Deltex Medical Group PLC
10 April 2002
10 April 2002
Deltex Medical Group plc ('Deltex Medical' / 'Group' / 'Company')
CARDIOQ AWARDED REIMBURSEMENT CODING IN KOREA
Chichester, UK - Further to its announcement on 14 January 2002, Deltex Medical
(AIM: DEMG), the AIM listed haemodynamic monitoring company, is pleased to
announce that the Korean Government has now published its reimbursement rate to
be used to fund hospitals using Deltex's CardioQTM and related products in the
treatment of cardiac and cardiothoracic patients.
This reimbursement approval signals a significant step forward in the
development of Korea as a market for the CardioQTM, one which the Group believes
has considerable potential for growth.
Commenting, Nigel Keen, Deltex Medical's Chairman, said:
'We regard Korea as a market with considerable potential and we have received
considerable interest to date from the medical community. Working closely with
our distribution partner, E-Wha International Inc., we are now very well
positioned to develop the excellent opportunities in the Korean market.'
Korea represents a large and growing healthcare market*, with over 46 million
inhabitants. In 1998, healthcare expenditure was over US$13.9 billion (5% of
Korea's Gross Domestic Production) and, in 2000, the Korean market for medical
equipment and supplies was valued at US$960 million.
* source - Medistat
-ends-
For further information, please contact:
Deltex Medical Group, plc
+44 (0) 1243 774837
Nigel Keen, Chairman and Chief Executive
Ewan Phillips, Chief Financial Officer
Financial Dynamics
+44 (0)20 7831 3113
Stephanie Highett/Sarah Mehanna
Notes to Editors
Deltex primarily develops, assembles and markets a cardiac function monitor and
therapy guidance device, the CardioQTM ('CardioQTM'/'Monitor'). The CardioQTM
incorporates the Company's proprietary software and a narrow, easy-to-use,
minimally invasive, disposable oesophageal probe, used for transmitting and
receiving an ultra-sound ('Doppler') signal. By using this Doppler technology,
the CardioQTM provides clinicians with an early warning on the haemodynamic
condition of critically ill patients. This continuous, real-time monitoring
facilitates the administration of fluids or drugs in a timely fashion and
provides an provides an immediate assessment of their impact.
There are already over 600 CardioQTMs currently in use in hospitals worldwide
and distribution arrangements are in place in over 30 countries. In addition,
there are currently more than 75 clinical publications on the use of the CardioQ
TM which have repeatedly:-
• validated the results of the Monitor against known standards for measuring
cardiac output, demonstrating that the technology works
• proved that the CardioQTM works over a variety of types of operation
• shown 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 Company is also currently developing a number of new products:-
• A multi-patient probe for use in specific circumstances in certain markets
• The SupraQTM - a monitor based on the CardioQTM technology but using a
completely non-invasive probe; the prototype is being prepared for clinical
testing in the second half of 2002
• The NeuroQTM - a monitor designed to measure blood flow in the brain; the
new prototype is in preparation for clinical trials in the second half of
2002.
The multi-patient probe for use in operating theatres in the UK will be launched
in July 2002.
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.