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Innovate UK Smart Award granted

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RNS Number : 4457P
Deltex Medical Group PLC
10 October 2019
 

10 October 2019

Deltex Medical Group plc
("Deltex Medical" or "the Group")

Innovate UK Smart Award granted

Deltex Medical Group plc (AIM: DEMG), the global leader in Oesophageal Doppler Monitoring ("ODM") announces that its wholly owned UK subsidiary, Deltex Medical Limited, has been awarded a grant by Innovate UK, to develop 'TrueVue' - an innovative monitoring system to improve patient outcomes, reduce mortality and reduce healthcare costs.

Innovate UK is part of UK Research and Innovation, which is funded by the UK government and works in partnership with universities, research oirganisations, businesses, charities and government to create the best possible environment for research and innovation to flourish.

The total eligible project costs are £500,000, of which 70% (£350,000) will be reimbursed by Innovate UK with the balance funded from the Group's operating activities over the estimated eighteen month project.

TrueVue is designed for all patients from newborn to adult, anaesthetised or awake and across all hospital settings. Modern medicine faces increasingly complex cases as the population ages. Studies have demonstrated that protecting patients from haemodynamic instability via improved monitoring saves lives, improves outcomes and significantly reduces costs. Diagnostic haemodynamic monitoring equipment needs to display the interaction of blood flow and pressure if it is to provide high quality data from which clinical decisions can be made. Haemodynamic instability and low blood pressure are common clinical challenges, especially during surgery, with associated complications such as myocardial infarctions, strokes, surgical site infections and acute kidney injuries. Such complications have serious clinical and financial consequences including unplanned intensive care admissions; longer hospital stays; increased readmission rates; increased 30-day mortality; and shorter patient lifespan post discharge.  

This Innovate UK Smart Award is the largest of five grants that Deltex Medical Limited has been awarded so far this year to enhance the Group's unique range of haemodynamic monitoring technologies. The total value of eligible project costs for the five grants are £632,000 of which £446,000 represents the reimbursement of eligible costs incurred and defrayed with the balance to be funded from Deltex Medical's operating cash flows.

 

Andy Mears, Deltex Medical's CEO, commented:

 

"I am very pleased that we have been successful in winning this prestigious Innovate Smart Award.

 

The award of five grants this year helps to highlight the commercial and technological potential for Deltex Medical's unique range of haemodynamic monitoring technologies."

 

For further information, please contact:-

 

Deltex Medical Group plc

01243 774 837

Nigel Keen, Chairman

[email protected]

Andy Mears, Chief Executive






 

Nominated Adviser & Joint Broker


Arden Partners plc

020 7614 5900

Ciaran Walsh

Dan Gee-Summons






 



Joint Broker


Turner Pope Investments (TPI) Ltd

0203 657 0050

Andy Thacker

Zoe Alexander

[email protected]

 

 

Notes for Editors

Deltex Medical manufactures and markets haemodynamic monitoring technologies. Deltex Medical's proprietary oesophageal Doppler monitoring ("ODM") (TrueVue Doppler) measures blood flow velocity 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 blood flow and measures such changes in 'real time'. Deltex Medical is the only company in the enhanced haemodynamic space to have built a robust and credible evidence base demonstrating both the clinical and economic benefits of its core technology, TrueVue Doppler. This technology has been proven in a wide range of clinical trials to reduce complications suffered by patients after surgery and consequently save hospitals the costs of treating those complications.

Deltex Medical's TrueVue System on the CardioQ-ODM+ monitor platform now provides clinicians with two further advanced haemodynamic monitoring technologies. TrueVue Impedance is an entirely non-invasive monitoring technology which transmits low magnitude, high frequency electrical signals through the thorax and measures the changes to this signal when the heart pumps blood. TrueVue PressureWave uses the peripheral blood pressure signal analysis to give doctors information on changes in the circulation and is particularly suited to monitoring lower risk or haemodynamically stable patients.

 

Group goal

Haemodynamic management is now becoming widely accepted as an important part of the anaesthesia protocol for surgical patients. Consequently, the Group's focus is on maximising value from the opportunities presented, as enhanced haemodynamic management is adopted into routine clinical practice around the world. The Group aims to provide clinicians with a single platform - a 'haemodynamic workstation' - which offers them a range of technologies from simple to sophisticated to be deployed according to the patient's condition as well as the skill and expertise of the user. Doing this will enable the Group to partner healthcare providers to support modern haemodynamic management across the whole hospital.

The Group is currently in the implementation phase of achieving this goal in a number of territories worldwide, operating directly in the UK and the USA, and through distribution arrangements in approximately 40 other countries.

 

Innovate UK

Innovate UK drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas.

They connect businesses to the partners, customers and investors that can help them turn ideas into commercially successful products and services and business growth.

They fund business and research collaborations to accelerate innovation and drive business investment into R&D. Their support is available to businesses across all economic sectors, value chains and UK regions.

Innovate UK is part of UK Research and Innovation. For more information visit www.innovateuk.ukri.org

 


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 [email protected] or visit www.rns.com.
 
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