Deltex Medical Group PLC Directorate Change (8920O)

TIDMDEMG

RNS Number : 8920O

Deltex Medical Group PLC

07 October 2019

7(th) October 2019

Deltex Medical Group plc

("Deltex" or the "Company" or the "Group")

Directorate change

Deltex Medical Group plc (AIM: DEMG), the global leader in Oesophageal Doppler Monitoring, announces that Jonathan Shaw has resigned as Finance Director and as a Director of the Company with effect from 4(th) October 2019. Under the terms of his contract Mr Shaw's employment with the Group will end on or before 4(th) April 2020.

The Group has started a process to appoint a new Finance Director and has engaged the services of David Moorhouse, a former Finance Director of the Group, to oversee the financial function in the interim whilst a suitable new candidate is found for the permanent Finance Director role. Mr Moorhouse will also become Group Company Secretary.

Mr Shaw has been with Deltex since 2015 and during that time has participated in implementing the substantial changes that have brought the Group to its current position. With the Group now in a stable position Mr Shaw feels that it is an appropriate time for him to pursue his career in a new assignment.

Andy Mears, CEO of Deltex, said:

"Jonathan Shaw has helped me successfully implement the Group's new strategy by working with me to create a stable financial platform from which we can move forward. I would like to thank him for his contribution to Deltex and wish him every good fortune in his future career."

Nigel Keen, Chairman of Deltex, said:

"On behalf of the Board, I want to thank Jonathan Shaw for his work and dedication to Deltex over the last four years. During this time the Group has stabilised and now has a strong business and financial base from which it can move forward."

 
 Deltex Medical Group plc                01243 774 837 
                                          [e-mail] 
 Nigel Keen, Chairman 
 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 
                                          [e-mail] 
 Andy Thacker 
  Zoe Alexander 
 
 

This announcement contains Inside Information as defined under the Market Abuse Regulation (EU) No. 596/2014.

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 a vital 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 via agreements with approximately 40 distributors overseas.

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 [e-mail] or visit www.rns.com.

END

BOABLBDGXGGBGCS

(END) Dow Jones Newswires

October 07, 2019 02:00 ET (06:00 GMT)