Shareholder grows stake in MedTech business
Harwood Capital has increased is shareholding in Leeds-based medtech company Tissue Regenix and is now the second largest shareholder in the business.
The investment management group which is led by Christopher Mills has since the 27 September been growing its stake in the business which recorded a 12% rise in its revenues in its interim results for the six months to 30 June 2021.
Daniel Lee
The latest deal saw the group acquire an additional 4% in the business for circa £1.8m from IP Group, and saw it move into the top two shareholder with a total interest of 11.28% just behind historic Swiss banking group Lombard Odier which has 14.09%.
Following the announcement on Friday morning, Tissue Regenix’s share price rose by 4% to 0.65 pence per share (as of 08.23).
In its latest interim results for the six months to 30 June 2021, the group’s chief executive, Daniel Lee said the business was making good operational and commercial progress and that he looked forward to building on this progress in the second half of the year.
Lee added: “We are committed to creating long-term, sustainable value for shareholders and I am greatly encouraged by this promising set of results.”
In its outlook, it said was encouraged by the the progress made on the expansion of the Group’s product portfolio, which is expected to deliver further growth and revenue opportunities in future periods.
