Trinity Biotech Announces Appointment of A New CFO
July 09 2024 - 4:05PM
Trinity Biotech plc (Nasdaq: TRIB) a commercial stage biotechnology
company focused on human diagnostics and diabetes management
solutions, including wearable biosensors, today announces the
appointment of Louise Tallon as Chief Financial Officer (“CFO”).
Louise will join Trinity Biotech in August 2024. Des Fitzgerald,
who has acted as interim CFO since December 2023 will continue as
interim CFO until late July 2024.
Commenting on the appointment, John Gillard, CEO of Trinity
Biotech plc, said “We are delighted to welcome Louise, who brings
extensive experience in transformation and growth within a dynamic
environment. This skill set, combined with her extensive experience
in the life sciences product commercialisation industry, will
elevate the continued development of the organisation as we
continue to deliver on our corporate strategy of delivering our
comprehensive transformation plan and introducing our next
generation continuous glucose monitor, or CGM, to global markets.
With the CFO transition we also reiterate our financial guidance
and intend to achieve approximately $20 million of annualized
run-rate EBITDASO1 on annualized revenues of approximately $75
million by Q2 2025.”
Louise Tallon responded, “I’m excited to join the Trinity
Biotech team and look forward to contributing to its exciting
vision to become a highly profitable organisation, intent on
executing its development and launch of a next generation CGM
device.”
Louise is currently Head of Group Finance at Inizio, a leading
global commercialisation partner in pharmaceuticals. Prior to this,
she had a 16-year career with UDG Healthcare plc, where she held a
number of senior finance roles of increasing responsibility. Over
her 19-year career in the life sciences industry, as a
transformative leader, Louise has been at the forefront of adapting
and evolving finance functions in a rapidly changing business
landscape. Louise trained as an accountant in KPMG, having received
a BBS, Finance, Economics and Business in Trinity College
Dublin.
Mr. Simon Dunne, Chief Accounting Officer of Trinity Biotech,
will be leaving the Company in August 2024. His role as Chief
Accounting Officer will also be assumed by Ms. Tallon. Trinity
Biotech thanks both Des and Simon for their many contributions to
the Company and wishes them both all the best.
Forward-Looking Statements
This release includes statements that constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995 (the “Reform Act”),
including but not limited to statements related to Trinity
Biotech’s cash position, financial resources and potential for
future growth, market acceptance and penetration of new or planned
product offerings, and future recurring revenues and results of
operations. Trinity Biotech claims the protection of the
safe-harbor for forward-looking statements contained in the Reform
Act. These forward-looking statements are often characterised by
the terms “may,” “believes,” “projects,” “expects,” “anticipates,”
or words of similar import, and do not reflect historical facts.
Specific forward-looking statements contained in this release may
be affected by risks and uncertainties, including, but not limited
to, our ability to capitalize on our purchase of the assets of
Waveform, our continued listing on the Nasdaq Stock Market, our
ability to achieve profitable operations in the future, the impact
of the spread of COVID-19 and its variants, potential excess
inventory levels and inventory imbalances at the company’s
distributors, losses or system failures with respect to Trinity
Biotech’s facilities or manufacturing operations, the effect of
exchange rate fluctuations on international operations,
fluctuations in quarterly operating results, dependence on
suppliers, the market acceptance of Trinity Biotech’s products and
services, the continuing development of its products, required
government approvals, risks associated with manufacturing and
distributing its products on a commercial scale free of defects,
risks related to the introduction of new instruments manufactured
by third parties, risks associated with competing in the human
diagnostic market, risks related to the protection of Trinity
Biotech’s intellectual property or claims of infringement of
intellectual property asserted by third parties and risks related
to condition of the United States economy and other risks detailed
under “Risk Factors” in Trinity Biotech’s annual report on Form
20-F for the fiscal year ended December 31, 2023 and Trinity
Biotech’s other periodic reports filed from time to time with the
United States Securities and Exchange Commission. Forward-looking
statements speak only as of the date the statements were made.
Trinity Biotech does not undertake and specifically disclaims any
obligation to update any forward-looking statements.
About Trinity Biotech
Trinity Biotech is a commercial stage
biotechnology company focused on human diagnostics and diabetes
management solutions, including wearable biosensors. The
Company develops, acquires, manufactures and markets diagnostic
systems, including both reagents and instrumentation, for the
point-of-care and clinical laboratory segments of the diagnostic
market and has recently entered the wearable biosensor industry,
with the acquisition of the biosensor assets of Waveform
Technologies Inc. and intends to develop a range of biosensor
devices and related services, starting with a continuous glucose
monitoring product. Our products are used to detect infectious
diseases and to quantify the level of Haemoglobin A1c and other
chemistry parameters in serum, plasma and whole blood. Trinity
Biotech sells direct in the United States, Germany, France and the
U.K. and through a network of international distributors and
strategic partners in over 75 countries worldwide. For further
information, please see the Company's website:
www.trinitybiotech.com.
_____________________________
1 Earnings before interest, tax, depreciation, amortisation,
share based payments from continuing operations– also excludes
impairment charges and one-off items.
Contact: |
Trinity Biotech plc |
LifeSci Partners, LLC |
|
Des Fitzgearld |
Eric Ribner |
|
(353)-1-2769800 |
(1)-646-751-4363 |
|
|
E-mail:investorrelations@trinitybiotech.com |
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