Medical device developer Zi Medical has a new chief executive – in the shape of Peter Leyland – and he and chairman Sir Christopher Evans share the view that devices represent the ‘next stage’ of UK medical development.

After 19 years in the healthcare industry in the UK, the US and Europe with medical giant Baxter Healthcare, Leyland was appointed in April following the resignation of previous CEO Calum McKinlay. He maintains he took the job on the strength of Zi’s intellectual property portfolio and its relationships with the privatised former MoD laboratory Qinetiq and one of the largest medical devices companies in the world, Cardinal Healthcare.

Of the portfolio, the closest to market is the Ambulatory Syringe Driver, which pumps ‘walking wounded’ patients with a continuous flow of drugs. An exclusive UK agreement has been signed with Cardinal Healthcare’s intravenous delivery arm, Alaris, and a launch is not too far off.

Elsewhere in the portfolio, Zi’s Red Eye drip-counting product is ‘ready’ but is no longer saleable in the UK due to a change in drug delivery policy. Zi also has two products developed in conjunction with Qinetiq – a breast cancer screening tool and a device that measures the effectiveness of potential cardiac drugs. Leyland says, of both, that the company will look at extending the technology to other body tissues in due course.

In another executive move Alan Edwards – who Leyland claims is ‘probably the most connected person I know’ – has been taken on as non-executive director.

Shares in Zi, originally recommended by Growth Company Investor at 5.88p, moved to as high as 11p, before embarking on an unwelcome slump following the group's negative trading statement in the autumn of 2005. The company is currently in its closed period and should update the market in the next month or two. Speculative.