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Collagen hires new chief business officer

Medical device expert Jamal Rushdy will take on the role from today

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Collagen develops medical-grade collagen components

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Collagen Solutions (LON:COS) has appointed a medical device specialist as its new chief business officer.

Jamal Rushdy will take on the role from today, replacing Geoff Bennett, who will remain as an executive director.

Collagen, which develops medical-grade collagen components, said Rushdy has a track record of building and transforming businesses, and will bring sector experience and creativity to the firm.

He has previously worked for two mid-size high growth public companies and three successful start-ups, and was most recently at Tornier, a US biologics company.

Stewart White, chief executive, said: “We are at a key point in our growth where increased business development is critical and Jamal is well positioned to drive this forward.

Former chief business officer, Geoff Bennett, will remain on Collagen’s board as an executive director and continue as managing director and chief executive of its subsidiary Southern Lights Biomaterials, in New Zealand.

He will also head up the company’s business development efforts in Asia, White said.

Reating his 'buy' advice, Panmure Gordon analyst Dr Mike Mitchell applauded the appointment, saying it "reflected management’s recognition of the importance of increased business development".

He added: "Today’s news also shows that the company is able to attract high-quality, experienced individuals in an expanding global industry."

The Panmure analyst reckons the stock is worth 18p a share, which is more than double the current price.

 

Quick facts: Collagen Solutions PLC

Price: 6.625 GBX

LSE:COS
Market: LSE
Market Cap: £30.99 m
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Collagen Solutions PLC (LON:COS) CEO Jamal Rushdy tells Proactive Investors the firm expects full-year revenue to beat market forecasts, driven by deals to develop collagen products on behalf of third parties. Rushdy also says the company is 'anxiously waiting' a CE Mark approval for its...

on 04/11/2019

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