3D MEDICAL LTD - Jenni Pilcher appointed as global CFO for Mach7 Group and CEO of Australian operations
- Adds significant experience to global senior leadership team
- Extensive international and ASX experience across the healthcare sector
- Successful track record in acquisitions, capital raisings, asset sales and re- organisations
3D Medical Limited (ASX:3DM) (3D Medical or the Company) is pleased to announce the appointment of Ms Jenni Pilcher to the dual role of Global Chief Financial Officer and Chief Executive Officer of the Company's Australian operations. Jenni's appointment is effective on 1 February 2016.
Jenni brings extensive financial leadership and ASX-listed company experience to the Company after spending the last 10 years as a senior executive in two leading Australian biotechnology companies. Most recently, Jenni was CFO and acting CEO for Alchemia, where following a strategic review and in preparation for returning capital to shareholders, she successfully executed the sale of the Company's lead asset, a company-wide re-organisation, major contract close-out negotiations, and other asset divestitures involving intellectual property.
Prior to Alchemia, Jenni spent eight years at Mesoblast as CFO and Company Secretary. As a member of Mesoblast's executive team during a period of rapid growth for the company, Jenni was a lead executive in the successful completion of four capital raises totalling more than A$230m to international investors, a major out-licensing of core IP, corporate and product acquisitions, and a contract manufacturing collaboration.
Jenni spent six years in senior finance roles with ASX 200 company Spotless Group and has extensive international experience including London Stock Exchange listed companies Medeva and FMCG giant Cadbury Schweppes, and PWC New Zealand. Jenni is a Chartered Accountant and an Associate of both the Institute of Chartered Secretaries & Administrators and the Governance Institute of Australia.
As previously advised to the market, it is intended that upon completion of the proposed merger between 3D Medical and Mach7 Technologies Pte. Ltd (Mach7), the Company will change its name to Mach7 Technologies Limited, and restructure the Board and management team to better position the new Mach7 group of companies (Group) to execute its strategy of global growth. As part of this restructure, it is expected that Mr Albert Liong, currently managing director of Mach7, will be invited to join the Board and appointed Managing Director of the Group. Mr Liong will manage the Mach7 Group's overseas operations, and will be supported by Ms Pilcher in her capacity as CEO of the Group's Australian operations, including the Company's existing 3D Medical business.
3DM's Chairman Dr Nigel Finch said "after an extensive search we are delighted to announce that Jenni has agreed to join our team at this exciting time. Her experience in managing rapid growth within the healthcare sector provides a valuable addition to our senior management team as we complete the merger with Mach7 and execute on significant international growth opportunities."
The Company has entered into an executive services agreement (Agreement) with Ms Pilcher in relation to her newly appointed role as Global Chief Financial Officer and CEO of the Company's Australian operations. A summary of the key terms of the Agreement is set out in the Appendix to this announcement.
Dr Nigel Finch, Chairman (+61 421 742 878) info@3Dmedical.com.au www.3Dmedical.com.au
Catherine Groome Caroline DeVore
Media & Capital Partners Clarity Quest Marketing
+61 400 023 669 +1 877 887 7611
catherine.groome@mcpartners.com.au caroline@clarityqst.com
At 3D Medical our aim is to aid medical professionals in the facilitation of improved clinical care, improving medical procedures, diagnostics and ultimately improving patient outcomes. 3D Medical is a medical specific 3D printing and holographic projection and data integrations provider. Our services 3D Medical Printing; EchoPixel (holographic projection technology); GestSure (in surgery image control); Mach7 (enterprise imaging solution provides healthcare organisations with the ability to archive, consolidate, access, and share medical imaging data across departments, locations and regions); and MediDATA provide medical practices the opportunity to leverage their analytical capabilities to gain an improved understanding of the characteristics of the patients which drive their business. These new and innovative products leverage data already captured by conventional imaging modalities and apply it in more meaningful ways to deliver improved economic and patient outcomes. On 27 January 2016, 3D Medical announced that it had entered into a binding Share Sale Agreement with Mach7 Technologies. Subject to shareholder approval, and upon successful completion of the merger, 3D Medical will change its name to Mach7 Technologies.
Mach7 Technologies is a global provider of enterprise image management systems that allow healthcare enterprises to easily identify, connect, and share diagnostic image and patient care intelligence where and when needed. Mach7's award-winning platform delivers image management including rapid record identification, integration, synchronization and routing, advanced clinical viewing, and optimized vendor neutral archiving. Mach7 has locations in the U.S., Asia, Australia, and the Middle East. For more information, visit www.mach7t.com
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Duration of the agreement
The appointment of Ms Pilcher to the role of Global Chief Financial Officer and CEO of the Company's Australian operations is effective from 1 February 2016. The term of her employment will continue until terminated in accordance with the Agreement.
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Remuneration
Fixed remuneration - Ms Pilcher's base remuneration is $300,000 per annum (Base Salary), plus statutory superannuation contributions at 9.5% per annum.
Short term incentives - Ms Pilcher is eligible to receive a short term incentive from the Company (STI), which will be structured as a cash payment subject to achievement of relevant financial and non-financial performance measures, assessed after the end of each financial year on the basis of the Company's audited annual accounts. Ms Pilcher's maximum entitlement to receive a STI for each financial year is 50% of her Base Salary (which will be apportioned pro-rata for any period which is less than one year).
Long term incentives - Ms Pilcher will be invited to participate in the Company's long term incentive plan (LTIP) to be established by the Board, under which she will be entitled to receive performance rights to acquire ordinary shares in the Company (Performance Rights). The vesting of the Performance Rights will be subject to certain performance hurdles, including prescribed revenue targets and continuous employment.
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Termination of employment
Ms Pilcher's employment may be terminated at any time by the Company giving her 3 months' written notice of termination (or payment in lieu of such notice). The Company may terminate Ms Pilcher's employment immediately in certain circumstances including serious misconduct and material breach of the Agreement. The Company may also terminate Ms Pilcher's employment if she is incapacitated for an extended period.
Ms Pilcher may terminate her employment at any time by giving the Company 3 months' written notice of termination.
- Non-competition and non-solicitation
Ms Pilcher must not, during her employment, except with the written consent of the Company, engage in (directly or indirectly) any undertaking or business of a similar nature to, or in competition with, the business of the Company. In addition, certain restraints apply to Ms Pilcher after termination of her employment with the Company for any reason, including that for a period of 12 months post termination, Ms Pilcher may not be involved in any business activities in Australia which are in competition with the Company's activities.
3D Medical Limited issued this content on 29 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 January 2016 22:57:38 UTC
Original Document: http://3dmedical.com.au/wp-content/uploads/2016/01/Jenni-announcement-final.pdf
