REG - Deltex Med Grp PLC - Contract win in the Americas

Deltex MedicalAnnouncement

26/01/2022 07:05

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RNS Number : 6790Z  Deltex Medical Group PLC  26 January 2022

26 January 2022

 

Deltex Medical Group plc

Contract win in the Americas

 

Deltex Medical Group plc (the "Group" or "Deltex Medical") (AIM: DEMG), the
global leader in oesophageal Doppler monitoring, has received an order from a
key distributor in the Americas of US$200,000 for the current generation
TrueVue monitors. This order will also result in attractive on-going
contracted monthly revenues for the single-use probes, which are used with
these devices.

Over the past eighteen months Deltex and its distributor have been working
in-market to gain regulatory approval for the current TrueVue monitor and to
validate its use within the hospital systems. Initially the distributor
purchased five monitors to carry out in-hospital evaluations and these trials
proved successful leading to the TrueVue technology being chosen to fulfil the
initial government tender in that market.

As a result, Deltex has now received an initial order for monitors to fulfil
government-awarded contracts, with installation expected over the next nine
months. Further monitor orders are expected later this year once more tenders
are awarded.

This contract win reflects the broader growth achieved during 2021 by the
Group's international division.  Whilst direct sales in the UK and US markets
have been significantly adversely affected by COVID-19, the Group has
re-focused its commercial activities on territories where, in collaboration
with its network of distributors, it has been able to obtain regular access to
operating rooms. This has enabled Deltex it to demonstrate the value and
utility of its technology for elective surgery and in intensive care.

In 2021, the international division's revenues grew by more than 30% (2021
revenues: £0.83 million 2020: £0.6 million). This growth in revenues helps
to demonstrate the success that Deltex Medical can achieve when it is able to
access hospitals, and in particular operating rooms, to carry out on-site
training and evaluations.

Commenting on the overseas contract win, Andy Mears, CEO of Deltex Medical
said:

'I am delighted by this contract award as it helps underscore the potential
for growth and ongoing recurring probe revenues that exists for Deltex
Medical's core TrueVue Doppler technology around the world.'

 

For further information, please contact:

 Deltex Medical Group plc                                        01243 774 837

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

 Nominated Adviser and Broker                                    0207 614 5900

 Arden Partners plc
 Paul Shackleton (Corporate Finance)                              info@arden-partners.com (mailto:info@arden-partners.com)
 Simon Johnson (Corporate Broking)

 Joint Broker
 Turner Pope Investments (TPI) Ltd                               0203 657 0050
 Andy Thacker                                                     info@turnerpope.com (mailto:info@turnerpope.com)

 James Pope

 

 

 

Notes for Editors

Deltex Medical manufactures and markets haemodynamic monitoring technologies
which are primarily used in critical care and general surgical procedures.
Deltex Medical's proprietary oesophageal Doppler monitoring (TrueVue Doppler)
measures blood flow velocity in the central circulation in real time. The
technology generates a low-frequency ultrasound signal which is highly
sensitive to changes in blood flow and measures such changes in 'real time'.
Deltex Medical is the only company in the enhanced haemodynamic monitoring
space to have built a robust and credible evidence base demonstrating both the
clinical and economic benefits of its core technology: TrueVue Doppler. This
technology has been proven in a wide range of clinical trials to reduce
complications suffered by patients after surgery and consequently can save
hospitals money.

Clinicians would like to be able to monitor the haemodynamic status of awake
patients not only in the operating room and intensive care departments.  Our
R&D programmes will provide the capability for Deltex Medical devices to
be used in A&E, including, for example, for the rapid detection of sepsis,
as well as on lower acuity wards or outside the hospital setting.

Deltex Medical is designing the next generation of non-invasive Doppler
ultrasound devices that will be released onto the TrueVue platform and will
accurately measure a non-sedated patient's haemodynamic status anywhere within
the hospital and not just for elective surgical patients.

Group goal

Haemodynamic management is now becoming widely accepted as a vital part of the
anaesthesia protocols for surgical patients, as well as treating ventilated
intensive care patients, including ventilated COVID-19 patients. There is also
a desire to start measuring haemodynamics on awake patients outside of the
operating room or intensive care departments, such as in lower acuity units or
in A&E. Our R&D programmes are targeting these broader applications.
Consequently, the Group's focus is on maximising value from the opportunities
associated with: the COVID-19 pandemic; the elective surgery backlog; the
risks associated with sepsis; awake patients and the higher profile of
haemodynamic monitoring which has arisen from recent consolidation in the
sector.

The Group aims to provide clinicians with a modern, next generation, single
'haemodynamic workstation' platform which offers them a range of technologies
from simple to sophisticated to be deployed according to the patient's
clinical condition as well as the skill and expertise of the user. Doing this
will enable the Group to partner with healthcare providers to support modern
haemodynamic management across the whole hospital.

The Group is currently in the implementation phase of achieving this goal in a
number of territories worldwide, operating directly in the UK and the USA, and
via agreements with approximately 40 distributors overseas.

 

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