Specialist care provider Cambian Group has appointed a non-executive director with significant restructuring experience to its board in the wake of its share price collapse.

Donald Muir, a qualified Scottish and Canadian chartered accountant, has joined the board with immediate effect.

He has completed several debt restructurings and asset disposal programmes in an executive or non-executive capacity at organisations such as Murray International, premier Property Group, Rangers Football Club and Northern Rock.

Muir has also delivered savings initiatives at three NHS trusts.

“I am delighted to welcome Donald to the group as non-executive director where his wealth of experience in company turnarounds will be an asset to the group,” said Christopher Kemball, non-executive chairman of Cambian.

The London-listed care provider reported a loss of £7.6 million and an ebitda drop by 12.2% to £42.5 million – lower than forecast – in disappointing 2015 financial results.  

A forecast in October last year that ebitda for 2015 would not meet expectations and be around the £49 million mark caused Cambian’s share price to halve. Meanwhile, a revised prediction of £46 million in February 2016 caused it to halve again.

Share price currently stands at 65.8 pence.