LONDON, October 28, 2015 /PRNewswire/ --
Thorn Medical PLC, the international healthcare group, has today signed a Memorandum of Understanding (MoU) with EY to work on a number of innovative and bold new opportunities in international healthcare. As part of this deal, EY will take on the role as global strategic adviser to Thorn.
The MoU includes the option for joint ventures with EY to develop a new approach to health insurance and to build and manage new medical infrastructure programmes across Africa, the Middle East, Asia, and the Bahamas.
EY will also support Thorn Medical in delivering contracts to manufacture and distribute generic drugs - drugs which are no longer covered by a patent - across Africa, the Middle East and Asia, with an initial focus on Algeria. In addition, the professional services firm will support Thorn Medical's IPO on the London Stock Exchange and its planned USA Nasdaq listing; help support the development of Thorn Medical's stem cell technology licence and to leverage this value in new areas and markets; and to assist Thorn Medical in finding new acquisition targets.
Jack Kaye, Thorn Medical's Chairman and Chief Executive, comments: "Our company is an expert investor and acceleration partner dedicated to breaking down the barriers to providing more efficient and effective healthcare worldwide. EY will help us to expand even more rapidly and to establish the value in international markets for our innovative technology and services."
Gary Howe, EY Partner and UK & Ireland Health Leader, added, "With changing global demographics, and an expanding and ageing population, we believe health care solutions will be a key area for global growth. The generic drugs market is growing by 11.5% per annum and, according to recent research, is expected to be worth $518.5 billion by 2018. We are excited to be supporting Thorn Medical as they continue to explore new markets and opportunities for their future growth."
Note to Editors
 BCC Research, July 2014, Report Code: BIO035E - http://www.bccresearch.com/market-research/pharmaceuticals/generic-drugs-markets-phm009g.html
Thorn Medical PLC
Thorn Medical understands how to create value for investors, service providers and patients through building a balanced portfolio of pre-and post-revenue companies that specialise in commercialising innovative and medical technologies and services.
Thorn Medical will continue to grow both organically and through acquisitions, continually developing the enterprise and fully addressing the human health cycle and its genetic, environmental, physical and nutritional influencing factors.
Thorn Medical focuses on four areas
- Disease prevention
- Immunity optimisation
- Disease treatment
- Research & development
For further information, please visit Thorn Medical's website http://www.thornmedical.com
Ernst & Young LLP
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organisation and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organisation, please visit ey.com.
Thorn Medical PLC
EY Media Relations
SOURCE Thorn Medical PLC