Deltex Medical Group PLC Pre-Close Statement and Director Appointment (2289M)
January 20 2021 - 1:00AM
UK Regulatory
TIDMDEMG
RNS Number : 2289M
Deltex Medical Group PLC
20 January 2021
20 January, 2021
Deltex Medical Group plc
Pre-close statement
Appointment of a Director
Deltex Medical Group plc (the "Group" or "Deltex Medical") (AIM:
DEMG), the global leader in oesophageal Doppler monitoring, today
announces:
(i) a pre-close statement, which adds to the announcement made
by the Group on 21 December, 2020, for the year ended 31 December,
2020; and
(ii) the appointment of Tim Irish as a Director of Deltex Medical.
Revenues for the year ended 31 December, 2020 were GBP2.4
million (2019: GBP4.3 million). As previously announced, revenues
in the year were adversely affected by the impact of COVID-19 and
the associated significant reduction in elective surgical
procedures worldwide.
Cash at hand at 31 December, 2020 was GBP0.9 million (2019:
GBP0.9 million).
Professor Tim Irish will join the Board with immediate effect.
Tim has worked in the life sciences industry for 30 years. His
career has spanned global health technology companies across Europe
and North America, including GSK, GE and Philips. Between 2007 and
2015 he served on 10 Boards, 5 of which as Chair.
Tim's current appointments cover life sciences and healthcare,
both public and private, including his Board role at NICE where he
is Vice Chair, various European med-tech supervisory board roles,
and Professor of practice at King's College London's School of
Management and Business.
Link to the Deltex Medical announcement of 21 December, 2020:
https://www.deltexmedical.com/wp-content/uploads/2020/12/Successful-completion-of-share-issue-and-retirement-of-director.pdf
There is a presentation on the Group by the CEO uploaded on 21
December, 2020 on the Deltex Medical website.
Commenting on the appointment of Tim Irish to the Board, Nigel
Keen, Chairman of Deltex Medical, said:
"I am very pleased to welcome Tim Irish back to the Board. He
brings with him great experience in medical device businesses
coupled with insights into the way that the NHS adopts new
technologies gained from his time as Vice-Chair of NICE. This is
particularly significant for Deltex as haemodynamic management
becomes increasingly important in the successful management of
patients admitted to hospital with COVID-19."
Deltex Medical provides the following disclosures in accordance
with Schedule 2(g) of the AIM Rules for Companies.
Full name (age) : Timothy Irish (56)
Previous directorships / partnerships
Current directorships: (in the last five years):
--------------------------- --------------------------------------
Feedback plc Quirem Medical BV
eZono AG Fiagon AG
ImaginAb Inc Rutherford H ealth plc
Life Sciences Hub Wales Li
Ventinova BV mited
Pembrokeshire Retreats Ltd Anthem Schools Trust
SCI Irish Anthem Schools Trading Limited
Styrene Systems Ltd
There are no further disclosures pursuant to Schedule 2(g) of
the AIM Rules for Companies to be made in respect of Mr Irish's
appointment.
For further information, please contact:
Deltex Medical Group plc 01243 774 837
Nigel Keen, Chairman investorinfo@Deltexmedical.com
Andy Mears, Chief Executive
David Moorhouse, Group Finance Director
Arden Partners plc 020 7614 5900
Ben Cryer info@arden-partners.com
Dan Gee-Summons
Joint Broker
Turner Pope Investments (TPI) Ltd 0203 657 0050
Andy Thacker info@turnerpope.com
Zoe Alexander
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 ("ODM") (TrueVue Doppler) measures blood flow
velocity in the central circulation in real time. Minimally
invasive, easy to set-up and quick to focus, 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 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.
Deltex Medical's TrueVue System on the CardioQ-ODM+ monitor
platform now provides clinicians with two further advanced
haemodynamic monitoring technologies. TrueVue Impedance is an
entirely non-invasive monitoring technology which transmits low
magnitude, high frequency electrical signals through the thorax and
measures the changes to this signal when the heart pumps blood.
TrueVue PressureWave uses the peripheral blood pressure signal
analysis to give doctors information on changes in the circulation
and is particularly suited to monitoring lower risk or
haemodynamically stable 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. Consequently, the Group's focus is on
maximising value from the opportunities presented, as enhanced
haemodynamic management is adopted into routine clinical practice
around the world. The Group aims to provide clinicians with a
single platform - a 'haemodynamic workstation' - 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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