Company Announcements

2 August 2023

Deltex Medical Group plc

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

Completion of £1.89M Fundraising and Capital Reorganisation, Director shareholdings

and change to total voting rights

The Board of Deltex Medical Group (AIM: DEMG) is pleased to announce the completion of the Fundraising and Capital Reorganisation, as announced by the Company on 14 July 2023. As a result, trading in the Company's ordinary shares of 0.01 pence each ("Ordinary Shares") has now resumed on AIM.

With the completion of the Fundraising and Loan Conversion, the Group has strengthened its balance sheet and been provided with the capital to implement its updated strategy, focusing on recurring revenues and the promotion of its new monitor, as well as to complete the development of its non-invasive Suprasternal device. In anticipation of customer demand, the Company continues with production of the new next generation TrueVue monitors at the Company's headquarters in Chichester.

The proceeds of the Fundraising also provide the Group with funds to implement its cost-cutting and Group restructuring plan, as set out on 14 July 2023, which is already underway.

Andy Mears, CEO of Deltex Medical, said:

"We are pleased to announce the completion of the Fundraise and the Capital Reorganisation. With a strengthened balance sheet, the Board and management can now concentrate on driving the business forward and delivering growth.

Director and significant shareholdings

Further to the announcement on 14 July 2023 and with the completion of the Fundraising, the shareholdings of the Directors and their closely associated persons (as defined in UK MAR) are now as follows:

* held by Imperialise Limited

Total voting rights

The Company's issued ordinary share capital as at the date of this announcement comprises of 1,846,653,348 ordinary shares of 0.01p each. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company is 1,846,653,348.

This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Terms used but not defined in this announcement have the same meaning as set out in the Company's

announcement released at 18:01 on 14 July 2023.

Enquiries: 

For further information, please contact:

ABOUT DELTEX MEDICAL'S TECHNOLOGY

Deltex Medical's TrueVue System uses proprietary haemodynamic monitoring technology to assist clinicians to improve outcomes for patients as well as increase throughput and capacity for hospitals. Deltex Medical's haemodynamic monitoring technologies provide clinicians with beat-to-beat real-time information on a patient's circulating blood volume and heart function. This information is critical to enable clinicians to optimise both fluid and drug delivery to patients.

Deltex Medical has invested over the long term to build a unique body of peer-reviewed, published evidence from a substantial number of trials carried out around the world. These studies demonstrate statistically significant improvements in clinical outcomes providing benefits both to patients and to the hospital systems by increasing patient throughput and expanding hospital capacity.

The Group's flagship, world-leading, ultrasound-based oesophageal Doppler monitoring ("ODM") is supported by 24 randomised control trials conducted on anaesthetised patients. As a result, the primary application for ODM is focussed on guiding therapy for patients undergoing elective surgery. The Group's new, next generation monitor makes the use of the ODM technology more intuitive and provides augmented data on the status of each patient.

Deltex Medical's engineers and scientists carried out successful research in conjunction with the UK's National Physical Laboratory ("NPL"), which has enabled the Group's 'gold standard' ODM technology to be extended and developed so that it can be used completely non-invasively. This will significantly expand the application of Deltex Medical's technology to non-sedated patients. This new technological enhancement in development, which will be released on the new next generation monitor, will substantially increase the addressable market for the Group's haemodynamic monitoring technologies and is complementary to the long-established ODM evidence base.

Deltex Medical's new non-invasive technology has potential applications for use in a number of healthcare settings, including:

§ Accident & Emergency for the rapid triage of patients, including the detection and diagnosis of sepsis;

§ in general wards to help facilitate a real-time, data-driven treatment regime for patients whose condition might deteriorate rapidly; and

§ in critical care units to allow regular monitoring of patients post-surgery who are no longer sedated or intubated.

One of the key opportunities for the Group is positioning this new, non-invasive technology for use throughout the hospital.

Deltex Medical's business model is to drive the recurring revenues associated with the sale of single-use disposable ODM probes which are used in the TrueVue System and to complement these revenues with a new incremental revenue stream to be derived from the Group's new non-invasive technology.  Both the existing single-use ODM probe and the new, non-invasive device will connect to the same, next generation monitor recently launched.

Deltex Medical's customers

The principal users of Deltex Medical's products are currently anaesthetists working in a hospital's operating theatre and intensivists working in ICUs. This customer profile will change as the Group's new non-invasive technology is adopted by the market. In the UK the Group sells directly to the NHS. In the USA the Group sells directly to a range of hospital systems. The Group also sells through distributors in more than 40 countries in the European Union, Asia and the Americas.

Deltex Medical's objective

To see the adoption of Deltex Medical's next generation TrueVue System, comprising both minimally invasive and non-invasive technologies, as the standard of care in haemodynamic monitoring for all patients from new-born to adult, awake or anaesthetised, across all hospital settings globally.

For further information please go to www.deltexmedical.com