March 7, 2019 – Genmed, a specialist provider of vendor neutral managed services to the NHS, today announces the appointment of Ruth Billen as finance director.
She will be responsible for ensuring that Genmed’s financial controls are robust, the business is ready to scale and the appropriate internal and IT systems are in place to support this growth. Based at the company’s Welsh office in Cwmbran, she will also manage a finance team of four overseeing all accounting, budgeting, financial reporting and investment functions.
Since 2014, Genmed’s revenues have increased 275% - a reflection of the popularity and adoption of managed services in the NHS - with revenues of £38.6 million posted in its last financial year ending March 31, 2018. Genmed now works for over 40 NHS Trusts and Health Boards throughout the United Kingdom managing over 220 contracts worth in excess of £510 million.
A Chartered Accountant who gained eight years’ experience at PricewaterhouseCoopers (PwC) as an audit manager, Ruth Billen then worked in the aerospace and defence sector before moving into the IT industry.
Prior to joining Genmed, she was financial controller at Adapt, a private equity backed IT managed services provider, who was subsequently acquired twice, firstly by Datapipe in 2016 where she became finance director, and then in 2017 by Rackspace, a leading IT as a Service cloud company. At Rackspace, she was appointed director of accounting leading the integration of the numerous financial workstreams associated with the Datapipe business.
Commenting on her appointment, Ruth Billen says, “I wanted to be part of a smaller business again where I can be hands on and part of a team where I can make a difference. Joining Genmed is a real opportunity to be involved in an organisation that is growing quickly and has a very exciting future ahead.”
Robin Modak, Genmed’s chief executive officer, says, “Ruth was the candidate who shone in relation to an ability to see the financial implications of a fast moving business like ours. Not only does she have rigorous analytical skills and understands the complexities of different financial and funding models, but she can think laterally and intuitively too – skills we will need to capitalise on as we work to solidify Genmed’s position as the premier managed service provider to the NHS and look for opportunities to develop the business internationally.”
Founded in 2007 and based in London and Wales, Genmed is a vendor neutral managed service provider specialising in the health sector. It works with 40 NHS Trusts and Health Boards around the country where, to date, it has 220 contracts supporting a variety of clinical disciplines such as pathology, surgery, endoscopy, imaging along with medical records, IT and facilities. Genmed’s asset finance requirements are funded by large blue chip partners including Société Generale and GE Capital. Currently Genmed’s contract portfolio totals around £510 million.
Genmed is headquartered in Weybridge, Surrey. For further information, please visit www.genmed.eu
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