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No idea what it could mean to me , had thought it a total loss , appears it was 2017.
05/09/2022
SPHR.L
SPHERE MEDICAL HLDG PLC ORD GBP0.01
Takeover
154,777
Its actually ready in it's final test phase, needs fda approval but the institution has refused to provide further cash for the approval so it's up for sale. In a way it's probably a good state to sell it as there will be minimal work for the buyer to do plus it's automated so will fast track the whole process.
also uncannily checked for news yesterday and got the stark message. Question is what have they built with all those millions? If only we had FDA approval, someone could make a go of it somehow.
Yeah just noticed myself, though I'd check the website out after some time. Quite uncanny it was yesterday. Shame really if anyone takes it up though it's pretty much ready I guess, speaking to someone about a year back the latest model had come on leaps and bounds.
Has gone'tits up'. Admin rather than liquidation so maybe some slight hope for shareholders.
Anyone have any idea why this has just reappeared? Does anyone have any clue about who owns what joe with all those preference shares and layered companies?
An interesting article on the sad demise of a US company in a related field of endevour. This may present some opportunities for SPHR in the US / highlight some of the challenges they may face now in getting traction.
https://www.bbc.co.uk/news/business-45418615
Shame, noticed this the other day personally. The site has changed a little too.
Shareholder Dealing The Company had hoped to establish and operate a matched bargain service to enable shareholders wishing to buy and sell Sphere Medical shares to find counterparties. We have received advice that because of MiFID II (the Markets in Financial Instruments Directive) it will not be possible for the Company to operate such a service.
I wonder whats going on behind the scenes at sphere now. My shares are still sat with my broker awaiting collection from alternative broker, I wonder when it'll all start moving over.
Zaha makes all the difference.....
Funny auld game is football....:-) Nice one boys!!
This is still working......
Re good time to join, it’s probably true although Renken devastated the co, brought vast sp losses and massive dilution being private could give LVO the the space to deliver what R couldn’t. LVO comes from being COO and as I understand it the next phase is delivery of the automatic Proxima and US launch so about operations and R&D and he’s not coming with boasts of having a great track record of launching products that he didn’t deliver on. Hopefully he will go quietly about his business and deliver the product everyone wants, He has my best wishes not so much for the few pennies worth of shares I am left with but I think we all want to see a UK product like Proxima be successful.
Just realised LVOs new job coincided with the ftse at a new record high..(oh dear). Glad it wasn't today being Friday the 13th! ....last time this occured was back in January, Sphere at 9p! I'm staying in bed all day....
Will it be third time lucky for Sphere with yesterdays news of LVO's appointment as CEO? Not sure how internal appointments to the top job turn out, there are probably stats on these but hopefully we will soon be calling him ....Lucky Lucien. I'm not superstitious but try, try and try again comes to mind you will be successful on the third attempt or perhaps two is not enough, four too many....three is perfect. The Holy Trinity....the first prime no in mathematics or we're the third planet from the sun? Lots more I'm sure but he'll I'm beginning to feel lucky myself.
Well put JL....well put my good man!!
We wish the good Dr well and congratulate LVO on his new appointment as CEO. It's a great opportunity for an incoming man to make his mark on the Co which to be fair is in far better shape than when Dr R took over the reins in early 2014. LVO might turn out to be one of Napoleon's lucky generals. I know one thing for sure, I'd rather be joining Sphere as CEO now than in '14.
Great, Rencken heading back home with his tail between his legs, about time! How the chairman could thank him for his achievements, vision and strategy when he demonstrated none beggars belief but I guess the legal guys are all over these type of announcements. I hope Van Os has got what it takes and I wish him all the best for the future.
Completion of fundraising Sphere Medical Holding Limited, an innovative point-of-care monitoring and diagnostic devices company, announces that, further to the announcement on 21 August 2017, the Investment and Cancellation process is complete. Gross proceeds of the Investment were �5.1 million. The Company now has in issue 141,757,872 Ordinary Shares and 179,912,380 Convertible Preferred Shares. Funds managed by Woodford Investment Management Limited own 57.3% of the Company�s issued share capital and The Wales Life Sciences Investment Fund LP owns 18.8% of the Company�s issued share capital.
Change of Chief Executive Officer Sphere Medical Holding Limited, an innovative point-of-care monitoring and diagnostic devices company, announces that, Luci�n van Os, currently Chief Operating Officer, is to take over as Chief Executive Officer from Wolfgang Rencken, who is stepping down from the Board this month. Luci�n joined Sphere in June 2015 as COO. He has more than 12 years� experience in the medical device industry. An engineer by background, Luci�n has significant experience in bringing new technologies and products to the market. Luci�n has previously been CEO of some small and mid-sized medtech companies and has held senior and general management positions at Medtronic and Gambro. After close to 4 years at Sphere Medical and having successfully secured the future of the Company as a privately held entity with a new strategy, Wolfgang is stepping down as CEO to spend more time back in Germany with his family. Wolfgang will remain with Sphere until at least the end of 2017 and has committed to help in any way possible to ensure a well-structured and smooth transition. David Martyr, Chairman, said, �We would like to take this opportunity to thank Wolfgang for his tremendous contributions to our Company, his strategic vision and hard work to transform and guide the Company during his time in office and wish him all the best of success and happiness in his future pursuits. We are confident that Luci�n will be an excellent leader of the Company as it enters this important new phase of development.�
Wolfgang even alluded to it at one of the presentations last year...I know it looks bleak...but who knows...the application could be used in other devices that we are not aware of yet. One thing is for sure...self testing technology is here and it is thanks to devices becoming idiot proof and produced smaller that this is happening. If we manage to get a sensor that can house all the analytes of a real blood gas machine on the Proxima...then who knows where it could end up in... The new data analysis position is to use all the incoming data from the current Proxima devices currently out in the market place and already attached to patients, to utilize the sensor to the maximum....Quite a lot of data is likely coming in now from the training hospitals that have taken delivery so far...Much bigger bank of data been built up now for the product....
I take your points on notice, changes down the line and r & d. I've never been convinced we will see any benefit from the sensor being applied elsewhere, not that it's use is limited to our field but that Sphere has never shown any interest in a) licensing Proxima or b) hinted it's usefulness in other industries. Let's face it we are not exactly excelling in our preferred field, are we? If after all these years or since P3 anyway nobody but nobody as far as we know has said "blimey I want to buy that sensor its just what we need for xyz"..... Even assuming it has applicability in other areas I doubt we will see any benefits as that's way down the road from here. I mean the whole sensor would have to be reconfigured and we just dumped the guy who specialised in this field. It's a nice idea but an impractical one methinks. If we started making some serious money that might be a different matter or at least see if others were willing to co develop the sensor. Woodford will I hope keep it simple until lactate and auto are completed we should stay determined in getting P4+(5) into hospitals and earning it's keep. 510k in a couple of years and if others are interested in the sensor technology no doubt that will be reflected in an increased value for Sphere. Interested parties will be watching our progress with much interest heading towards 2020.
The contracts allow for a notice period of time to be served...so we could easily have changes in the months a head... Along side the R&D...is an improved distributors deal in place....for whatever comes out of Proxima. The direct sales thing was a non starter....but we had no choice...I still think and hope that the sensor will have applications going forward for other devices as it is improved...
I can't be the only one who thinks the Brexit negotiations are no less than a 'dogs dinner', whether us or the Euro team it's in disarray. The supply teacher, an ex gofer from the B of E and now chief waffler for the Brexiters steers a perilous course of indecisive action. No one believes her bluff of no deal is better than a bad deal and she'll walk she's far too risk averse for that! Half the cabinet are opposed to her and her top aides Green, Hammond, Johnson & Davis are in disagreement, a bunch of mishmashers! Love him or loathe him Bojo should be at the table to stiffen Maybots resolve for was not 'self rule' enshrined in the Atlantic Charter and Statute of Westminster? Two referendums and one in Scotland overwhelmingly backed self rule here and abroad. Catalonia and Kurdistan following on. A bit more table banging is required at the talks and less chatter in Westminster.