Deltex Medical Group PLC Chairman's Statement to Annual General Meeting (9109R)
20 June 2018 - 4:00PM
UK Regulatory
TIDMDEMG
RNS Number : 9109R
Deltex Medical Group PLC
20 June 2018
20 June 2018
Deltex Medical Group plc
("Deltex Medical" or the "Group")
Chairman's Statement to Annual General Meeting
At today's Annual General Meeting of Deltex Medical Group plc
(AIM: DEMG), the global leader in Oesophageal Doppler Monitoring
("ODM"), the Group's Chairman, Nigel Keen, will make the following
statement:
Hospitals in the developed world are facing increasing pressure
to focus on patient safety, in part due to financial penalties or
the non-reimbursement of costs associated with avoidable adverse
events. Healthcare systems also face increasing costs from ageing
populations. Avoidable haemodynamic complications - such as
surgical site infections or acute kidney injuries - are expensive
and cause significant patient safety issues.
Deltex Medical's ODM technology has been shown in numerous
scientific studies to: (i) improve patient outcomes; (ii) reduce
attributable costs; and (iii) by extension, improve patient safety.
For example, the April 2018 FEDORA study showed a statistically
significant reduction in complications and median length of stay
for high, moderate and low risk patients.
This year Deltex Medical launched its TrueVue monitoring
platform in the UK which comprises three haemodynamic monitoring
technologies: (i) doppler ultrasound; (ii) impedance; and (iii)
arterial waveform analysis. We are waiting for regulatory approval
to launch the full suite of TrueVue products in the USA. In general
terms there is a trade-off between the ease-of-use and the
precision of the data generated from each monitoring technology.
The TrueVue platform enables clinicians to match the appropriate
technology to the risk profile of the patients as they move through
the hospital. For example, high-risk, anaesthetised patients
undergoing surgery can be treated under the guidance of the
minimally-invasive and very precise ODM probe, whereas lower-risk,
awake patients in a high dependency unit can be monitored using
non-invasive impedance.
The TrueVue platform also enables the Group to sell its
monitoring technologies into a larger addressable market. In the
past, Deltex Medical was only able to provide its ODM technology to
anaesthetists for use on anaesthetised patients undergoing surgery
in the operating theatre or sedated patients in an intensive care
unit. The TrueVue platform now enables Deltex Medical to market its
haemodynamic monitoring technologies into a significantly broader
number of clinical areas in the UK including accident &
emergency, awake-surgery and obstetrics.
Andy Mears, our new CEO, started with Deltex Medical as an
electrical engineer working on the first prototypes of the ODM
technology in 1989. He has extensive practical experience of
working with the ODM technology as well as discussing its
development and application with clinicians working in operating
theatres and intensive care. In his previous role he was
responsible for developing the Group's network of Key Opinion
Leaders and for the Group's International division which sells
Deltex Medical's technologies to hospitals in 40 countries via
distributors.
In the second half of 2018, Deltex Medical's management, led by
Andy Mears, will be working on optimising the Group's sales and
marketing activities in order to maximise the Group's revenues and
addressable markets. The team will also be exploring new ways of
addressing the challenge that many hospitals currently only use
haemodynamic monitoring for high risk patients. Studies suggest
that if this monitoring technology was extended to moderate and low
risk patients, then the costs to the healthcare system would be
lower and patients would benefit from reduced haemodynamic
complications (many of which only become apparent later and often
after the patient has left the hospital).
In practical terms this will involve focusing on three key
areas:
-- extending Deltex Medical's product offering on the TrueVue
platform to facilitate sales into a broader number of clinical
areas around the world to increase the size of the Group's
addressable market;
-- focussing on the effectiveness of the Group's sales processes
to maximise the sales of high margin, ODM disposable probes;
and
-- husbanding Deltex Medical's cash resources while moving
towards cash generation.
More information on these initiatives will be set out in the
Group's interim results which will be published in September
2018.
Deltex Medical Group plc 01243 774 837
investorinfo@Deltexmedical.com
Nigel Keen, Chairman
Andy Mears, Chief Executive
Jonathan Shaw, Group Finance Director
Nominated Adviser & Broker
Arden Partners plc 020 7614 5900
Chris Hardie
Ciaran Walsh
Joint Broker
Turner Pope Investments (TPI) Ltd 0203 621 4120
info@turnerpope.com
Andy Thacker
Financial Public Relations
IFC Advisory Ltd 0203 934 6630
Tim Metcalfe
Graham Herring
Heather Armstrong
Notes for Editors
Deltex Medical manufactures and markets haemodynamic monitoring
technologies. Deltex Medical's proprietary ODM (TrueVue(TM)
Doppler) is the only technology 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. Deltex has been the only group in the
enhanced haemodynamic space to build a robust and credible evidence
base proving the clinical and economic benefits of its core
technology, TrueVue(TM) Doppler, which is proven to reduce
complications suffered by patients after surgery and save hospitals
the costs of treating those complications.
Deltex Medical's TrueVue(TM) System on the CardioQ-ODM+ monitor
platform also now provides clinicians with two further advanced
haemodynamic monitoring technologies. High Definition Impedance
Cardiography is an entirely non-invasive monitoring technology
which creates an electrical field across the chest and measures the
disruption to this field when the heart pumps blood. Pulse Pressure
Waveform Analysis uses 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 an
important major new medical modality. 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 condition as well as the skill
and expertise of the user. Doing this will enable the Group to
partner 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, USA, Spain and Canada and through distribution
arrangements in a further 40 countries.
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END
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