Abano appoints Richard Keys as chief executive

Monday 15th June 2015

Abano Healthcare Group appointed Richard Keys to take over as head of the specialist medical investment firm, when Alan Clarke leaves later in the year.

Keys, who is currently the chief financial and operating officer and has been with the company for 13 years, will take over following Clarke's retirement at the annual meeting later this year, the Auckland based company said in a statement. Clarke has led the medical investment firm since 2000 and flagged his retirement at the 2014 annual meeting last November.

“Richard Keys has been with Abano for 13 years and has played a vital role in Abano’s evolution as an international scalable healthcare business that is focused on growth and is primarily funded by private revenue," chairman Trevor Janes said. "He has worked closely with Alan Clarke to jointly develop our current strategy, and led the implementation of Abano’s acquisition and divestment programme."

In April, the medical investment firm said it expects to report a small full-year loss after it agreed to sell its stake in Aotea Pathology and following the sale of its orthotics unit in January, which resulted in impairments on both businesses. The net loss is expected to be $1.3 million to $1.9 million in the year ended May 31.

Abano shares fell 0.7 percent to $7.35 and have declined 4.5 percent since the start of the year.

BusinessDesk.co.nz

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