Singular Health boss Thomas Hanly has resigned and the company's co-founder has been appointed to the role and will undertake a strategic review.
Singular Health has announced the resignation of Thomas Hanly as chief executive and has appointed its co-founder on an interim basis, who will “immediately undertake a strategic review” of the company.
In a statement on the ASX, the Subiaco-based medtech company announced that Mr Hanly had tendered his resignation, effective April 14.
Founded in 2017, the virtual reality focused company develops technology to allow medical professional to observe interactive 3D models of the human body.
Singular Health’s co-founder and non-executive director, Denning Chong, has been appointed as interim chief executive until a new chief executive is appointed.
The interim chief executive will commence a strategic review of the company’s activities, according to Singular Health.
"Mr Chong will immediately undertake a strategic review of the company's activities, with a focus on streamlining efficiencies, reducing expenditure and practising the finalisation and execution of the numerous global commercial opportunities currently in progress by the company,” the statement said.
Mr Hanly took leadership of Singular Health in 2019 and guided the company through its initial public offering in February 2021.
The company issued 30 million shares at 20 cents a piece to raise $6 million for its IPO.
Mr Hanly will remain engaged by the company as a consultant.
Singular Health chairman Howard Digby said the outgoing chief executive had been an abiding figure in the compnay’s journey.
“Having worked with Tom over the past few years, the board can attest to Tom’s passion for Singular Health,” he said.
“The board wishes to thank Tom for his role in the progress of the company, his commitment to the role, and his part in achieving many significant milestones during his tenure.
“We move forward under the stewardship of co-founder Denning Chong as interim chief executive.”
On the ASX, Singular Health shares were up 3.7 per cent to close at 5.6 cents.
