Deltex Medical manufactures and markets CardioQ-ODM™ Oesophageal Doppler Monitoring (ODM) systems. ODM is the only therapy to continually 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. Randomised Controlled Trials (RCTs), using Doppler, have demonstrated that early fluid management intervention can reduce postoperative complications, reduce intensive care admissions and reduce the length of hospital stay.
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 3,400 monitors installed in hospitals around the world and over 700,000 patients have been treated to date using Deltex Medical’s single patient disposable probes.
Nigel Keen, Deltex Medical’s Chairman, commented:
“In the first half of 2017, Deltex Medical increased its sales, improved its margins and reduced its costs. We are therefore substantially on course to reach our key short-term objective of moving through the operating cash break-even point. The Company entered the traditionally stronger second half
The Company entered the traditionally stronger second half with sales traction in its US and International businesses, a difficult but improved UK trend and the prospect of incremental returns from investments made in product development. The move from a single to a multiple technology platform increases significantly the Company’s marketing, commercial and strategic options.” (September 2017)
2018 News Releases
- 7 March 2018 Notification of Major Interest in Shares
- 1 March 2018 Deltex Medical’s Oesophageal Doppler Monitoring System reduces postoperative complications by 75 per cent
- 20 February 2018 CardioQ ODM wins Paris Hospital System tender
- 12 February 2018 Director dealing and issue of equity
- 9 February 2018 Result of General Meeting
- 9 February 2018 Result of Offer and Additional Allotment
- 24 January 2018 General Meeting Form of Proxy
- 24 January 2018 Placing, Subscription, Offer for Subscription and Loan Notes Circular
- 24 January 2018 Posting of Circular
- 23 January 2018 Result of oversubscribed Placing
- 23 January 2018 Fundraising announcement
- 17 January 2018 Major new US hospital account
- Pre-close Trading update for the year ended 31 December 2017
- 17 January 2018 Major new US hospital account
2017 News Releases
- 25 September 2017 Share Options
- Release and first sale of HD-ICG in France
- 1 September 2017 Interim Report 2017
- 31 August 2017 Notice of Results
- 30 August 2017 Investor Event
- 02 August 2017 Notification of Major Interest in Shares
- 28 July 2017 Notification of Major Interest in Shares
- 27 July 2017 Notification of Major Interest in Shares
- 21 July 2017 Placing and Issue of Shares
- 21 July 2017 Trading update
- 13 June 2017 Director/PDMR Shareholding
- 09 June 2017 Result of Annual General Meeting (AGM)
- 09 June 2017 2017 AGM Presentation
- 09 June 2017 Chairman’s Statement to the Annual General Meeting
- 09 June 2017 First randomised trial in thoracic surgery published
- 31 May 2017 Deltex granted patent for its innovative Combined Blood Flow and Blood Pressure Monitor
- 04 May 2017 Deltex releases non-invasive High Definition Impedance Cardiography module
- 03 May 2017 Exercise of Options
- 03 May 2017 Publication of Annual Report & Accounts 2016 and Notice of Annual General Meeting
- 27 April 2017 Deltex Medical Group plc Annual Report & Accounts 2016
- 27 April 2017 Results Presentation
- 27 April 2017 Results Summary for the year ended 31 December 2016
- 27 April 2017 EU TruVue Grant
- 20 April 2017 Investor Open Day and Notice of Results
- 4 April 2017 Exercise of Options
- 28 March 2017 Notification of Major Interest in Shares
- 22 March 2017 Grant of Options
- 22 March 2017 Share issues
2016 News Releases
- 30 November 2016 Additional US Platform Programme Account
- 4 November 2016 NHS Hospital Invests in ODM Equipment
- 8 September 2016 Three New US Platform Programme Accounts
- 8 September 2016 Results Presentation
- 8 September 2016 Interim Results for the Six Months Ended 30 June-2016
- 15 July 2016 Notification of Major Interest in Shares
- 11 July 2016 Results from head to head trial presented Significantly better outcomes from ODM
- 8 July 2016 Pre-close Trading Update
- 1 July 2016 Share Subscription
- 17 June 2016 Director PDMR Shareholding
- 8 June 2016 Two new accounts added to US platform programme
- Deltex Medical Group CEO Stunning results & Well positioned
- 1 June 2016 Excellent results from Spanish multi-centre ODM trial presented at major international clinical conference, ODM adopted into new national clinical guidelines in Spain
- 12 May 2016 Result of Annual General Meeting
- 12 May 2016 AGM Presentation
- 12 May 2016 Directors’ Shareholdings-Issue of equity
- 12 May 2016 Chairman’s Statement to Annual General Meeting
- 12 May 2016 Two additional US accounts added to platform programme
- 4 May 2016 Enhanced performance TruFlow probe launched in UK
- Deltex Medical Group Plc Ewan Philips talks TruFlow, improvements and sales
- 20 April 2016 Posting of Annual Report and Notice of AGM
- 12 April 2016 Results Summary for the year ended 31 December 2015
- 5 April 2016 Two new US platform programme accounts opened and notice of results
- 25 February 2016 Result of the GM
- 23 February 2016 Result of the Open Offer
- 8 February 2016 Placing, Loan Notes and Open Offer Circular
- 6 February 2016 Posting of Circular Announcement
- 3 February 2016 Fundraising Announcement
Operating mainly in the UK, with subsidiaries in the Canada, Spain and the USA, Deltex Medical manufactures and markets the CardioQ-ODM™.
Deltex Medical’s CardioQ-ODM oesophageal Doppler monitor (ODM) changes the way Clinicians can care for patients having major surgery or in intensive care. ODM is the only technology to measure blood flow in the central circulation; it is highly sensitive to changes in flow and measures them immediately and accurately. ODM is simple to use and enables Clinicians to intervene quickly and safely, based on small changes in circulating blood volume and so, avoid the dangers of reduced oxygen delivery.
ODM guided intraoperative fluid management (IOFM) is a cornerstone of Enhanced Recovery; delivering better quality, more cost effective care. It means patients recover from their surgery faster, leave hospital sooner and in better health than they otherwise would do. Having established a substantial high quality evidence base supporting wide-scale use of its products on both clinical and economic grounds, Deltex Medical is working with leading hospitals around the world to introduce ODM guided fluid management into routine use.
The committee is Chaired by Julian Cazalet and comprises of the remaining non-executive board members. It assists the board in fulfilling its oversight responsibilities. The primary functions are: to monitor the integrity of the company’s financial statements and other information to shareholders, to monitor the integrity of the company’s systems of internal control (including risk management), to oversee the company’s relationship with its external auditors and to review the effectiveness of the audit process.
This committee comprises of the Chair, Nigel Keen, and the remaining non-executive board members. The primary function of the committee is to determine the remuneration packages of the company’s executive directors and the award of company share options to the company’s employees, on behalf of the board
Nominated Advisors and Brokers
Arden Partners plc
125 Old Broad Street
London EC2N 1AR
Turner Pope Investments Ltd
6th Floor, Becket House
36 Old Jewry
London EC2R 8DD
The Royal Bank of Scotland plc
62-63 Threadneedle Street
PO Box 412
London EC2R 8LA
3 Ocean Way
Link Market Services Limited
34 Beckenham Road
Kent BR3 4TU
IFC Advisory Limited
AIM Rule 26
This information was last updated on 9 October 2017.
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A description of the business:
See Business Description section.
The names of its directors and brief biographical details of each:
See Directors section.
Description of the responsibilities of the members of the board of directors and details of any committees of the board of directors and their responsibilities:
See Board Committees section.
Its country of incorporation and main country of operation:
Deltex Medical Group plc is incorporated in England and Wales (Registration Number 3902895) which is also its main country of operation. Deltex Medical Group plc is traded on the UK AIM market only.
Its current constitutional documents (e.g. its Articles of Association):
The number of AIM securities in issue (noting any held as treasury shares) and, insofar as it is aware, the percentage of AIM securities that is not in public hands together with the identity and percentage holdings of its significant shareholders.
Please see share information
Details of any restrictions on the transfer of its AIM securities:
UK City Code on Takeovers and Mergers:
The Company is subject to the provisions of the UK City Code on Takeovers and Mergers.
Principles of Corporate Governance;
The Board recognises the importance of sound corporate governance. The company currently does not follow a specific corporate governance code. The Directors have implemented corporate governance procedures and established committees of the Board, including audit and remuneration committees, which they believe are appropriate for the Company’s size.
The company considers all Non-Executive Directors are independent.
Modern slavery encompasses slavery, servitude, human trafficking and forced labour. Deltex Medical Limited has a zero tolerance approach to any form of modern slavery. We are committed to acting ethically and with integrity and transparency in all business dealings.
For copies of the annual and interim reports please see Annual & Interim Reports section.
For all notifications made in the past 12 months please see News Releases section.
For most recent admission document together with any circulars or similar publications sent to shareholders within the past 12 months:
Exchanges or trading platforms on which the company has applied or agreed to have any of its securities admitted or traded
The company’s shares are traded on AIM. There are no other exchanges or trading platforms on which the company has applied or agreed to have its shares admitted or traded. There are no restrictions on the transfer of securities.
LSE Listing Page (external link)
Number of shares in issue
The company’s issued share capital comprises 313,213,367 ordinary shares of 1p each. All of the shares are fully paid; no shares are held as treasury shares. The percentage of shares not held in public hands is 13.31%.
- JO Hambro Capital Management – 9.87%
- Nigel Keen – 8.88%
- Charles Stanley & Co. Limited – 6.88%
- Andrew Muir – 4.86%
- Herald Investment Management Limited – 4.76%
- Legal and General Investment Management Limited – 3.89%
- Barclays Wealth and Investment Management (UK) – 4.63%
- Peter Smedvig – 4.17%
- TD Direct Investing – 4.32%
- Hargreaves Lansdown Asset Management – 3.56%
- Jarvis Investment Management – 3.14%
*Information as of 30 September 2017
This information was last updated on 9 October 2017.
The equity/research analysts at the investment and securities firms listed below, currently write research reports on Deltex Medical Group plc. Please note that this list is subject to change and that any estimates, forecasts or opinions are made by the analysts alone and do not represent the estimates, forecasts or opinions of Deltex Medical or its management.
Investors may wish to contact an analyst directly, in order to obtain copies of a research note. Unless otherwise indicated, the research cannot be obtained from Deltex Medical and there is no obligation upon the analyst to provide any report. Any reports issued may have become out of date after publication and should be read accordingly.
For general enquiries, notification of change of interest in shareholding under Disclosure and Transparency Rules, or if you are a shareholder, who wishes to have additional copies of the Report and Accounts, Interim Statements, presentations etc, please contact:
Deltex Medical Group plc
Tel: +44 (0)1243 523152
Fax: +44 (0)1243 532534
Queries concerning shareholdings in Deltex Medical Group plc, such as the loss of share certificate, dividend payments or change of address, should be directed, in the first instance, to the registrar:
34 Beckenham Road
Tel: 08701 623100 (within the UK)
Calls cost 10p a minute plus network extras, lines are open 8.30am-5.30pm Mon-Fri
Tel: +44 (0)20 8639 2157
Fax: +44 (0)20 8639 2342
Annual & Interim Reports
- 2017 Interim Report
- 2016 Annual Report and Presentation
- 2016 Interim Report and Presentation
- 2015 Annual Report and Presentation
- 2015 Interim Report and Presentation
- 2014 Annual Report and Presentation