TIDMDEMG
RNS Number : 8454L
Deltex Medical Group PLC
18 May 2022
18 May 2022
Deltex Medical Group plc
("Deltex Medical" or the "Company")
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:
AGM statement
"There are encouraging signs that the Group's revenues in the UK
and USA are beginning to recover, as disruption in hospitals caused
by COVID-19 continues to subside. Whilst stringent infection
control disciplines remain in place, the rate of growth of revenues
remains highly dependent on our sales teams and clinical educators
having the opportunity of good and engaged access in appropriate
units within hospitals; this remains a challenge in certain
accounts. However, as the number of global elective procedures
increases and access into hospitals improves for our teams of
clinical educators and sales experts, the use of Deltex Medical's
haemodynamic monitoring technologies is expected to recover towards
pre-Covid levels.
Our international division, which generates revenues via some 40
overseas distributors, continues to record increased activity
levels. Similar to 2021, we are expecting robust growth from this
division during the year.
At this AGM we are demonstrating our new, next generation
TrueVue monitor, that includes a novel non-invasive modality which
will be launched onto the UK and European markets later this year
subject to regulatory approval. The release of this monitor will
drive the new non-invasive device and will expand the addressable
market. We expect it to help us build a significant order book,
enable better access into hospitals and give rise to incremental
revenues as distributors and hospitals upgrade their current
monitors to this latest version, with purchases from both our
international distributors and hospitals in the UK and USA. We
anticipate that these incremental revenues will continue for a
number of years given the size of the installed base of the
existing Deltex Medical monitors in the market."
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
Nominated Adviser and Joint Broker
Allenby Capital Limited 020 3328 5656
Jeremy Porter info@allenbycapital.com
Vivek Bhardwaj
Joint Broker
Turner Pope Investments (TPI) Ltd 020 3657 0050
Andy Thacker info@turnerpope.com
James Pope
Notes for Editors
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 controlled trials conducted on anaesthetised patients.
As a result, the primary application for ODM is focussed on guiding
therapy for patients undergoing elective surgery.
During 2021, 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 available 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.
Our 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, an important
capability for patients presenting with COVID-19 symptoms;
-- 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 in 2022 is
positioning this new, non-invasive technology for use throughout
the hospital. Our 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.
Our 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 our new non-invasive
technology.
Both the existing single-use ODM probe and the new, non-invasive
device connect to the same, next generation monitor which is due
for launch in 2022. Monitors are sold or, due to hospitals' often
protracted procurement times for capital items, loaned in order to
encourage faster adoption of our technology.
Deltex Medical's customers
The principal users of our products are currently anaesthetists
working in a hospital's operating theatre and intensivists working
in ICUs. This customer profile will change as our new non-invasive
technology is adopted by the market. In the UK we sell directly to
the NHS. In the USA we sell directly to more than 30 major
hospitals that appreciate the value of our evidence-based approach
to haemodynamic management. We also sell through distributors in
more than 40 countries in the European Union, Asia and the
Americas.
Deltex Medical's objective
To see the adoption of our 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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