TIDMDEMG
RNS Number : 9102H
Deltex Medical Group PLC
01 August 2023
The information contained within this announcement was deemed by
the Company to constitute inside information as stipulated under
the UK Market Abuse Regulation
1 August 2023
Deltex Medical Group plc
("Deltex Medical Group" or the "Company")
Result of General Meeting
Deltex Medical Group (AIM: DEMG) announces that at the general
meeting of the Company held earlier today, all resolutions were
duly passed, including those needed to complete the recently
announced Fundraising and Capital Reorganisation to change the
nominal value of the Company's ordinary shares. The results of the
proxy voting will be available on the Company's website in due
course.
As outlined in the Company's announcement on 14 July 2023, it is
expected that Admission will become effective and dealings in the
New Ordinary Shares (including the Fundraising Shares) will
commence on AIM at 8.00 a.m. on 2 August 2023. The Company intends
to request that the current suspension of trading in the Company's
ordinary shares on AIM is lifted upon Admission.
Following the Capital Reorganisation, the Company's Ordinary
Shares will have a nominal value of 0.01p each and the ISIN, Sedol
and TIDM will remain the same, which are as follows:
ISIN: GB0059337583
Sedol: 3103865
TIDM/ticker: DEMG
Terms used but not defined in this announcement have the same
meaning as set out in the Company's announcement released at 18:01
on 14 July 2023.
Enquiries:
For further information, please contact:
Deltex Medical Group plc 01243 774 837
Nigel Keen, Chairman investorinfo@Deltexmedical.com
Andy Mears, Chief Executive
Natalie Wettler, Group Finance Director
Allenby Capital Limited - Nominated Adviser
& Broker 020 3328 5656
Jeremy Porter / Vivek Bhardwaj (Corporate info@allenbycapital.com
Finance)
Tony Quirke / Stefano Aquilino (Sales & Corporate
Broking)
ABOUT DELTEX MEDICAL'S TECHNOLOGY
Deltex Medical's TrueVue System uses proprietary haemodynamic
monitoring technology to assist clinicians to improve outcomes for
patients as well as increase throughput and capacity for
hospitals.
Deltex Medical has invested over the long term to build a unique
body of peer-reviewed, published evidence from a substantial number
of trials carried out around the world. These studies demonstrate
statistically significant improvements in clinical outcomes
providing benefits both to patients and to the hospital systems by
increasing patient throughput and expanding hospital capacity.
The Group's flagship, world-leading, ultrasound-based
oesophageal Doppler monitoring ("ODM") is supported by 24
randomised control trials conducted on anaesthetised patients. As a
result, the primary application for ODM is focussed on guiding
therapy for patients undergoing elective surgery. The Group's new,
next generation monitor makes the use of the ODM technology more
intuitive and provides augmented data on the status of each
patient.
Deltex Medical's engineers and scientists carried out successful
research in conjunction with the UK's National Physical Laboratory
("NPL"), which has enabled the Group's 'gold standard' ODM
technology to be extended and developed so that it can be used
completely non-invasively. This will significantly expand the
application of Deltex Medical's technology to non-sedated patients.
This new technological enhancement, which will be released on the
new next generation monitor, will substantially increase the
addressable market for the Group's haemodynamic monitoring
technologies and is complementary to the long-established ODM
evidence base.
Deltex Medical's new non-invasive technology has potential
applications for use in a number of healthcare settings,
including:
-- Accident & Emergency for the rapid triage of patients,
including the detection and diagnosis of sepsis;
-- in general wards to help facilitate a real-time, data-driven
treatment regime for patients whose condition might deteriorate
rapidly; and
-- in critical care units to allow regular monitoring of
patients post-surgery who are no longer sedated or intubated.
One of the key opportunities for the Group is positioning this
new, non-invasive technology for use throughout the hospital.
Deltex Medical's haemodynamic monitoring technologies provide
clinicians with beat-to-beat real-time information on a patient's
circulating blood volume and heart function. This information is
critical to enable clinicians to optimise both fluid and drug
delivery to patients.
Deltex Medical's business model is to drive the recurring
revenues associated with the sale of single-use disposable ODM
probes which are used in the TrueVue System and to complement these
revenues with a new incremental revenue stream to be derived from
the Group's new non-invasive technology.
Both the existing single-use ODM probe and the new, non-invasive
device will connect to the same, next generation monitor launched
in July 2023. Monitors are sold or, due to hospitals' often
protracted procurement times for capital items, loaned in order to
encourage faster adoption of the Group's technology.
Deltex Medical's customers
The principal users of Deltex Medical's products are currently
anaesthetists working in a hospital's operating theatre and
intensivists working in ICUs. This customer profile will change as
the Group's new non-invasive technology is adopted by the market.
In the UK the Group sells directly to the NHS. In the USA the Group
sells directly to a range of hospital systems. The Group also sells
through distributors in more than 40 countries in the European
Union, Asia and the Americas.
Deltex Medical's objective
To see the adoption of Deltex Medical's next generation TrueVue
System, comprising both minimally invasive and non-invasive
technologies, as the standard of care in haemodynamic monitoring
for all patients from new-born to adult, awake or anaesthetised,
across all hospital settings globally.
For further information please go to www.deltexmedical.com
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