Last checked at 8 Jul 2021 07:00
8 July 2021
Deltex Medical Group plc
("Deltex Medical" or the "Group")
Pre-close trading update
Deltex Medical Group plc (AIM: DEMG), the global leader in oesophageal Doppler monitoring, today publishes an update on trading for the half-year ended 30 June 2021.
Revenues for the six months ended 30 June 2021 were £1.1 million (2020: £1.2 million). Unlike 2020, where activity levels were at pre-pandemic levels in January and February, the whole of the first half of 2021 has been adversely affected by COVID-19 and subdued elective surgery activity levels around the world.
The Group's International division saw a signficant increase in revenues, attributable to Deltex Medical's French distributor beginning to place regular orders again to satisfy demand associated with a contract previously awarded by the Greater Paris University Hospitals (Assistance Publique-Hôpitaux de Paris).
On the basis that the COVID-19 pandemic will abate as the year progresses, the Group continues to expect revenues to climb in the second half as the number of elective surgical procedures increases around the world.
Cash at hand on 30 June 2021 was £0.6 million (30 June 2020: £0.6 million).
Nigel Keen, Chairman of Deltex Medical, said:
"Given the subdued state of the Group's core elective surgery market, combined with ongoing challenges associated with Deltex Medical's clinical educators visiting key accounts, we are pleased that overall revenues held up reasonably well in the first half."
"It is encouraging to see our French distributor starting to order on a regular basis once more."
"We are looking forward to the elective surgery market starting to open up around the world in the second half as the benefit of COVID-19 vaccinations positively affect the prospects for the Group's core elective surgery markets"
For further information, please contact:
Deltex Medical Group plc | 01243 774 837 |
Nigel Keen, Chairman | investorinfo@Deltexmedical.com |
Andy Mears, Chief Executive |
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Natalie Wettler, Group Finance Director |
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Arden Partners plc | 020 7614 5900 |
Paul Shackleton
| info@arden-partners.com |
Oscair McGrath
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Joint Broker |
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Turner Pope Investments (TPI) Ltd | 0203 657 0050 |
Andy Thacker James Pope | 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 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.
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 associated with: the CV-19 pandemic; the elective surgery backlog; and the higher profile of haemodynamic monitoring which has arisen from the 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.