Medaphor Group PLC Notice of material contract change (2813J)
08 September 2016 - 4:01PM
UK Regulatory
TIDMMED
RNS Number : 2813J
Medaphor Group PLC
08 September 2016
MedaPhor Group plc
("MedaPhor" or the "Group" or the "Company")
Notice of material contract change
MedaPhor Group plc (AIM: MED), the global provider of advanced
ultrasound skills training simulators for medical professionals,
announces that the American Board of Obstetrics and Gynecology
(ABOG) has served notice on the Company to terminate its contract
with MedaPhor.
The directors believe that MedaPhor's business relationship with
ABOG is a good one and can be resurrected.
The ABOG has apprised MedaPhor that, if the patent infringement
action which was announced by the Company on 27 April 2016 is
resolved in a manner that is satisfactory to the ABOG, and there
are no other threats to MedaPhor's ability to market, sell and
support its ScanTrainer and related technology, the ABOG would
certainly welcome the opportunity to again do business with
MedaPhor. The ABOG also indicated that nothing it has done or
indicated should be construed as (i) any modification to the Notice
of Termination which it has communicated to MedaPhor or (ii) any
agreement to modify the Notice of Termination.
As stated previously, the directors believe that the patent
infringement action is without merit and the Company is currently
challenging the plaintiff's standing to bring the action,
vigorously defending its non-infringement position, as well as
preparing to challenge in court the validity of the patent in
question. The priority for the Group clearly remains to prevail on
this patent infringement action and resurrect the ABOG
relationship. The Company will update the market on progress made
in this regard as appropriate
Enquiries:
MedaPhor Group plc www.medaphor.com
Stuart Gall, CEO Tel: +44 (0)29 2075 6534
Cenkos Securities Tel: +44 (0)20 7397 8900
Bobbie Hilliam (Nominated
Adviser)
Julian Morse (Corporate
Broking)
Walbrook PR Tel: +44 (0)20 7933 8780 or
medaphor@walbrookpr.com
Paul McManus / Anna Mob: +44 (0)7980 541 893 /
Dunphy Mob: +44 (0)7876 741 001
This announcement contains inside information
About MedaPhor (www.medaphor.com)
MedaPhor (AIM: MED) is a global provider of advanced ultrasound
skills training simulators for medical professionals. Founded in
2004, the Company is headquartered in Cardiff, UK and San Diego,
USA, with customers in over 16 countries across the world.
Following its recent acquisition of Inventive Medical, the
company now has two of the world's leading ultrasound training
simulators:
ScanTrainer Professional, MedaPhor's market-leading ultrasound
skills training simulator, offers a realistic ultrasound scanning
learning experience that combines 'real-feel' haptic technology
with real full anatomy patient scans, real-time one-to-one expert
guidance and curriculum based teaching. The system offers trainees
a flexible self-learning experience without the need for patients
and with minimal requirement for expert supervision - making
ScanTrainer Professional both resource efficient and highly cost
effective.
ScanTrainer Professional's subscription-based Cloud 2 service
offers ScanTrainer users access to the unique Case Generation
Engine, which enables clinicians to upload and publish their own
patient scans and share these with other Cloud 2 subscribers within
their organisation or around the world. In addition, ScanTrainer's
Cloud Case Library offers users flexible cloud-access to a growing
library of nearly 300 normal and abnormal cases created using real
patient scans.
HeartWorks, developed by leading cardiac anesthesiologists at
University College London Hospitals, the HeartWorks simulators and
online training materials are recognised as one of the most
true-to-life and comprehensive educational tools for Transthoracic
and Transoesophageal echocardiography.
Medical practitioners can learn, through interactive online
content, the complete anatomy of the heart, view it from all angles
and recognise patient cases with pathological conditions. They can
then practise acquiring ultrasound images though correct probe
positioning on a simulator, interpret those images to determine
correct diagnosis and treatment, and finally be tested to ensure
that all required competencies have been achieved to the highest
standard.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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