Award to NHS Supply Chain Framework Agreement

Deltex Medical Group PLC

04 June 2024

 

4 June 2024

Deltex Medical Group plc

("Deltex Medical" or the "Group")

Deltex's new TrueVue System awarded to an NHS Supply Chain Framework Agreement

Deltex Medical Group plc (AIM: DEMG), the global leader in oesophageal Doppler monitoring, is pleased to announce the successful award by NHS Supply Chain ("NHSSC") of the national framework tender for the new TrueVue System in the UK. The award means that the new TrueVue System has been selected by NHSSC as a pre-approved device that can be purchased by NHS hospitals.

Commenting on the award, Andy Mears, CEO of Deltex Medical, said:

"We are delighted to have been awarded this framework agreement and in particular, with NHSSC seeing the value of the new TrueVue System to the NHS. Being selected to participate in the framework agreement with the NHSSC makes it easier for NHS hospitals to access the benefits of TrueVue including better surgical outcomes, significantly fewer post-operative complications and reduced hospital length of stay"

The framework agreement is not a purchase order but enables the NHS and approved customers to purchase Deltex Medical's new TrueVue System through a compliant route to market. The new TrueVue System will be supplied under NHSSC product category "lot 2: Specialist Patient Monitoring Equipment". This product category sits within the Patient Monitoring Equipment, Bedside Equipment Alarm Monitoring System and Related Products and Services category.

The framework agreement will commence on 8 June 2024 and, subject to the terms and conditions of the agreement, runs for a minimum of 24 months with an option for it to be extended by up to another 24 months.

The role of NHSSC is to source, deliver and supply healthcare products, services and food for NHS trusts and healthcare organisations across England and Wales. The tender award process for the new TrueVue System consisted of six steps in total, which were as follows:

·    Initial review of tender contents

·    Qualification

·    Product Compliance

·    Evaluation of non-financial information

·    Evaluation of financial information

·    Calculation of final scores and award of framework agreement

The new TrueVue System is the only haemodynamic monitor that combines direct independent measurements of both blood flow and blood pressure in a patient across each and every heartbeat in real time, providing the clinician with a range of clinically validated haemodynamic parameters. These haemodynamic parameters are used by clinicians to assess the patient's cardiac function to guide fluid and drug therapy to optimise cardiovascular performance (heart contractility) or normalise circulating blood volume (normovolaemia).

For further information, please contact:

Deltex Medical Group plc	01243 774 837
Nigel Keen, Chairman	[e-mail]
Andy Mears, Chief Executive
Natalie Wettler, Group Finance Director
Allenby Capital Limited - Nominated Adviser & Broker	020 3328 5656
Jeremy Porter / Vivek Bhardwaj (Corporate Finance)	[e-mail]
Tony Quirke / Stefano Aquilino (Sales & Corporate Broking)

Notes for Editors

Deltex Medical's technology

Deltex Medical's TrueVue System uses proprietary haemodynamic monitoring technology to assist clinicians to improve outcomes for patients as well as increase throughput and capacity for hospitals.

Deltex Medical has invested over the long term to build a unique body of peer-reviewed, published evidence from a substantial number of trials carried out around the world. These studies demonstrate statistically significant improvements in clinical outcomes providing benefits both to patients and to the hospital systems by increasing patient throughput and expanding hospital capacity.

The Group's flagship, world-leading, ultrasound-based oesophageal Doppler monitoring ("ODM") is supported by 24 randomised control trials conducted on anaesthetised patients. As a result, the primary application for ODM is focussed on guiding therapy for patients undergoing elective surgery, although sedated patients in intensive care are still an important part of our business. The Group's new, next generation monitor makes the use of the ODM technology more intuitive and provides augmented data on the status of each patient.

Deltex Medical's engineers and scientists carried out successful research in conjunction with the UK's National Physical Laboratory ("NPL"), which has enabled the Group's 'gold standard' ODM technology to be extended and developed so that it can be used completely non-invasively. This will significantly expand the application of Deltex Medical's technology to non-sedated patients. This new technological enhancement, which will be released on the new next generation monitor, will substantially increase the addressable market for the Group's haemodynamic monitoring technologies and is complementary to the long-established ODM evidence base.

Deltex Medical's new non-invasive technology has potential applications for use in a number of healthcare settings, including:

§ Accident & Emergency for the rapid triage of patients, including the detection and diagnosis of sepsis;

§ in general wards to help facilitate a real-time, data-driven treatment regime for patients whose condition might deteriorate rapidly; and

§ in critical care units to allow regular monitoring of patients post-surgery who are no longer sedated or intubated.

One of the key opportunities for the Group is positioning this new, non-invasive technology for use throughout the hospital. Deltex Medical's haemodynamic monitoring technologies provide clinicians with beat-to-beat real-time information on a patient's circulating blood volume and heart function. This information is critical to enable clinicians to optimise both fluid and drug delivery to patients.

Deltex Medical's business model is to drive the recurring revenues associated with the sale of single-use disposable ODM probes which are used in the TrueVue System and to complement these revenues with a new incremental revenue stream to be derived from the Group's new non-invasive technology.

Both the existing single-use ODM probe and the new, non-invasive device will connect to the same, new TrueVue monitor which was released onto the market in November 2023. Monitors are sold or, due to hospitals' often protracted procurement times for capital items, may be loaned in order to encourage faster adoption of the Group's technology.

Deltex Medical's customers

The principal users of Deltex Medical's products are currently anaesthetists working in a hospital's operating theatre and intensivists working in ICUs. This customer profile will change as the Group's new non-invasive technology is adopted by the market. In the UK the Group sells directly to the NHS. In the USA the Group sells directly to a range of hospital systems. The Group also sells through distributors in more than 40 countries in the European Union, Asia and the Americas.

Deltex Medical's objective

To see the adoption of Deltex Medical's new TrueVue monitor, comprising both minimally invasive and non-invasive technologies, as the standard of care in haemodynamic monitoring for all patients from new-born to adult, awake or anaesthetised, across all hospital settings globally.

For further information please go to www.deltexmedical.com

 

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