Deltex Medical Group PLC Change of Auditor (5124I)

TIDMDEMG

RNS Number : 5124I

Deltex Medical Group PLC

26 November 2018

26 November 2018

Deltex Medical Group plc

("Deltex Medical" or the "Group")

Change of Auditor

Deltex Medical Group plc (AIM: DEMG), the global leader in Oesophageal Doppler Monitoring ("ODM"), announces that, following the conclusion of a formal tender process overseen by the Group's Audit Committee, the Group's Board has appointed Nexia Smith & Williamson Audit Limited (Nexia Smith & Williamson) as the Group's independent auditor for the financial year ending 31 December 2018 from today's date. The appointment of Nexia Smith & Williamson as independent auditor for the financial year ending 31 December 2019 will be subject to approval by the Group's shareholders at the next Annual General Meeting to be held in 2019.

PricewaterhouseCoopers LLP (PwC), who did not participate in the tender, has confirmed that there are no circumstances connected with its resignation which it considers should be brought to the attention of members or creditors of the Group.

The Group records its appreciation of the services of PwC as auditor over many years.

For further information, please contact:-

 
 Deltex Medical Group plc         01243 774 837 
                                   [e-mail] 
 Nigel Keen, Chairman 
 Andy Mears, Chief Executive 
 Jonathan Shaw, Group Finance 
  Director 
 
 Nominated Adviser & Broker 
 Arden Partners plc               020 7614 5900 
 Ciaran Walsh 
 
 Joint Broker 
 Turner Pope Investments (TPI)    0203 621 4120 
  Ltd                              [e-mail] 
 Andy Thacker 
 

Notes for Editors

Deltex Medical manufactures and markets haemodynamic monitoring technologies. Deltex Medical's proprietary oesophageal doppler monitoring ("ODM") (TrueVue Doppler) 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 such changes in 'real time'. Deltex Medical has been the only group in the enhanced haemodynamic space to build a robust and credible evidence base proving the clinical and economic benefits of its core technology, TrueVue Doppler, which has been demonstrated to reduce complications suffered by patients after surgery and 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 creates an electrical field across the chest and measures the disruption to this field 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 high risk 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.

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November 26, 2018 08:08 ET (13:08 GMT)