Sphere Medical Holding plc Sphere Medical launches Proxima 4 (7731R)

TIDMSPHR

RNS Number : 7731R

Sphere Medical Holding plc

14 December 2016

14 December 2016

Sphere Medical Holding plc

("Sphere", "Sphere Medical" or the "Company")

Sphere Medical launches next generation analyser, Proxima 4

Sphere Medical Holding plc (AIM: SPHR.L), an innovative point-of-care monitoring and diagnostic devices company, announces the launch today of Proxima 4 in Europe. The launch of the next generation product Proxima 4 follows the successful European launch of Proxima 3 in September 2014.

Proxima 4, which gained CE Mark approval in September 2016, is the new iteration of Sphere's already marketed innovative patient-connected device used for measuring blood gases, electrolytes and metabolites. It incorporates a number of significant enhancements over the previously available product, Proxima 3, including expansion of the panel of analytes and a number of important usability improvements.

The expanded panel of analytes enables Proxima to be used with additional groups of patients, including those requiring glycaemic control and those undergoing cardiac surgery. Developments with Proxima 4 also extend its use to include paediatric patients weighing greater than 15 kilograms. As a result of these changes, the target population of potential patients is estimated to increase four fold to almost 50% of patients in intensive care units.

Proxima 4 will be marketed directly by Sphere's own sales force in the UK, Germany, The Netherlands and Belgium and Sphere plans to market Proxima 4 through distributors in other countries. Burke & Burke, appointed in July 2016 to market Proxima in Italy, will now commence marketing Proxima 4. Sphere Medical is aiming to put in place more distributorships in other European markets over the coming months.

Wolfgang Rencken, the Company's Chief Executive Officer, commented: "The European launch of Proxima 4, one of our strategic objectives for 2016, is an important milestone for the Company on the route to making the Company commercially successful. We look forward to updating the market during 2017 on progress with the marketing of Proxima 4, and on progress with further updates and enhancements to the system."

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] 
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 and will be sold via a distributor in Italy. 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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December 14, 2016 02:00 ET (07:00 GMT)