggregated volume N/A
N/A
* Price
e) Date of the 25 March 2021
transaction
f) Place of the Outside a trading venue
transaction
------------------------------- --------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Kevin Terrins
------------------------------ --------------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Director of Business Development/PDMR
------------------------------ --------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------ --------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Medica Group PLC
------------------------------ --------------------------------------
b) LEI 213800B8XE5FUSZF5Z16
------------------------------ --------------------------------------
4 Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
----------------------------------------------------------------------
a) Description Ordinary shares of 0.2p
of the financial
instrument, GB00BYV24996
type of instrument
b) Nature of the Subscription of Ordinary Shares
transaction
------------------------------ --------------------------------------
c) Price(s) and Price Volumes
volume(s) (s) (s)
145 pence 34,482
--------
------------------------------ --------------------------------------
d) Aggregated information
* Aggregated volume N/A
N/A
* Price
e) Date of the 25 March 2021
transaction
f) Place of the Outside a trading venue
transaction
------------------------------ --------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Rob Lavis
------------------------------- --------------------------------
2 Reason for the notification
-----------------------------------------------------------------
a) Position/status Clinical Director/PDMR
------------------------------- --------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------- --------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------
a) Name Medica Group PLC
------------------------------- --------------------------------
b) LEI 213800B8XE5FUSZF5Z16
------------------------------- --------------------------------
4 Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------
a) Description Ordinary shares of 0.2p
of the financial
instrument, GB00BYV24996
type of instrument
b) Nature of the Subscription of Ordinary Shares
transaction
------------------------------- --------------------------------
c) Price(s) and Price Volumes
volume(s) (s) (s)
145 pence 689
--------
------------------------------- --------------------------------
d) Aggregated information
* Aggregated volume N/A
N/A
* Price
e) Date of the 25 March 2021
transaction
f) Place of the Outside a trading venue
transaction
------------------------------- --------------------------------
ENDS
For further information, please contact:
Medica Group PLC
Dr. Stuart Quin, Chief Executive
Officer
Richard Jones, Chief Financial
Officer +44 (0)33 33 111 222
Investec Bank plc (Joint Broker)
Sara Hale
Daniel Adams
Virginia Bull
Ben Farrow +44 (0)20 7597 5970
Liberum (Joint Broker)
Bidhi Bhoma
Richard Lindley
Euan Brown +44 (0)20 3100 2000
FTI Consulting +44 (0)20 3727 1000
Victoria Foster Mitchell medicagroupplc@fticonsulting.com
Sam Purewal
About Medica Group PLC
Medica intends to lead the way in telemedicine and is the market
leader in the UK and Ireland for the provision of teleradiology
services, providing outsourced interpretation and reporting of MRI
(magnetic resonance imaging), CT (computerised tomography),
ultrasound and plain film (x-ray) images. In addition, Medica is
the market leader for the provision of retinal diagnostic screening
in Ireland where it also provides selective managed services in
diagnostics to the public and private sectors
In the UK, Medica currently offers two primary services to
hospital radiology departments:
- NightHawk, urgent reporting service, and
- Elective which includes routine cross-sectional reporting on
MRI and CT scans, and routine plain film reporting on x-ray
images.
Medica contracts with the largest pool of consultant
radiologists in the UK and Ireland, performing remote access
teleradiology across its customer base of more than 100 NHS Trusts
in the UK, the Irish HSE, private hospital groups and diagnostic
imaging companies. This enables the Company to offer a fast,
responsive service both during the day and importantly supporting
urgent out-of-hours reporting.
Medica has developed a bespoke, secure IT platform that provides
market-leading linkage between a hospital's Radiology Information
System (RIS) and consultant radiologists who contract with the
Company. Direct RIS access ensures that where the wider patient
medical history is available, it can be reviewed by the consultant
as part of every report. For more information please visit
www.medica.co.uk
About teleradiology
Teleradiology is the remote electronic transmission of
radiological patient images, including plain film (x-rays), CT
scans and MRI scans, from one location to another for the purposes
of diagnostic interpretation and reporting.
About imaging Contract Research Organisations ("iCROs")
iCROs are experts in providing specific knowledge about medical
imaging and its application in clinical trials. This includes
expertise in imaging protocols, state-of-the-art image acquisition
and analysis, data management and quality control.
Access to this knowledge is critical as medical imaging is a
vital component of many clinical trials. It can be used to stratify
patients to the most appropriate treatments and can allow early
measurement of treatment efficacy. Standardisation of image
acquisition across sites and a focus on quality control (QC) of
images ensures that the required data can be obtained from the
images. A central read (a process by which the image interpretation
is not done by the local study site) minimises bias and
subjectivity that might otherwise arise from the sponsor or study
monitor's familiarity with patients.
The reliability and reproducibility of image data interpretation
is realised through consistent data review (using standardised
grading protocols) and the use of two readers. High quality data
means faster, more efficient trials that reach completion
sooner.
Trials are typically managed by a CRO on behalf of a
pharmaceutical or biotech sponsor and are often global.
Radiologists, known as readers, have to be specially trained to be
able to report imaging studies for clinical trials as this is
conducted under Good Clinical Practice protocols.
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END
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