TIDMDEMG
RNS Number : 6375Z
Deltex Medical Group PLC
17 May 2023
17 May 2023
Deltex Medical Group plc
("Deltex Medical" or the "Group")
Chairman's Statement to the Annual General Meeting
At today's Annual General Meeting of Deltex Medical Group plc
(AIM: DEMG), the global leader in Oesophageal Doppler Monitoring
("ODM"), the Group's Chairman, Nigel Keen, will make the following
statement:
AGM Statement
"As we outlined in our results statement on 30 March 2023, the
Group is making good progress towards finalising its new, next
generation monitor, including completing the necessary regulatory
documentation required for its launch. We announced in a further
update on 25 April 2023 that we intend to launch this new product
in June 2023. The initial product launch will be into the UK and EU
markets, and we will then seek regulatory approval for launch into
our other key global markets over the next 6-18 months.
This next generation monitor will also be used as the platform
for the new, non-invasive ultrasound device that we have been
developing based on the Group's core Doppler technology. Clinical
evaluations for this novel, non-invasive device are planned for the
end of 2023.
We are also supporting one of our distributors in Latin America
that included the current generation Deltex Medical TrueVue ODM+
monitor in a substantial government-funded national tender. The
full extent of the contract award for the Group is expected to be
known within the next couple of months; however, orders for the
ODM+ monitor have already been received by our distributor and the
installation of monitors into hospitals has started. We expect
these monitor sales to give rise to probe orders later this
year.
In addition, the Group continues to maximise revenues from the
current generation monitor and probes via its direct sales teams in
the UK and USA whilst simultaneously preparing the market for the
launch of the new, next generation monitor.
We are looking forward to the financial and marketplace benefits
of the launch of the new, next generation monitor whilst also
continuing to convert our stock of the current version of the ODM+
monitor into cash as a result of orders in our existing
markets."
For further information, please contact:
Deltex Medical Group plc 01243 774 837
Nigel Keen, Chairman investorinfo@Deltexmedical.com
Andy Mears, Chief Executive
Natalie Wettler, Group Finance Director
Allenby Capital Limited - Nominated Adviser
& Broker 020 3328 5656
Jeremy Porter / Vivek Bhardwaj (Corporate info@allenbycapital.com
Finance)
Tony Quirke / Stefano Aquilino (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. The Group will
shortly launch a new, next generation monitor which will make the
use of the ODM technology more intuitive and provide augmented data
on the status of each patient.
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 released 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.
Deltex Medical's 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;
-- 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 is positioning this
new, non-invasive technology for use throughout the hospital.
Deltex Medical's 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.
Deltex Medical's 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
the Group's new non-invasive technology.
Both the existing single-use ODM probe and the new, non-invasive
device will connect to the same, next generation monitor which is
due for launch in 2023. Monitors are sold or, due to hospitals'
often protracted procurement times for capital items, loaned in
order to encourage faster adoption of the Group's technology.
Deltex Medical's customers
The principal users of Deltex Medical's products are currently
anaesthetists working in a hospital's operating theatre and
intensivists working in ICUs. This customer profile will change as
the Group's new non-invasive technology is adopted by the market.
In the UK the Group sells directly to the NHS. In the USA the Group
sells directly to a range of hospital systems. The Group also sells
through distributors in more than 40 countries in the European
Union, Asia and the Americas.
Deltex Medical's objective
To see the adoption of Deltex Medical's 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
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