Sphere Medical Holding plc Sphere Medical achieves CE marking for Proxima 4 (2748L)

TIDMSPHR

RNS Number : 2748L

Sphere Medical Holding plc

30 September 2016

30 September 2016

Sphere Medical Holding plc

("Sphere Medical" or the "Company")

Sphere Medical achieves CE marking for Proxima 4

Preparation for commercial launch in Europe well underway

Sphere Medical Holding plc (AIM: SPHR.L), an innovative point-of-care monitoring and diagnostic devices company, is today pleased to announce that all four components of its Proxima 4 device have received CE mark registration, enabling market launch in Europe.

Proxima 4 is the new generation of Sphere's innovative patient-connected device used for measuring blood gases, electrolytes and metabolites. It incorporates a number of significant enhancements over the currently available product, Proxima 3. Based on market demand and usability studies, these include the addition of glucose and sodium to the panel of analytes, and a number of important usability improvements.

The Company is continuing with preparations for the European commercial launch of Proxima 4, including readying the supply chain, and it remains on track to achieve the launch later this year.

Wolfgang Rencken, the Company's Chief Executive Officer, commented: "With the CE-marking of Proxima 4 we have achieved one of our strategic goals for 2016. This will mean that the benefits of Proxima will be available to a much larger group of patients. We now look forward to its commercial launch later this year and building sales momentum."

Professor Mike Grocott, consultant in Critical Care Medicine at the University Hospital Southampton, commented: "The recent time and motion study we conducted at University Hospital Southampton clearly highlighted the workflow benefits of using Proxima on critically ill, unstable patients. We look forward to the launch of Proxima 4 and the opportunity to use this device on a larger patient group within the ICU."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

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For further information, please contact:

 
Sphere Medical Holding                     Tel: [phone] 
 plc                                                        222 
Dr Wolfgang Rencken, Chief 
 Executive Officer 
Richard Wright, Chief 
 Financial Officer 
 
Panmure Gordon                             Tel: [phone] 
                                                           2500 
Freddy Crossley (Corporate 
 Finance) 
Duncan Monteith (Corporate 
 Finance) 
Tom Salvesen (Corporate 
 Broking) 
 
Consilium Strategic                        Tel: [phone] 
 Communications                                            5700 
Mary-Jane Elliott             [e-mail] 
Chris Gardner 
Ivar Milligan 
Hendrik Thys 
 
 

Notes for Editors

About Sphere Medical (AIM: SPHR.L)

Sphere Medical is an innovative point-of-care medical device company. Its Proxima platform measures blood gases, electrolytes and metabolites at the patient's bedside and aims to improve patient care and reduce health system costs. The device is currently sold directly to the critical care market via Sphere Medical's sales force in the UK, Germany, The Netherlands and Belgium. For further information, please visit www.spheremedical.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 30, 2016 02:02 ET (06:02 GMT)