11th Mar 2014 11:55
LONDON (Alliance News) - Deltex Medical Group PLC Tuesday posted an unchanged pretax loss for 2013, despite a rise in revenue rose driven by sales of its surgical probes.
Deltex posted a pretax loss of GBP2.22 million, roughly flat from a pretax loss of GBP2.20 million in 2012, as revenue rose to GBP7.2 million, up from GBP6.8 million in the previous year.
Deltex primarily produces oesophageal Dopple monitoring systems, which are used to measure blood flow during surgery by generating a low-frequency ultrasound signal, and utilising the Doppler effect.
The Doppler effect, discovered by Austrian physicist Christian Doppler, is the change in frequency of a wave for an observer moving relative to its source, such as the way in which the noise of a siren changes when it passes by.
Revenue growth was primarily driven by higher revenue from surgical probes, which rose to GBP5.5 million from GBP4.5 million in the previous year, offsetting declines in the sale of monitors and the absence of clinical research income in 2013.
The company's aim is to make oesophageal Doppler monitoring a standard of care for patients in the surgical and critical care markets; it currently has distribution arrangements in place in over 30 countries.
The company said that further territories are moving towards the market development stage, including the US which had progressed "significantly" further than it had anticipated at the start of 2013.
"Profits from these growing operations will allow us to build the business more quickly in the years to come delivering sustainable value for our shareholders," said Chairman Nigel Keen in a statement Tuesday.
In a separate statement Deltex said Tuesday that it as launched a new training aide, an oesophageal Doppler patient simulator.
The new simulator is housed in a mannequin of the upper half of the body and allows probe insertion through either mouth or nose and correct identification of aortic blood flow. It is compatible with Deltex's CardoQ-ODM and CardioQ-ODM+ monitors, the latter incorporating an arterial pressure signal.
The company is manufacturing 50 simulators in the initial production run, all of which have been allocated for deployment. Orders have been placed for parts for a second batch of 50.
Shares in Deltex were trading up 6.6% at 14.52 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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