May 31, 2010
Australian medical device company, Signostics Ltd, has appointed prominent global businessman Raymond Spencer as the company’s new Chairman.
Mr Spencer, a founder of worldwide information technology firm Kanbay International, will chair the Signostics Board and assume a key role in commercialising the company’s new Signos palm-sized ultrasound device.
With more than 35 years of leadership experience growing grassroots organisations through to large multi-national companies, Mr Spencer is the current Chairman of Capgemini’s Financial Services Global Business Unit in the United States, a Director of science solutions company Rubicon Technology, a director of the Information Technology Association of America, and Chairman of the South Australian Health and Medical Research Institute.
Born in Adelaide, Mr Spencer has spent the majority of his professional career working abroad.
He rose to prominence in 1989 as a founder, Chairman and Chief Executive Officer of US-based IT firm Kanbay, which he grew from its inception to a global corporation with 8,000 employees operating in 14 cities across eight countries.
He managed Kanbay’s transition to a NASDAQ listed company in 2004, and under his direction the company was recognised in 2006 as the fastest growing publicly-traded technology company on the Forbes Fast Tech 25 List – the same year the firm was acquired by Capgemini for $US1.25 billion.
Prior to establishing Kanbay, Mr Spencer served 20 years with the Institute of Cultural Affairs – a United Nations-recognised voluntary organisation focused on worldwide rural and community development.
Signostics Chief Operating Officer Stewart Bartlett said Mr Spencer’s appointment as Chairman will provide the impetus and strategic direction the company needs to grow into key target segments.
“Mr Spencer brings with him a wealth of international business experience in both developed and developing countries, which will help us to further advance our products and build our brand and distribution channels in Australia and overseas,” said Mr Bartlett.
“His extensive corporate skills and proven talent developing emerging global companies will help Signostics capture a greater slice of the worldwide personal ultrasound market, which we estimate is worth around US$3 billion.”
Des Masters has served as interim Chairman while the search for a suitable candidate has been undertaken. He will remain on the Board of Directors.
Mr Masters said Mr Spencer “has all the qualities we have been looking for in a Chairman candidate, having grown a technology company from creation through to a billion dollar enterprise, having extensive international business experience and connections in the medical and finance industries”.
“The Signostics Board is looking forward to welcoming Raymond as Chairman,” he said.
The Signos is the smallest and most affordable handheld ultrasound device in the world and has been designed by Signostics for convenient point-of-care use by medical practitioners globally. It represents a modern alternative to the traditional stethoscope, enhancing the physical examination and enabling clinicians to see where they could only hear or touch previously.
Signostics was established in Adelaide in 2005 with a vision to be the world leader in fast and affordable point-of-care medical devices. After opening its sales and marketing office in Palo Alto, California, the company launched its first product into the veterinarian market last year before gaining regulatory approvals to enter the human medical device market in Australia, the United States and Europe.
For more information visit www.signosticsmedical.com
Further Information:
Stewart Bartlett, Signostics Chief Operating Officer, on 08 8152 9400 or 0403 951 272
Issued By Hughes Public Relations:
Kieran Hall on 0422 147 151 or kieran@hughespr.com.au
