Deltex Medical Regulatory News (DEMG)

3 Dec 2008 09:20



Deltex Medical Group plc

Five year contract for CardioQ-ODM™ awarded by UCLH

3 December 2008 - Deltex Medical Group plc ("Deltex Medical" or the "Company"), the UK's leading haemodynamic monitoring company and global leader in oesophageal Doppler monitoring ('ODM'), announces today the award of a new contract to supply CardioQ-ODM equipment to University College London Hospital (UCLH) NHS Foundation Trust.

Following a formal tender process, UCLH has appointed the Company on an exclusive basis to supply it with ODM equipment for a period of five years with a potential extension for two further years. Under the terms of the contract the Company will upgrade each of the twenty-two CardioQ monitors in use in UCLH to the state-of-the-art CardioQ-ODM monitor launched earlier this year. UCLH is currently using around 100 disposable ODM probes each month (i.e. using ODM to treat 100 patients per month) and the managed service contract allows for future expansion beyond this base level.

Deltex Medical's Chief Executive, Andy Hill commented:

"UCLH has led the adoption of ODM in the UK and beyond for many years. This new contract positions us to support the doctors at UCLH in the next phase of their plans to make ODM-guided fluid management a standard of care in major surgery."

For further information, please contact:-

Deltex Medical Group plc 01243 774 837

Nigel Keen, Chairman  njk@deltexmedical.com

Andy Hill, Chief Executive ahill@deltexmedical.com

Ewan Phillips, Finance Director eap@deltexmedical.com 

Gavin Anderson & Company 0207 554 1400

Deborah Walter dwalter@gavinanderson.co.uk

Robert Speed rspeed@gavinanderson.co.uk

Nominated Adviser & Broker

Charles Stanley Securities 020 7149 6000

Philip Davies philip.davies@csysecurities.com 

Russell Cook russell.cook@csysecurities.com 

  Notes for Editors

Deltex Medical manufactures and markets the CardioQ-ODM™ monitor, which uses disposable ultra-sound probes inserted into the oesophagus to determine the amount of blood being pumped around the body - 'circulating blood volume'. Reduced circulating blood volume is known as hypovolaemia, which leads to insufficient oxygen being delivered to the organs. This causes medical complications including peripheral and major organ failure which can lead to death. Hypovolaemia, which is akin to severe dehydration, affects virtually every patient having surgery because of the combined effects of pre-operative starvation, the impact of the anaesthetic agents and trauma from the surgery itself. Using fluids and drugs, guided by the CardioQ-ODM, to optimise the amount of circulating blood significantly reduces post-operative complications allowing patients to make a faster, more complete recovery and return home earlier.

The CardioQ-ODM incorporates the Company's proprietary software and a small diameter, easy-to-use, minimally invasive, disposable oesophageal probe that is used for transmitting and receiving an ultra-sound signal. By using this technology, the CardioQ-ODM provides clinicians with the ability to haemodynamically optimise critically ill patients and those undergoing routine moderate to major surgery through the controlled administration of fluid and drugs. Haemodynamic optimisation has been scientifically proven to improve the speed and quality of patient recovery and reduce hospital stay.

There are already over 1,500 CardioQ-ODMs currently in use in hospitals worldwide and distribution arrangements are in place in over 30 countries. In addition, there are currently more than 100 clinical publications on the use of the CardioQ-ODM which have repeatedly:-

Validated the results of the Monitor against known standards for measuring cardiac output, demonstrating that the technology works

Proved that the CardioQ-ODM works in a wide range of surgical procedures

Demonstrated that the Company's technology provides significant health and economic benefits by helping to reduce post-operative complications and length of hospital stays by an average of 30 to 40 per cent for a wide range of patients.

The SupraQ™ is an entirely non-invasive device which uses an ultrasound probe held at the base of the patient's neck to track the flow of blood in the aorta; it presents the same data as the CardioQ-ODM in a similar format and is used for taking snapshots or monitoring over short periods.