Deltex Medical Group PLC AGM Statement (7130O)
03 June 2020 - 4:00PM
UK Regulatory
TIDMDEMG
RNS Number : 7130O
Deltex Medical Group PLC
03 June 2020
Deltex Medical Group plc
("Deltex Medical" or the "Group")
AGM Statement 3(rd) June 2020
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:
Deltex Medical promotes the benefits of its unique Doppler-based
haemodynamic monitoring technology, backed by a substantial body of
scientific evidence, to anaesthetists in the operating room (OR)
and intensivists in intensive care (ICU). The COVID-19 pandemic is
providing an external stimulus to drive higher adoption rates of
the Group's TrueVue Doppler technology in ICUs, especially here in
the UK where our critical care probe revenues increased
significantly during March and April. However, as previously
announced, the ICU demand has been offset by a significant
reduction of OR-related revenues, as hospitals dramatically
curtailed admitting patients for elective surgery. This trend is
also reflected in the US and International markets where a large
percentage of Deltex Medical's revenues are OR related.
Now that the number of COVID-19 patients requiring
hospitalisation is continually decreasing, hospitals are moving to
restart elective surgery. At the moment it is too early to
determine what proportion of the reduction in OR-related revenues
experienced through the first half will be caught up later in the
year. Nor is it possible to assess how large demand will be this
year for TrueVue Doppler (and other modalities on its TrueVue
haemodynamic monitoring system) in the ICU setting. However, it is
already clear that, where COVID-19 patients are being treated,
there is increased demand for the Group's TrueVue Doppler.
As part of our management response to the pandemic, we have
taken proactive steps to minimise expenditure and reduce our cost
base. This includes the cessation of all discretionary expenditure,
implementing a hiring freeze, and, where appropriate, furloughing
staff members not required to service the day-to-day business. As a
consequence, we have been able to make significant savings which
have helped to offset the reduction in OR related revenues.
Deltex Medical Group plc 01243 774 837
investorinfo@deltexmedical.com
Nigel Keen, Chairman
Andy Mears, Chief Executive
David Moorhouse, Group Finance Director
Arden Partners plc 020 7614 5900
Ciaran Walsh
Dan Gee-Summons
Corporate Broking: Simon Johnson
Joint Broker
Turner Pope Investments (TPI) Ltd 0203 657 0050
info@turnerpope.com
Andy Thacker
Zoe Alexander
This announcement contains Inside Information as defined under
the Market Abuse Regulation (EU) No. 596/2014.
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 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 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 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
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END
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