Mediland Pharm attracts valuable names to board, share register
Health & Biotech
Health & Biotech
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Mediland Pharm has attracted experienced names to both the board and the share register.
Special Report: Chinese-tourist focused retailer Mediland Pharm has attracted some interesting names to its board and shareholder register, bringing in an experienced biotech executive as chair and a valuable new investor.
Mediland Pharm is a 16-year-old Australian company that is servicing the growing demand of Chinese tourists for premium Australian products. China has rapidly become Australia’s largest source of tourists and they are among the biggest spenders. Mediland has demonstrated its ability to compete in this space with a history of strong sales revenues.
The potential of this market is so promising that one of Mediland Pharm’s suppliers has decided they want to own a slice of the company, offering to become a key investor in the upcoming $15m IPO.
Sydney-based KD Health distributes products designed specifically for the Chinese market, from the always-popular infant formula to skin care and health foods.
Founder Frank Lin says they’ve built a relationship with Mediland Pharm over several years.
“Mediland Pharm is an Australian-based company servicing the Chinese tourist market. Since we have strong links with the overseas Chinese market, I see potential in investing in a company which is tapping into it here,” Mr Lin told Stockhead.
“KD Health has a long-term interest in growing the Australian market for Chinese tourists and in seeing one of our local customers grow, I believe Mediland Pharm is a strong way we can invest in that theme.”
The Mediland Pharm IPO offer opened on December 3 and the company anticipates listing on January 25.
Mediland Pharm is not just attracting beneficial sponsors; it has brought some solid names into the boardroom, too.
Dr Peter French has been tapped to chair the company, specifically for his biotech and public company experience.
“We’re looking to launch our own cosmetics and wellness range, so Peter’s cell biology and healthcare background was a big plus for us,” says managing director Yesh Mudaliar.
He was the boss at gene therapy company Benitec Biopharma (ASX:BLT) and Probiomics, and is currently CEO of Sevident, a US biotech specialising in cellular and molecular capture for cancer diagnostics.
Mediland Pharm has also snared Theo Renard as a proposed non-executive director, bringing over 10 years previous experience. Small cap investors will know Renard as an executive at Realm Resources (ASX:RRP) and Atrum Coal (ASX:ATU).
In addition, to support Mediland Pharm’s strong belief that people are the key to any successful organisation, Tracey Cray, a seasoned employee relations and human resource specialist, joins as a complementing asset to the board.