TIDMDEMG

RNS Number : 9529Z

Deltex Medical Group PLC

27 May 2021

27 May 2021

Deltex Medical Group plc ("Deltex Medical" or the "Group")

Chairman's statement to the Annual General Meeting

Director changes

Deltex Medical Group plc (AIM: DEMG), the global leader in oesophageal Doppler monitoring, today publishes an AGM statement and announces the appointment of a new Finance Director.

AGM statement

At today's Annual General Meeting, the Group's Chairman, Nigel Keen, will make the following statement :

"There are encouraging signs that around the world the volume of elective surgical procedures, which represent our core market, is climbing.

The Group's activity levels in the UK and the USA continue to face headwinds as we are still limited to the extent that we can get our clinical educators into hospitals.

Our International business is showing signs of increased activity levels as some of our distributors are beginning to increase the volume of orders significantly as compared to the prior year."

Director changes

As previously outlined in the announcement of the 2020 results on 22 April 2021, David Moorhouse is retiring as Group Finance Director and from the Board at the end of the AGM today.

Natalie Wettler, currently Group Financial Controller, is being promoted to Group Finance Director with effect from the end of the AGM.

Natalie held a number of senior roles in the Group's finance department between 2011 and 2016, and we were delighted when she agreed to rejoin the Group in January 2020 as Group Financial Controller.

Nigel Keen, Chairman of Deltex Medical, said:

"As the number of elective procedures begins to increase, we are looking forward to being able to get our clinical educators back into hospitals to assist clinicians with the use of Deltex Medical's haemodynamic monitoring technology. This will help hospitals reduce the level of avoidable complications and also help the Group drive the level of revenues derived from each hospital."

"I would like to thank David Moorhouse for all his hard work and wise counsel as Group Finance Director over the last 18 months. On behalf of the Board, I would wish him an enjoyable and relaxed retirement."

"The Board is delighted with the internal promotion of Natalie Wettler to Group Finance Director. She has a very detailed understanding of the Group's financial systems and structures, and we look forward to working closely with her."

*********************

The following information in relation to the appointment of Mrs. Natalie Emilia Wettler (aged 38) (née Natalie Emilia Antkowiak) is disclosed in accordance with Schedule 2(g) of the AIM Rules for Companies.

 
 Current directorships   Past directorships held within 
                          the last five years 
 None.                   None. 
                        ------------------------------- 
 

Mrs. Wettler does not have an interest in any ordinary shares of 1 pence each ("Shares") in the capital of Deltex Medical and holds 2,725,000 options over Shares.

There is no further information to be disclosed in relation to Mrs. Wettler's appointment pursuant to AIM Rule 17 or Schedule 2(g) of the AIM rules for companies.

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 
  designate 
 
 Arden Partners plc                         020 7614 5900 
 Paul Shackleton                             info@arden-partners.com 
 
 Joint Broker 
 Turner Pope Investments (TPI) Ltd          0203 657 0050 
 Andy Thacker                                info@turnerpope.com 
  James Pope 
 

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 monitoring 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. The next generation TrueVue monitor is targeted for release in Q4 2021.

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 associated with: the CV-19 pandemic; the elective surgery backlog; and the higher profile of haemodynamic monitoring which has arisen from the recent consolidation in the sector. The Group aims to provide clinicians with a modern, next generation, single 'haemodynamic workstation' platform 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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May 27, 2021 02:00 ET (06:00 GMT)

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