Deltex Medical Group Rose 27% Yesterday Ahead Of Interims Launch On Monday
Following its notice of interim results, shares in rose by 27% (0.325 per share) yesterday afternoon in anticipation of the results, which will be announced next Monday 24th September.
Deltex is the global leader in its proprietary Oesophageal Doppler Monitoring (ODM) - the only technology to measure blood flow in central circulation in real time.
It is also the only group in the enhanced haemodynamic space, having built 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.
The group aims to provide clinicians with a single platform - called a "haemodynamic workstation" - that offers them a range of technologies.
This will enable the company to partner with healthcare providers to support modern haemodynamic management across the whole hospital.
Houser broker ED and Arden Partners have set target prices ranging between 8.72p and 10.2p.
Deltex Medical is currently in the implementing phase in the UK, USA, Canada and Spain, with distribution arrangements in place in a further 30 countries.
The group has seen a number of new accounts coming onboard in the US market, including a very major account after a rigorous and successful evaluation.
According to a statement by Chairman Nigel Keen, the group has made progress towards profitability and reduced overheads, having “put the Group on a significantly more secure financial footing” after raising £2.0m in additional capital and reducing cash costs by £1.0m.
After a wave of 2018 M&A activity in the biotech space, there is speculation the company could be a potential target - not surprising given its proprietary technology and new promising accounts lined up.
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