Fast-growing Welsh听HealthTech firm Bond Digital Health has appointed听a new听chair ahead of a听Series A funding round and potential public listing.听
Bond鈥檚 connectivity and data platform, Transform, collects and stores听data from lateral flow diagnostic tests 鈥� the same type of rapid tests that are being widely used in the COVID-19 pandemic.听
A version of Transform is currently in-market, digitising and powering a Canadian client鈥檚 COVID-19 rapid antigen test.听
Wayne Harvey is a former听senior听managing听partner for Deloitte in Wales and is currently the听chair of Cardiff Airport. He will join Bond as non-executive director and听chair on March 1st.听
An economics graduate and听chartered听accountant, Harvey has more听than 35 years鈥� experience in business and finance including 12 years with Ernst & Young and 14 years with Deloitte. Until last month he was听chair of CBI Wales.听
During听that听time听he has advised dozens of businesses, guiding them through exits, IPOs and trade sale transactions, including providing substantial technical and regulatory input along with guidance on governance, advisor liaison and shareholder communication.听
Cardiff-based Bond Digital Health, which develops digital connectivity听and data platforms for rapid diagnostic tests, recently completed a 拢1.2m equity funding raise to help grow the business and expand into new markets.听
Harvey said: 鈥淏ond听is a very exciting opportunity and something to which I can certainly add value. It鈥檚 a great business with huge potential.听
鈥淔or me the most interesting aspect of the business听and its products听is听the wedding of science and technology that gives the ability to communicate a broad range of test results in a fast, effective and secure way between health professionals and the end user.听
鈥淭hat鈥檚 a very important feature, it鈥檚 what we need听particularly now in the pandemic but also longer term, and Bond鈥檚 technology can play a key role.听
鈥淭he opportunities for Bond and its technology are听potentially endless.听
鈥淭he biggest challenge will be picking the right听partners and making the best decisions for the next 2-4 years. I will act as a sounding board and guide through some of those decisions as they are being thought through.鈥�听
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Harvey said he would draw on his experience of working on a wide range of transactions as both a partner and adviser to make sure Bond was well positioned and had the right governance, reporting and business structures in place to achieve its goals.听
Bond Digital Health CEO Ian Bond said: 鈥淲e鈥檙e听delighted to welcome Wayne to the team. He is a highly regarded and experienced businessman whose advice and leadership as well as his exceptional deal making skills will be of enormous benefit to our business and will enhance our status in the financial and听commercial marketplaces.听
鈥淎fter an incredibly successful few years in which听the business has grown rapidly, we are now听planning for the future, including a series A funding round and potentially an initial public offering.听
鈥淎s听chair, Wayne will bring not only his experience听but also an additional layer of commercial and corporate credibility to the table in these negotiations.听
鈥淏eyond that, his role will be essential as we continue听to grow the business, develop products and access new markets.鈥�听
In 2020 the business received total equity funding of 拢1.9m听from Wealth Club, the high-net-worth investment service, and the Development Bank of Wales as well as more than 拢200,000 in grants from the Welsh and UK governments.听