Induction Healthcare Group PLC, a leading digital health platform driving transformation of healthcare systems worldwide, announces the following Board changes which are to take effect immediately. James Balmain is stepping down as Chief Executive Officer and a Board director and will take on a new advisory role where he will directly support the evolution and execution of Group product strategy, together with national and regional sales. Christopher Samler, currently non exec Chair, will assume the interim role of Executive Chair, providing day to day leadership of the business pending the recruitment of a new permanent CEO, the process for which has already begun.

Paul Tambeau will move into an interim Chief Operating Officer role, to support Christopher and the Board pending the recruitment of a new permanent CEO. Paul joined Induction in September 2022 after nearly five years at Doctor Care Anywhere and, earlier in his career, KPMG In light of the recently announced financial performance of the Group (Interim Results for half year to 30 Sep released on 5 Dec 2022 reported 54% growth in sales), as well as the recent NHS headwinds, the Board is focused on cash preservation and self-sustaining growth. The Board is clear on the need to tightly manage costs and execute a plan ensuring the Group is correctly sized and on target to deliver a cash breakeven position during FY24.

The Board is committed to a plan which is being executed at pace and the board changes outlined above are part of that plan.