Stefan Tell leaves his position as CEO of SyntheticMR

SyntheticMR's CEO Stefan Tell will leave the company. He will however remain as CEO until June 30th, 2019 at the latest. Stefan has been CEO of SyntheticMR since 2011.

"It has been an exciting and challenging journey to take SyntheticMR from a start-up with an innovative technology to a globally established company that today delivers clinically approved products to an international market. I have had seven good years as CEO of SyntheticMR and it feels as a good timing to hand over to someone else, "says Stefan Tell.

Under the direction of Stefan Tell, the company has signed agreements with the three largest manufacturers of MRI systems, GE, Siemens and Philips. During Tells first year as CEO, in 2012, the company had a turnover of 0,6 MSEK and a loss of approximately 4 MSEK. In the last quarterly report, the company presented a turnover of 42.6 MSEK and an EBIT of 15.5 MSEK for the past 12 months. The company also shows strong cash conversion.

“Stefan Tell was recruited to commercialize the company's products internationally. Today we have a strong position with cooperation agreements with the three leading players in the MRI market. Stefan Tell has in his role as CEO of SyntheticMR been crucial for building SyntheticMR into the global medical technology company it is today. The company faces the next phase of development. It is natural that a new CEO continues building local presence on the global MRI market " says Staffan Persson, chairman of the board.

For more information please contact Stefan Tell, CEO SyntheticMR AB, +46 73 373 40 90 or Staffan Persson, Chairman of the board SyntheticMR AB, +46 70 321 00 98

This information is information that SyntheticMR AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on November 15, 2018.