24 Apr 2015 07:00
Deltex Medical Group plc
("Deltex Medical" or "the Company")
Deltex appoints US medtech industry expert to Board
24 April 2015 - Deltex Medical Group plc, the global leader in oesophageal Doppler monitoring ("ODM"), today announces that it intends to appoint Chris Jones as a Non-Executive Director after the Company's Annual General Meeting to be held on 6 May 2015.
Christopher Michael Jones, aged 48, is a US citizen with over 25 years' experience in the medical technology industry in senior management positions for both large multi-national and smaller early stage companies.
Mr Jones worked in marketing leadership roles in the USA for Tyco Healthcare (now Covidien Inc) for nine years until 2004, most recently as Vice President of Marketing for the Nellcor monitoring and critical care division. He was then CEO of Tensys Medical Inc, a California based haemodynamic monitoring company until a successful sale of the business. From 2008 until April 2015 he has been CEO of Glysure Limited, a UK based early stage monitoring company focused on critical care applications.
Nigel Keen, Deltex Medical's Chairman, commented:
"We are delighted that Chris Jones has agreed to join the Deltex Board of Directors. He brings a wealth of both large company and small company experience directly relevant to our goal of building a major international medical technology business. We expect his knowledge of US healthcare to be especially valuable as we increase our focus on the massive potential market for our innovative products in the USA."
The following information regarding Mr Jones' appointment is required to be disclosed under Schedule Two paragraph (g) of the AIM Rules for Companies:
Chris Jones does not currently hold shares in the Company.
Other directorships/partnerships held:
Current | Within last five years |
None | Glysure Limited |
| Lightship Medical Limited |
Save as disclosed above, there are no other details to be disclosed regarding Mr. Jones' appointment as required under paragraph (g) of Schedule 2 of the AIM Rules.
For further information, please contact:-
Deltex Medical Group plc | 01243 774 837 investorinfo@deltexmedical.com |
Nigel Keen, Chairman |
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Ewan Phillips, Chief Executive |
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Barry Curtis, Company Secretary |
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Nominated Adviser & Broker |
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Arden Partners plc | 020 7614 5900 |
Chris Hardie |
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Joint Broker Zeus Capital Limited Phil Walker Dominic Wilson
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020 7533 7727
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Financial Public Relations |
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Newgate | 020 7653 9850 |
Tim Thompson |
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Robyn McConnachie Ed Treadwell |
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Notes for Editors
Deltex Medical manufactures and markets CardioQ-ODMÔ Oesophageal Doppler Monitoring ('ODM') systems. ODM is the only therapy to measure blood flow 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 flow and measures them immediately. Randomised, controlled trials using Doppler have demonstrated that early fluid management intervention will reduce post-operative complications, reduce intensive care admissions, and reduce the length of hospital stay.
The CardioQ-ODM has two distinct established clinical applications: firstly, to guide fluid management during surgery and secondly, to monitor cardiac output in critical care settings.
Surgical market
In March 2011 the National Institute for Health & Clinical Excellence ('NICE') recommended that CardioQ-ODM be considered for use in patients undergoing major and high risk surgery and in high risk patients undergoing intermediate risk surgery. NICE estimated the applicable number of such patients in the NHS in England alone to be over 800,000 each year. CardioQ-ODM has been shown to be effective in both elective and emergency surgery and with both general and regional anaesthetics. This recommendation was specific to CardioQ-ODM and was based on the robust evidence base that supports its use.
Subsequent to the NICE guidance, the NHS in England announced its selection of ODM as a high impact innovation to be rolled out across the system fully, at pace and scale with significant financial penalties starting in the NHS 2013/14 financial year ending 31 March 2014.
The NICE evaluation and recommendation confirms that the potential global market for CardioQ-ODM in surgery includes tens of millions of patients, even if confined to developed health economies: the most conservative estimate of the potential value of the market opportunity Deltex Medical has created is in excess of £1 billion per annum. The Company's core focus is on building market leading positions in this surgical market, both geographically and by type of surgery.
Critical care market
In critical care settings, well-equipped hospitals will often have more than one cardiac output monitoring technology available. In this environment, ODM's strengths are that it is quick to set up, easy to use, safe, low cost and the ideal technology for a patient in crisis requiring rapid or frequent intervention. The potential market for cardiac output monitoring in critical care is a fraction of the size of that for intra-operative fluid management.
Through the 2012 launch of the CardioQ-ODM+, Deltex Medical has added the Pulse Pressure Waveform Analysis ('PPWA') approach to monitoring cardiac output to ODM functionality. Doing this has improved Deltex Medical's offer for monitoring applications as well as providing doctors and nurses with a choice of clinical strategies appropriate to individual patients in different clinical settings.
Company goal
Our goal is to make oesophageal Doppler monitoring (ODM) a standard of care for patients in both these markets. We believe that, in most modern health systems, it is essential to have a robust evidence base of both clinical benefit and cost effectiveness in order to achieve system-wide adoption of a new medical technology. Deltex Medical is one of the very first medical technology companies to have completed the investment necessary to build such an evidence base: as a result, use of ODM during surgery has the proven potential to deliver both clinical and economic benefits that are material at each of patient, hospital and system level.
The Company is currently in the implementation phase of achieving this goal in a number of territories worldwide and there are already over 3,000 CardioQ-ODM systems in use in hospitals worldwide. Distribution arrangements are in place in over 30 countries.
Deltex Medical (DEMG)