Sinclair Announces New Board Appointment and Senior Management Change

Sinclair (www.sinclair.com) a global aesthetics company headquartered in London and fully-owned subsidiary of Huadong Medicine Company Limited announces that Chris Spooner is stepping down as CEO to be replaced by Miguel Pardos, who will also join the board of Sinclair. Alan Olby, former CFO will also be leaving the company.

Miguel Pardos has been CEO of Sinclair’s EBD division since the acquisition of Cocoon Medical in 2021 and will take over as group CEO on June 1. Chris Spooner will be taking up a consultancy role as part of this change and will remain with the company in this position for the foreseeable future.

Mr Spooner presided over the transformation of Sinclair from a small and unprofitable medicinal dermatology company to a major player in the aesthetic market. The company was acquired by Huadong Medicine in 2018 and has continued its rapid growth since then. The ever-increasing importance of the EDB division within Sinclair and Mr Spooner’s desire to pursue other challenges has prompted the change in management which is anticipated to be seamless with no major changes in company philosophy or vision.

Miguel Pardos, CEO of Sinclair commented, "I feel privileged to be taking the helm at Sinclair. The company has very strong foundations and I will be dedicated in my efforts to build Sinclair into one of the leading players in the aesthetics industry. We will do this through innovation, a focus on quality, safety and a customer-centric ethos. We have exciting times ahead at Sinclair. I would like to put on record my thanks to Chris for his exceptional contribution in creating this exciting and dynamic business.”

Commenting on his departure Chris Spooner said, “I’ve enjoyed the most incredible 12 years at Sinclair. I am confident of Sinclair’s continued success as I leave a business with great products, culture and people. Thank you to everyone involved in the Sinclair story. I wish everyone the best and look forward to watching Sinclair go from strength to strength”.

Chengwei Liu, Chairman of Sinclair commented, “Chris and Alan leave with Sinclair in excellent health and their contribution to the business cannot be over-emphasised. Their vision and leadership have transformed the business into what it is today; a fast-growing aesthetics business with world-class products, an outstanding customer base, a platform to grow the business significantly in the future and a team of outstanding people.

In Miguel Pardos I believe we have an outstanding talent who will take the business forward and continue and build upon the success we have enjoyed in recent years; I am very excited for the future under Miguel’s leadership.”

About Huadong Medicine Co., Ltd.

HMC(SZ.000963), listed in 1999, is one of the top manufacturers and distributors of pharmaceutical and medical products in China, where it has over 12,000 employees and generated approximately $5.1 billion of revenue in the financial year ended 31 December 2021. Over the past five years, HMC has established a leading aesthetics business in China, offering a variety of fillers. HMC is an affiliate of China Grand Enterprise Inc. (CGE), an investment group headquartered in Beijing. CGE has four business sectors: pharmaceuticals and healthcare, commodities trading, real estate investment and financial services, among which, pharmaceuticals and healthcare sector is the core business. CGE is ranked in the top five enterprises in the Chinese Pharmaceutical industry and manages over 60 pharmaceutical subsidiary companies, HMC is the largest one.

About Sinclair

Sinclair is an international company operating in the fast growth, global aesthetics market. Sinclair has built a strong portfolio of differentiated, complementary aesthetics technologies in both the injectable and EDB segments. Both divisions are experiencing significant growth, targeting unmet clinical needs for effective, high quality, longer duration, natural looking and minimally-invasive treatments. Sinclair is planning entry to multiple new geographic markets and line extension launches over the next few years. The Group has an established sales and marketing presence in the EU markets, Brazil, Mexico, Colombia, UAE, Hong Kong and South Korea and a network of international distributors.

For more information, visit www.sinclair.com

Media Contacts:

Sinclair

Tel: +44 (0) 20 7467 6920

Miguel Pardos