The CEO of Inspiration Healthcare Group plc is to step down this week.
The global technology company, which pioneers neonatal intensive care medical devices, said Neil Campbell will leave the role on Wednesday (30th May) and become a non-executive director.
He will formally leave full-time employment with the company at the end of June and become a consultant to the business as a ‘global advocate’, supporting key relationships and business development opportunities.
Campbell, one of the original founders of the company, has been with the group for over 20 years and was appointed as CEO in 2015.
At the request of the board, Roy Davis, non-executive chair, is to become executive chairman and interim CEO while it considers options for a new permanent CEO.
Inspiration Healthcare has a market cap of £11.2m. Its share price has fallen from 45p a year ago to around 16p today.
“I am pleased to be able to transition from an executive to a non-executive role with Inspiration Healthcare,” said Campbell. “While the business has experienced some challenges in recent times, I am incredibly proud of what we have achieved from start-up 20 years ago to where it is today.
“I look forward to being able to continue to contribute to the business as a non-executive director.”
Davis has held leadership positions at a number of publicly quoted MedTech companies, including non-executive chair at Medica Group plc, a leading UK tele-radiology company until its acquisition by IK partners for £269m this year.
He was also CEO of Optos plc, a leading retinal imaging device manufacturer from 2008 to 2016 until its sale to Nikon for $400m in 2015; and CEO of Gyrus Group plc, a leader in minimally invasive surgery and visualisation, until its acquisition by Olympus Corporation in 2008 for $1.9 billion.
“Neil has played an important role over the last 20 years in founding the business, as a dedicated member of the Inspiration team and as board member,” said Davis.
“I would like to thank Neil for his tireless commitment to the business and look forward to his continued involvement as a non-executive director and advisor… I look forward to working with the team to help Inspiration Healthcare on the next stage of its journey and to achieving its full potential.”