REG - Deltex Med Grp PLC - Award to NHS Supply Chain Framework Agreement

Deltex MedicalAnnouncement

04/06/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240604:nRSD9383Qa&default-theme=true

RNS Number : 9383Q  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                                            investorinfo@Deltexmedical.com
 Andy Mears, Chief Executive
 Natalie Wettler, Group Finance Director

 Allenby Capital Limited - Nominated Adviser & Broker            020 3328 5656
 Jeremy Porter / Vivek Bhardwaj (Corporate Finance)              info@allenbycapital.com
 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
(http://www.deltexmedical.com/)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDSSDFMDELSEIM