RUA Life Sciences – RUA – Directorate Changes

RUA Life Sciences – RUA – Directorate Changes

RUA Life Sciences, the holding company of a group of medical device businesses focused on the exploitation of the world's leading long-term implantable biostable polymer (Elast-EonTM), is pleased to announce the appointments, with immediate effect, to the Board of Dr Caroline Stretton, Group Chief Operating Officer of the Company, and Ian Ardill as a Non-Executive Director and Chair of the Audit Committee.


Dr Caroline Stretton who was appointed as Group Chief Operating Officer on 1 April 2020, following the Company's acquisition of RUA Medical Devices Limited ("RUA Medical"), joined RUA Medical in 2018 from prosthetic hand manufacturer, Touch Bionics Limited, where, prior to its sale in 2016 to Icelandic orthotic and prosthetic manufacturer Ossur, she was a key member of the leadership team responsible for Global Manufacturing, Operations, Quality and Customer Support. Previously, Caroline had been employed by a number of medical device and pharmaceutical companies in a variety of roles, most notably Ivax Pharmaceuticals (now Teva Pharmaceuticals), Ocutec Limited and Mpathy Medical Devices Limited, a surgical medical device company which achieved a multi-million pound exit to Danish surgical medical device manufacturer, Coloplast, in 2010. Caroline is a graduate of, and holds a PhD in, Pure and Applied Chemistry from, the University of Strathclyde.


Ian Ardill has over 25 years' experience in senior financial positions, with the majority of that time being spent in medical devices and pharmaceuticals.  He is currently Managing Director of Causeway Finance Associates Limited, a CFO and accountancy consultancy focussed in Life Sciences, which he founded in 2017.  Previously, he was Chief Financial Officer of Diurnal Limited, which he joined in April 2015 ahead of the company's successful IPO on AIM in December 2015.  Prior to that, Ian was Chief Financial Officer of two other listed companies. With Lombard Medical Technologies plc, from 2012 to 2015, he led the company financially through the late stages of FDA pre-market approval and the commencement of US commercial operations.  On the financing front, he managed a £22 million fundraising on AIM and the company's IPO on NASDAQ raising $55 million.  With Biocompatibles International plc, from 2003 to 2011, he played a leading role in transforming the company from a loss-making to a profitable enterprise with sales of £33 million.  He also managed the company's sale to BTG Plc in 2011 for £177 million and two returns of capital to shareholders totalling £23 million.  Ian is a graduate of Warwick University and qualified as a chartered accountant with Grant Thornton.


Bill Brown, Chairman of the Company, commented: "I am very pleased to welcome Caroline and Ian to the RUA Life Sciences Board. They bring with them significant and diverse experience and will be valuable additions to the Board."

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