Sphere Medical Holding plc Appt of Regional Distributor Company Update (8024E)
21 July 2016 - 4:00PM
UK Regulatory
TIDMSPHR
RNS Number : 8024E
Sphere Medical Holding plc
21 July 2016
21 July 2016
Sphere Medical Holding plc
("Sphere Medical" or the "Company")
Appointment of Regional Distributor and Company Update
Italian Distributor Appointed
Sphere Medical Holding plc (AIM: SPHR.L), an innovative
point-of-care monitoring and diagnostic devices company, is pleased
to announce the appointment of Burke & Burke S.p.A. ("Burke
& Burke"), as exclusive distributor of Proxima products in
Italy. Burke & Burke, established 40 years ago, has
considerable experience in point of care devices and already
markets a number of medical devices, including complex ventilation
devices and anaesthesia monitoring devices, to critical care units
in hospitals across Italy, with Proxima adding a complimentary
product to its portfolio.
Under the terms of the distribution agreement, Burke & Burke
will commence marketing of Proxima 4 immediately following its
launch. Burke & Burke has already committed to place an initial
order for Proxima 4 monitors and consumables.
Sphere Medical will continue to pursue the appointment of
further regional distributors for Proxima products in other
European markets where not yet present.
Company Update
The Company is continuing with preparations for the commercial
launch of Proxima 4 in Europe later this year, and is close to
completing the CE-marking process. Ahead of the launch of Proxima
4, the Company continues to build awareness of the patient-related
and cost benefits of the Proxima platform: while sales of Proxima 3
in the first half of 2016 continued to be modest, interest has
continued to grow, with more hospitals evaluating the product and
patient connections growing by more than 50% during the first half
of 2016 over the previous six months.
An important market trend is that hospitals increasingly wish to
capture data from point of care devices such as Proxima in
electronic records. Sphere Medical has established connectivity
between the Proxima platform and both Conworx and Clinisys data
management systems, two of the leading systems in Europe. The
Conworx customer base includes 1,800 hospitals in 25 countries.
CliniSys software systems are used in over 2,500 laboratories in 35
countries. Moreover, CliniSys products are utilised in 40% of NHS
Trusts in England and Scotland, with a further significant presence
in Germany, Netherlands, Belgium, France and Spain. The new
connectivity will allow the seamless transfer of test results from
Proxima directly into laboratory information systems and electronic
patient records.
The Company's manufacturing facility in Wales, which opened in
February 2016, has already commenced production of Proxima
components, and over the next 12 to 18 months the Company plans to
gradually transfer more elements of the production process from its
site at Harston, Cambridge to the Welsh manufacturing facility.
Dr. Wolfgang Rencken, Chief Executive Officer of Sphere Medical,
said: "We are delighted to appoint Burke and Burke as our first
regional distributor of the Proxima platform. This is an excellent
endorsement of Proxima and we look forward to the launch of Proxima
4 later this year, in addition to further distribution
agreements."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
- Ends -
For further information, please contact:
Sphere Medical Holding Tel: +44 (0)1223 875
plc 222
Dr Wolfgang Rencken, Chief
Executive Officer
Richard Wright, Chief
Financial Officer
Panmure Gordon Tel: +44 (0) 20 7886
2500
Freddy Crossley (Corporate
Finance)
Duncan Monteith (Corporate
Finance)
Tom Salvesen (Corporate
Broking)
Consilium Strategic Tel: +44 (0) 20 3709
Communications 5700
Mary-Jane Elliott spheremedical@consilium-comms.com
Chris Gardner
Ivar Milligan
Hendrik Thys
Notes for Editors
About Sphere Medical (AIM: SPHR.L)
Sphere Medical is an innovative point-of-care medical device
company. Its Proxima platform measures blood gases, electrolytes
and metabolites at the patient's bedside and aims to improve
patient care and reduce health system costs. The device is
currently sold directly to the critical care market via Sphere
Medical's sales force in the UK, Germany, The Netherlands and
Belgium. For further information, please visit
www.spheremedical.com.
About Burke & Burke
Burke & Burke, based in the Milan area, was founded in 1976
and is focused on Critical Care, Perinatal Care, Point of Care
Testing and Anaesthesia & Monitoring. It has sales teams
operating throughout Italy and is a distributor for more than a
dozen medical device companies.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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