REG - Trellus Health PLC - Directorate Changes

Trellus HealthAnnouncement

07/06/2024 07:00

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RNS Number : 4992R  Trellus Health PLC  07 June 2024

 

Trellus Health plc

("Trellus Health" or the "Company")

 

Directorate Changes

 

LONDON, UK. AND NEW YORK, U.S. (7 June 2024). Trellus Health plc (AIM: TRLS),
a health services company delivering innovative, scientifically validated
programs and technologies designed to facilitate the management of chronic
conditions, improve health outcomes and lower the costs of care, announces the
appointment of Kevin L. Murphy Jr. as an independent Non-executive Director,
effective immediately, and as Chair Designate. It is intended that Kevin will
replace Dr. Daniel Mahony as Chair, on the conclusion of the board meeting to
be held immediately after the Company's forthcoming annual general meeting on
14 June 2024. This is consistent with the previously announced, planned
evolution of the Board to include a new director with experience of the US
healthcare industry, and follows Dr. Mahony's acceptance of a new role as
Senior Partner at Novo Holdings which requires him to relinquish his
pre-existing Board roles.

 

Kevin Murphy is an experienced healthcare executive, having worked as a
P&L leader for both large and small organisations in the healthcare,
insurance and pharmacy industries. Kevin's expertise includes strategy
development and execution, clinical programme delivery, driving revenue and
margin expansion, acquisitions, integrations, joint ventures, and new product
and market /commercial development.

 

Kevin recently retired from CVS Health Corporation ("CVS Health"), a Fortune
500 healthcare company providing advanced health care from pharmacy services
and health plans, to health and wellness.  At CVS Health, he spent over ten
years in various roles. Kevin joined CVS Health as President of Accordant,
which delivers personalised healthcare advice to members and their caregivers
through the support of nurse teams and support staff, while reducing overall
health care costs. There, he led a significant turnaround which included
reorganising the clinical care delivery model, upgrading Accordant's core
operating systems and opening new markets and distribution channels, resulting
in an increase in revenues and EBIT. Subsequently, Kevin spent five years as
Group Head Specialty and Infusion at CVS Health, which included negotiating
and acting as business lead for the $2.1B acquisition of Coram; in 2019, Kevin
was appointed Senior Vice President, Payer Relations and Managed Care.

 

Prior to joining CVS Health, Kevin held P&L leadership roles at Medco, the
largest pharmacy benefits management company in the US, and Physicians Health
Services, a regional health insurance group.

 

Kevin graduated with a B.S. in Management from University of Rhode Island and
an M.S. in Finance from Fairfield University.

 

Dr. Marla Dubinsky, CEO and Co-Founder of Trellus Health, said: "I am
delighted to welcome Kevin to the Board of Trellus Health. We have been
looking to appoint a director with experience in the US healthcare industry,
and Kevin's expertise in strategy and care delivery within this space, will be
hugely valuable to us as we continue to progress the commercialisation of
Trellus Elevate™. On behalf of the Company, I would like to thank Dan for
his valuable contributions, particularly in his role as Chair, and wish him
all the best in his new role."

 

Kevin Murphy, newly appointed Non-executive Director and Chair Designate of
Trellus Health, said: "Trellus Health's innovative approach to US healthcare
aligns well with my experience, and I believe the Trellus Elevate™ program
can improve outcomes for those living with chronic conditions while lowering
the cost of care. I look forward to working with the team to help the Company
roll out Trellus Elevate™ to as many people as possible."

 

Dr. Daniel Mahony, Non-executive Chair of Trellus Health, said: "I have
enjoyed working as part of the Trellus Health Board, as the Company progressed
and secured its first commercial-scale B2B2C contract and continues to
progress other opportunities. Having been part of the team to recruit Kevin, I
am confident that he will be an excellent Chair for the Company, and that his
extensive US healthcare experience will prove invaluable."

 

 

 

Regulatory Disclosures

 

Kevin Laurence Murphy Jr. (aged 64) is currently or has been a director of the
following companies within the previous five years:

 

 Current directorships/partnerships                            Past directorships/partnerships
 ·    Blue Cross & Blue Shield of Rhode Island                 N/A

 ·    The American Lung Association of the NorthEast Inc

 ·      KLM Healthcare LLC

The Company confirms that Kevin Murphy is eligible to participate in the US
sub-plan of its Share Option Plan and will be granted options in relation to
his service with the Company, in line with the Company's remuneration practise
in due course.

 

Save as disclosed above, there is no further information to be disclosed in
respect of the appointment, pursuant to Rule 17 and Schedule 2 paragraph (g)
of the AIM Rules for Companies.

 

For further information please contact:

 

 Trellus Health plc                                                          https://trellushealth.com/ (https://trellushealth.com/)
 Dr. Marla Dubinsky, CEO and Co-Founder                                      Via Walbrook PR
 Joy Bessenger, CFO

 Singer Capital Markets (Nominated Adviser and Broker)                       Tel: +44 (0)20 7496 3000
 Aubrey Powell / Jen Boorer / Jalini Kalaravy

 Walbrook PR                                  Tel: +44 (0)20 7933 8780 or trellus@walbrookpr.com
                                              (mailto:trellus@walbrookpr.com)
 Paul McManus / Sam Allen / Phillip Marriage  Mob: +44 (0)7980 541 893 / 07748 651 727 / 07867 984 082

 

 This announcement contains inside information for the purposes of the
retained UK version of the EU Market Abuse Regulation (EU) 596/2014 ("UK
MAR").

 

About Trellus Health plc (www.trellushealth.com (http://www.trellushealth.com)
)

Trellus Health (AIM: TRLS) is a health services company providing value-based
innovative solutions and services for chronic condition management that
prioritises improved outcomes and member experiences while managing costs of
care.

 

Trellus Health integrates its proprietary resilience-based methodology with
the technology, tools, and expert coaching and educator team to deliver
Trellus Elevate™, a whole-person technology-enhanced experience that meets
each individual's unique needs and empowers them to master their physical and
emotional health. Trellus Elevate's™ clinically proven solutions result in
relieving disease burden, building self-management skills and promoting
positive health behaviours that improve outcomes and enables thriving in the
face of a chronic condition.

 

The Company's proven whole person approach recognises the interconnectedness
of various aspects of a person's life and aims to address the whole spectrum
of factors that influence behaviour, to promote comprehensive well-being and
human flourishing in a way that aligns with value-based care. Trellus Health's
approach enables better health outcomes in a member-centric, personalised and
comprehensive holistic solution.

 

The Company was founded by Mount Sinai faculty members Marla C. Dubinsky, MD
and Laurie Keefer, PhD, both experts at treating and healing both the physical
and emotional impacts of IBD and have been innovators for whole-person
healthcare for a combined 50 years.

 

The Company is initially focusing on chronic costly GI conditions that have
high mental health burden, such as inflammatory bowel disease ("IBD") which
includes the chronic incurable conditions of Crohn's Disease and ulcerative
colitis. Given the common emotional and mental health struggles often
experienced by individuals suffering from a variety of chronic conditions,
Trellus Health considers its approach to have potential utility and demand
across many conditions.

 

The Trellus Elevate™ program incorporates the GRITT™ methodology and
learnings on resilience from clinical research and practice conducted at the
Mount Sinai IBD Center for more than seven years. This proprietary,
resilience-driven methodology has been scientifically validated to demonstrate
meaningful improvements in patient outcomes, 71% reduction in Emergency
Department (A&E) visits, and 94% reduction in unplanned hospitalisations,
which the directors of the Company believe indicates the potential for
significant cost savings for healthcare payers and health systems. Patients
with IBD managed with the proprietary resilience methodology also experienced
a 49% reduction in required opioid use and a 73% reduction in corticosteroid
use 12 months following starting the program which is a major indicator of
improved health outcomes(1.)

 

Shares in Trellus Health were admitted to trading on AIM in May 2021, under
the ticker TRLS. For more information on Trellus Health, visit:
www.trellushealth.com (http://www.trellushealth.com)

 

(1) Source:
https://www.sciencedirect.com/science/article/pii/S1542356521012258
(https://www.sciencedirect.com/science/article/pii/S1542356521012258)

 

 

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