MedTech heads Down Under

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The Independent Online

An investment vehicle run by an Old Etonian financier acquitted of deception charges in the 1990s Blue Arrow case is expected to hint at a move to an Australian stock exchange tomorrow.

Union MedTech, which is quoted on the junior PLUS market and focuses on medical technology, is said to be preparing to refer to the plans as part of unveiling William Hunter as a new board director.

Hunter co-founded Vancouver-based Angiotech Pharmaceuticals while still a medical student in 1992 and turned it into a company worth nearly $2bn.

It is thought Union MedTech chairman Christopher Stainforth, who has been referred to as the "innocent star" of the Blue Arrow share price rigging scandal, is going to mention that the company could build its operations around acquisitions in Australasia, so necessitating a move from PLUS to Australia.