Board Change

RNS Number : 3643I

Deltex Medical Group PLC

25 March 2015

 

Deltex Medical Group plc

("Deltex Medical", "the Company" or "the Group")

Board change: Tim Irish appointed director of NICE

25 March 2015 - Deltex Medical Group plc (LSE-AIM: DEMG), the global leader in oesophageal Doppler monitoring ("ODM"), announces that Tim Irish, a non-executive director, is to resign from the Board on 31 March 2015 following his appointment as a non-executive director of the National Institute for Health & Care Excellence ('NICE').

Mr Irish has been appointed by the UK Department of Health to serve as a non-executive director of NICE for a three year term starting 1 April 2015. In accordance with the terms of his NICE appointment, Mr Irish is stepping down from all healthcare company boards of which he is a member. Mr Irish's 2,848,484 ordinary shares in the Company, representing 1.3% of the issued ordinary share capital, are to be placed in a Blind Trust for the duration of his role at NICE. This is because NICE directors are prohibited from trading shares in life science companies whilst in office.

The Company has started a process to appoint a replacement non-executive director with experience of working with multi-national life science companies in the USA.

Nigel Keen, Deltex Medical's Chairman, commented:

"I would like to thank Tim for the contribution he has made to Deltex Medical in the last year and congratulate him on his new role with NICE where his experience from the industry perspective of evidence, evaluation and new technology adoption will be invaluable."

For further information, please contact:-

Deltex Medical Group plc	01243 774 837 [e-mail]
Nigel Keen, Chairman
Ewan Phillips, Chief Executive
Paul Mitchell, Finance Director
Nominated Adviser & Broker
Arden Partners plc	020 7614 5900
Chris Hardie
Joint Broker Zeus Capital Limited Dominic Wilson John Goold	020 7533 7727
Financial Public Relations
Newgate	020 7653 9850
Tim Thompson
Ed Treadwell Robyn McConnachie

Notes for Editors

Deltex Medical manufactures and markets haemodynamic monitoring technologies. Deltex Medical's ODM is the only technology to measure blood flow in the central circulation in real time. Minimally invasive, easy to set up and quick to focus, the technology generates a low-frequency ultrasound signal, which is highly sensitive to changes in flow and measures them immediately. Deltex has been the only company in the enhanced haemodynamic space to build a robust and credible evidence base proving the clinical and economic benefits of its core technology, ODM. Randomised, controlled trials using Doppler have demonstrated that early fluid management intervention will reduce post-operative complications, reduce intensive care admissions, and reduce the length of hospital stay.

During 2013, the Company launched the CardioQ-ODM+ monitor that offers clinicians both of the two best-established technologies, Deltex Medical's ODM technology as well as Pulse Pressure Waveform Analysis ('PPWA') in one monitor. This allows clinicians to have unique real time insights into each of flow, pressure and resistance, the three pillars of haemodynamics.

Company goal

ODM is increasingly recognised as a standard of care for patients undergoing major surgery and in critical care. The broader clinical area of haemodynamic management of which ODM is a core constituent is also now becoming widely accepted as an important major new medical modality. Consequently, the Company's focus is on maximising value from the opportunities presented as enhanced haemodynamic management is adopted into routine clinical practice around the world.

The Company is currently in the implementation phase of achieving this goal in a number of territories worldwide, operating directly in the UK, USA, Spain and Canada and through distribution arrangements in a further 30 countries.

There are over 3,200 monitors installed in hospitals around the world and over 600,000 patients have been treated to date using Deltex Medical's single patient disposable probes.

 

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