Last checked at 20 Jan 2021 07:00
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 £2.4 million (2019: £4.3 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 £0.9 million (2019: £0.9 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)
Current directorships: | Previous directorships / partnerships(in the last five years): | |
Feedback plc | Quirem Medical BV | |
eZono AG | Fiagon AG | |
ImaginAb Inc | Rutherford Health plc | |
Ventinova BV | Life Sciences Hub Wales Limited | |
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 Dan Gee-Summons | info@arden-partners.com |
Joint Broker | |
Turner Pope Investments (TPI) Ltd | 0203 657 0050 |
Andy Thacker Zoe Alexander | info@turnerpope.com |
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