Issue of Equity

RNS Number : 3375V

Deltex Medical Group PLC

27 May 2008

 



Deltex Medical Group plc

Equity Issue - US funding

27 May 2008 Deltex Medical Group plc ('Deltex Medical' or the 'Company'), the UK's leading haemodynamic monitoring company, announces the issue of 3,367,004 shares to Nexus Medical Partners II, LP. This is part of £2.0 million of new finance to fund expansion of its sales and marketing operations in the USA and Germany that was previously announced on 18 April 2008.

Accordingly, application has been made for 3,367,004 new ordinary shares to be admitted to trading. The new ordinary shares will rank pari passu with the existing issued shares of the Company and dealings are expected to commence on 2 June 2008.

Following the issue of the new ordinary shares the Company will have a total of 95,854,911 ordinary shares in issue. 

For further information, please contact:-

Deltex Medical Group plc                 01243 774 837

Ewan Phillips, Finance Director            [e-mail] 

Paul Mitchell, Company Secretary        [e-mail]

Charles Stanley Securities                020 7149 6457

Nominated Advisor

Philip Davies                                       [e-mail] 

  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 1,500 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.

The SupraQ is an entirely non-invasive device which uses an ultrasound probe held at the base of the patient's neck to track the flow of blood in the aorta; it presents the same data as the CardioQ in a similar format and is used for taking snapshots or monitoring over short periods.

 

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