ParagonCare announces CEO change and new growth strategy

SYDNEY, AUSTRALIA: ParagonCare, a leading provider of medical equipment, devices, blood products and consumables in Australia, New Zealand and Asia, has today revealed that Mark Hooper will step down as its CEO and Managing Director.

The Company thanked Mark for his remarkable achievements, especially his strategic vision and his leadership in building a state-of-the-art blood products facility at Mt. Waverley in Victoria.

The Company also announced that John Walstab, the current head of ParagonCare Asia, will take over as the new CEO and Managing Director. John is the founder of Quantum Health Group Limited, which merged with ParagonCare in February 2022. He is also the largest shareholder of ParagonCare, owning about 19% of the Company.

John will officially start his new role on 19 October 2023 and Mark will assist him as needed during the transition period.

ParagonCare Chairman, Shane Tanner, said, We are very grateful to Mark for his outstanding service and we wish him all the best. We are also delighted to welcome John Walstab as our new leader, who shares our vision and passion for ParagonCare. This is a new and exciting chapter for our Company.

John has extensive healthcare experience in both Australia and Asia, which makes him an ideal leader for ParagonCare’s next stage. Before joining Quantum Healthcare, John was the Managing Director of Advanced Technology Laboratories, among other healthcare roles. His diverse background gives him a unique insight into the healthcare market and its opportunities.

Shane added, ‘Under John’s leadership, we have clear goals for the next year: to boost organic growth across all areas of ParagonCare and to enhance operating cash flow. We are still open to strategic acquisitions, but our main focus is on using John’s comprehensive knowledge of healthcare distribution and manufacturing to drive organic growth in all regions and business units. The Board is fully confident that John will lead us to a balanced mix of strategic growth and cost efficiency.”

Mark Hooper appointed CEO & MD of Paragon Care Limited

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