Listed Salter Point-based healthcare equipment company Medec has appointed former Huntleigh Healthcare regional director Dermot Patterson as its new chief executive.
Listed Salter Point-based healthcare equipment company Medec has appointed former Huntleigh Healthcare regional director Dermot Patterson as its new chief executive.
Medec founder, former chief executive and now executive director, Josef Plattner, said Mr Patterson was the ideal candidate to head the company’s growth in the new international markets.
Mr Patterson told WA Business News he thought the role would be exciting.
“Some of the challenges before me are strategic development of products and getting them to market, exporting, increasing acquisition opportunities and building a strong corporate team,” he said.
“And I am looking forward to tailoring Medec’s global strategy and building on its early achievements and interest from key potential alliances to establish the company as a leading international provider of health care products.”
Before leaving the UK to come to Perth 10 years ago, Mr Patterson had completed a medical diploma from the British Institute of Surgical Technologists, and joined British publicly listed medical equipment company Huntleigh Healthcare.
“I’ve been involved in healthcare because I’m touched by how the industry and its products can make a difference, and I’ve seen this first-hand,” he said.
Mr Patterson worked for Huntleigh Healthcare for 20 years. At the beginning of his career he was responsible for business in the UK, then continental Europe and later North and South America.
During his last 10 years with Huntleigh he was responsible for the company’s commercial activities within the Asia Pacific region, including strategic planning and development, new market expansion, sales and marketing.
Medec’s combination of Eastern and Western medicine is what Mr Patterson believes will allow the company to increase its export markets and global expansion.
“For example, one target market is Germany because it is very advanced in the uptake of other traditional medicines and using a holistic approach,” he said.
“Others are the UK, China and the US.”
Outside of Medec, Mr Patterson has completed an MBA from UWA, a “superb experience” that has created “invaluable benefits”.
Medec’s core business is the development and sale of electronic products and systems for use in healthcare and energy medicine.
The company was established in 2001 and has grown each year by between 50 and 200 per cent. It listed on the ASX in 2002.
Now chaired by Gordon Getley, Medec made a net loss attributable to members of $778,060 in the 12 months ending June 30, 2004.
The six months to December 31 recorded a loss of $691,667, though the company reported it was cash flow positive in the December quarter and the company forecast an improvement in its second half results.
