MEDIGARD CEO RESIGNS AFTER FALLOUT

Written on the 24 February 2011

MEDIGARD CEO RESIGNS AFTER FALLOUT

THE chief executive of the ASX-listed medical technology company Medigard (ASX:MGZ) has resigned from the board after seven years with the company.

Peter Emery (pictured) told Gold Coast Business News he has given three months notice following ‘differences with certain board members’.

“The decision to resign is mine and it has not been an easy one. There have been some differences of opinion between myself and other members of the board. I wish the company well.”

While Medigard shares have largely traded sideways on the ASX since 2005, there have also been delays associated with signing a manufacturer and a distributor in the US for its 3ml retractable syringe.

Emery has recently spent time in the US courting potential investors, but says it’s time to try something different and take a ‘long holiday’.

He told Gold Coast Business News last year that Medigard could become a life changer.

“It’s always a good story because the ultimate aim of this is to help health care workers from getting needle stick injuries and this will stop that and there’s a million of them around the world, half of which go unreported. The good side this is that it’s for the benefit of real people, doing real work and they shouldn’t be exposed to some of the risks they are currently exposed to.”

Medigard was floated in 2004 by chairman Don Channer and director Peter Clark.

MGZ shares closed today at 4c.

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