Deltex Medical Group PLC
07 February 2006
Deltex Medical Group plc
Acquisition of TECO(TM)
7 February 2006 Deltex Medical Group plc ('Deltex Medical' or the 'Company'),
the AIM listed haemodynamic monitoring company, today announces that it has
acquired the TECO oesophageal Doppler monitor business from Medicina Limited for
an undisclosed sum.
Medicina Limited is a British medical device company focused on marketing
enteral feeding equipment. Since the early 1990s it has developed and marketed
an oesophageal Doppler monitor system, the TECO. The TECO monitor uses a
re-usable ultrasound probe, which is covered by a disposable single use sheath.
Up to three hundred TECO monitors have been installed in hospitals around the
world, with the largest bases established in Ireland, China, the UK and India.
Deltex Medical has agreed to acquire the intellectual property rights to the
TECO system together with all stocks of TECO devices and accessories. To meet
the cost of the acquisition and to provide finance for the subsequent
integration of the TECO system, the Company has placed with institutional and
other investors 1,030,000 new ordinary shares of 1p each at 20p per share to
raise £200,000 of cash after expenses. Application will be made for the new
shares to be traded on AIM and it is expected that dealings will commence on 14
February 2006. Following the issue of these new shares the Company has a total
of 74,149,216 ordinary shares in issue.
Deltex Medical's chairman, Nigel Keen, commented:
'The acquisition of TECO will allow us to integrate the best features of the
TECO system into the next generation of CardioQ monitors and opens up
opportunities to convert the TECO installed base to CardioQs in a number of
markets.
'In addition, the acquisition further strengthens our intellectual property
portfolio and consolidates our position in the growing market for haemodynamic
optimisation.'
For further information, please contact:-
Deltex Medical Group plc 01243 774 837
Nigel Keen, Chairman nigel.keen@deltexmedical.com
Andy Hill, Chief Executive andy.hill@deltexmedical.com
Ewan Phillips, Finance Director ewan.phillips@deltexmedical.com
Financial Dynamics
David Yates david.Yates@fd.com 0207 831 3113
John Gilbert john.gilbert@fd.com
Notes for Editors
Deltex Medical manufactures and markets the CardioQ monitor, which uses
disposable ultra-sound probes inserted into the oesophagus to determine the
amount of blood being pumped around the body - 'circulating blood volume'.
Reduced circulating blood volume is known as hypovolaemia, which leads to
insufficient oxygen being delivered to the organs. This causes medical
complications including peripheral and major organ failure which can lead to
death. Hypovolaemia, which is akin to severe dehydration, affects virtually
every patient having surgery because of the combined effects of pre-operative
starvation, the impact of the anaesthetic agents and trauma from the surgery
itself. Using fluids and drugs, guided by the CardioQ, to optimise the amount
of circulating blood significantly reduces post-operative complications allowing
patients to make a faster, more complete recovery and return home earlier.
The CardioQ incorporates the Company's proprietary software and a small
diameter, easy-to-use, minimally invasive, disposable oesophageal probe that is
used for transmitting and receiving an ultra-sound signal. By using this
technology, the CardioQ provides clinicians with the ability to haemodynamically
optimise critically ill patients and those undergoing routine moderate to major
surgery through the controlled administration of fluid and drugs. Haemodynamic
optimisation has been scientifically proven to improve the speed and quality of
patient recovery and reduce hospital stay.
There are already over 1,250 CardioQs currently in use in hospitals worldwide
and distribution arrangements are in place in over 30 countries. In addition,
there are currently more than 90 clinical publications on the use of the CardioQ
which have repeatedly:-
• validated the results of the Monitor against known standards for
measuring cardiac output, demonstrating that the technology works
• proved that the CardioQ works in a wide range of surgical procedures
• demonstrated that the Company's technology provides significant health
and economic benefits by helping to reduce post-operative complications and
length of hospital stays by an average of 30 to 40 per cent for a wide range of
patients.
This information is provided by RNS
The company news service from the London Stock Exchange
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