REG - Deltex Med Grp PLC - Completion of Nominated Adviser due diligence

Deltex MedicalAnnouncement

14/07/2022 07:00

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RNS Number : 4004S  Deltex Medical Group PLC  14 July 2022

14 July 2022

Deltex Medical Group plc

("Deltex Medical", the "Company" or the "Group")

 

Completion of Nominated Adviser due diligence and change of broker

 

Deltex Medical Group plc (AIM: DEMG), the global leader in oesophageal Doppler
monitoring, is pleased to announce that further to the announcement on 28
April 2022, Allenby Capital Limited has completed its nominated adviser due
diligence and will continue as the Company's Nominated Adviser.

 

The Company also announces that Allenby Capital Limited is now the Company's
sole broker.

 

For further information, please contact:

 Deltex Medical Group plc                                        01243 774 837

 Nigel Keen, Chairman                                            investorinfo@Deltexmedical.com (mailto:investorinfo@Deltexmedical.com)
 Andy Mears, Chief Executive
 Natalie Wettler, Group Finance Director

 

 Nominated Adviser and Broker

 Allenby Capital Limited                             020 3328 5656
 Jeremy Porter / Vivek Bhardwaj (Corporate Finance)  info@allenbycapital.com (mailto:info@allenbycapital.com)

 Tony Quirke (Sales & Corporate Broking)

 

Notes for Editors

Deltex Medical's technology

Deltex Medical's TrueVue System uses proprietary haemodynamic monitoring
technology to assist clinicians to improve outcomes for patients as well as
increase throughput and capacity for hospitals.

Deltex Medical has invested over the long term to build a unique body of
peer-reviewed, published evidence from a substantial number of trials carried
out around the world. These studies demonstrate statistically significant
improvements in clinical outcomes providing benefits both to patients and to
the hospital systems by increasing patient throughput and expanding hospital
capacity.

The Group's flagship, world-leading, ultrasound-based oesophageal Doppler
monitoring ("ODM") is supported by 24 randomised control trials conducted on
anaesthetised patients. As a result, the primary application for ODM is
focussed on guiding therapy for patients undergoing elective surgery.

During 2021, Deltex Medical's engineers and scientists carried out successful
research in conjunction with the UK's National Physical Laboratory ("NPL"),
which has enabled the Group's 'gold standard' ODM technology to be extended
and developed so that it can be used completely non-invasively.  This will
significantly expand the application of Deltex Medical's technology to
non-sedated patients. This new technological enhancement, which will be
available on the new next generation monitor, will substantially increase the
addressable market for the Group's haemodynamic monitoring technologies and is
complementary to the long-established ODM evidence base.

Our new non-invasive technology has potential applications for use in a number
of healthcare settings, including:

·    Accident & Emergency for the rapid triage of patients, including
the detection and diagnosis of sepsis, an important capability for patients
presenting with COVID-19 symptoms;

·    In general wards to help facilitate a real-time, data-driven
treatment regime for patients whose condition might deteriorate rapidly; and

·    In critical care units to allow regular monitoring of patients
post-surgery who are no longer sedated or intubated.

One of the key opportunities for the Group in 2022 is positioning this new,
non-invasive technology for use throughout the hospital. Our haemodynamic
monitoring technologies provide clinicians with beat-to-beat real-time
information on a patient's circulating blood volume and heart function. This
information is critical to enable clinicians to optimise both fluid and drug
delivery to patients.

Our business model is to drive the recurring revenues associated with the sale
of single-use disposable ODM probes which are used in the TrueVue System and
to complement these revenues with a new incremental revenue stream to be
derived from our new non-invasive technology.

Both the existing single-use ODM probe and the new, non-invasive device
connect to the same, next generation monitor which is due for launch in
2022.  Monitors are sold or, due to hospitals' often protracted procurement
times for capital items, loaned in order to encourage faster adoption of our
technology.

Deltex Medical's customers

The principal users of our products are currently anaesthetists working in a
hospital's operating theatre and intensivists working in ICUs. This customer
profile will change as our new non-invasive technology is adopted by the
market. In the UK we sell directly to the NHS. In the USA we sell directly to
more than 30 major hospitals that appreciate the value of our evidence-based
approach to haemodynamic management. We also sell through distributors in more
than 40 countries in the European Union, Asia and the Americas.

Deltex Medical's objective

            To see the adoption of our next generation TrueVue
System, comprising both minimally invasive and non-invasive technologies, as
the standard of care in haemodynamic monitoring for all patients from new-born
to adult, awake or anaesthetised, across all hospital settings globally.

For further information please go to www.deltexmedical.com
(http://www.deltexmedical.com)

 

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