WideCells Group PLC (AIM:WDC) Board Restructuring and Cost Cutting

The Group’s CEO, João Andrade, said, “I’d like to thank Alan Greenberg for his dedication to WideCells and I wish him all the best for the future.

The streamlined Board and Wideacademy are now fully focused on increasing sales at our two core divisions – CellPlan, the world’s first stem cell healthcare insurance plan; and WideCells, focused on stem cell storage and, research, in order to generate value for our shareholders.”

WideCells Group PLC, the healthcare services group focused on providing stem cell services and insurance for stem cell treatment, has undertaken further corporate restructuring and cost cutting measures to rationalise its Board and to refocus on its core operational divisions.

As part of this restructuring, Alan Greenberg has resigned from his positions as a Director of the Board and Chief Business Development Officer and Senior Vice President of Wideacademy.

In addition, the Company has closed Wideacademy’s London office and has brought the division into the Manchester head office, thereby making annualised savings of approximately £400,000 pa.

Wideacademy will continue to use its current collaborations with the education and medical sectors, and will harness Professor Peter Holland’s knowledge in stem cell education and training to bolster the Group’s stem cell storage and insurance sales.

 

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