Deltex Medical Group PLC Pre-close Trading Update (6971L)
July 21 2017 - 2:00AM
UK Regulatory
TIDMDEMG
RNS Number : 6971L
Deltex Medical Group PLC
21 July 2017
21 July 2017
Deltex Medical Group plc
("Deltex Medical", "Deltex" or "the Company")
Pre-close Trading Update
Return to growth from stronger export and more stable UK
sales
Deltex Medical Group plc (AIM: DEMG), the global leader in
Oesophageal Doppler Monitoring ("ODM"), today announces an update
on trading in the half year ended 30 June 2017.
Highlights
-- Overall revenue growth of GBP0.2m (7%) to GBP2.9m
o US revenues ahead by GBP0.3m (35%)
o International sales GBP0.1m lower (9%) due to order timings:
underlying growth in larger markets of France, Scandinavia, South
Korea and Peru
o UK revenues marginally reduced at 3% behind H1 2016 with
GBP0.1m fall in probe sales mostly offset by other revenue
streams
-- US probe revenues ahead by over 20%
o Four additional major accounts added in H1 with approvals in
place at two more
o Pipeline expanded and increasing opportunities for spread
within hospital systems once opened
-- Benefits of investments made in operating improvements starting to come through
o C.GBP30,000 cost savings per month in manufacturing
efficiencies since January 2017
o UK launch of High-Definition Impedance Cardiography technology
on CardioQ-ODM+ platform: pipeline building with encouraging
response to date
o First Veterinary ODM system released in advance of September
launch
-- Cash at 30 June of GBP0.2m before additional fundraise of GBP0.55m to be announced today
Nigel Keen, Deltex Medical's Chairman, commented:
"The improved trends seen in the second half of 2016 have
continued into the first half of 2017 and driven a return to growth
in Group revenues. Both the level and rate of cash consumption in
the first half of 2017 were substantially reduced from the first
half of 2016. We enter the traditionally stronger second half with
underlying growth in all our key export markets, a more stable UK
position, higher probe margins and lower costs.
"We have made substantial progress towards evolving the Company
from a single technology to a multiple technology business and are
now starting to offer the three major modern advanced haemodynamic
monitoring technologies on a single platform."
For further information, please contact:-
Deltex Medical Group 01243 774 837
plc investorinfo@deltexmedical.com
Nigel Keen, Chairman
Ewan Phillips, Chief
Executive
Jonathan Shaw, Group
Finance Director
Nominated Adviser &
Broker
Arden Partners plc 020 7614 5900
Chris Hardie
Ciaran Walsh
Financial Public Relations
IFC Advisory 0203 053 8671
Tim Metcalfe
Graham Herring
Heather Armstrong
Notes for Editors
Deltex Medical manufactures and markets haemodynamic monitoring
technologies. Deltex Medical's proprietary ODM 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 company in the enhanced haemodynamic space
to build a robust and credible evidence base proving the clinical
and economic benefits of its core technology, ODM which is proven
to reduce complications suffered by patients after surgery and save
hospitals the costs of treating those complications.
Deltex Medical's CardioQ-ODM+ 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.
Company goal
Haemodynamic management is now becoming widely accepted as an
important major new medical modality. Consequently, the Company's
focus is on maximising value from the opportunities presented as
enhanced haemodynamic management is adopted into routine clinical
practice around the world. The Company 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 and skill and
expertise of the user. Doing this will enable the Company to
partner healthcare providers to support modern haemodynamic
management across the whole hospital.
The Company 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 30 countries.
There are over 3,400 monitors installed in hospitals around the
world and around 700,000 patients have been treated to date using
Deltex Medical's single patient disposable products.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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