Universal Biosensors appoints new Director

Company News

Universal Biosensors (ASX:UBI) has announced the appointment of Craig Coleman as a non-executive director to its Board.

This company said Mr Coleman's appointment continues the recent board renewal process, following the appointments of Judith Smith in 2015 and David Hoey earlier this year.

UBI is focused on the research, development and manufacture of diagnostic test systems for point-of-care professional and home use. Its core technology is a disposable, multi-layer test strip, which incorporates a proprietary electrochemical sensing system that measures biomarkers in the blood.

Mr Coleman’s career of 30 years has spanned banking and finance, corporate advisory and funds management.

During his executive career, he has been a managing director of a publicly listed company (Home Building Society) and, prior to this, held a number of senior executive positions with ANZ Banking Group. He is currently the Executive Chairman of Viburnum Funds, an Australian-based specialist investment manager founded in 2007 with investments in private equity funds, strategic equities and Australian equities. Viburnum Funds currently holds around 14 per cent of UBI’s securities.

Mr Coleman currently retains non-executive directorship positions with publicly listed entities, Bell Financial Group, Pulse Health and Rubik Financial. He holds a Bachelor of Commerce from the University of Western Australia.

“Craig’s extensive investment management experience will be an asset to the company.” said UBI Chairman, Mr Andrew Denver. “We will benefit from his strong background in the finance and corporate advisory industry, as we strive to increase our shareholder value. We look forward to his contribution to UBI.”