Artrya co-founder steps down

Medical technology company Artrya Limited has appointed experienced executive Mathew Regan as the company’s new leader after its co-founder John Barrington resigned.

The West-Perth based company, founded by Mr Barrington and John Konstantopoulos, has developed technology that improves the diagnosis of coronary heart disease.

In a statement on the ASX, Artrya said the board and Mr Barrington agreed the company would benefit from a “fresh leadership approach to ensure Artrya’s ongoing success”.

Mr Barrington said he felt the time had arrived to step aside as chief executive.

“I’d like to pay tribute to the talented team we have built here in Perth and Melbourne as well as our people in the US and the UK,” he said.

“It has been an absolute privilege to work with some of the most talented and committed people I’ve ever met and I’m proud of the cutting-edge technology we’ve produced out of Western Australia.

“I have also had some recent health issues, so I intend to spend some time in the immediate future focused on that.”

Mr Barrington’s successor Mathew Regan is an experienced executive across multi-disciplinary fields.

He has previously held senior roles at Quintis Sandalwood and Imdex and had a brief stint at Water Corporation earlier this year.

Most notably, he spent 18 years with CBH Group where he held the roles of grain quality manager and corporate services general manager.

Artya chair Bernie Ridgeway said he was confident Mr Regan was qualified to lead the company in the next phase of growth.

“Mathew is a talented executive who understands how to lead transformation and growth in businesses,” he said.

“He has an impressive track record of delivering outstanding results.”

Mr Ridgeway also thanked Mr Barrington for his guidance.

“John should be proud of the company he co-founded and built from scratch,” he said.

“Without his vision, talent and drive we would not have Artrya or the point-of-care product that has been developed.”

Mr Barrington will remain a significant shareholder in Artrya, according to the company.

At market close, Artrya shares were up 16.7 per cent to trade at 28 cents.