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North American Healthcare distribution

3rd Mar 2015 07:00

RNS Number : 3167G
Toumaz Limited
03 March 2015
 

3 March 2015

 

Toumaz Limited

 

North American Healthcare distribution

 

Toumaz Limited (AIM: TMZ, 'Toumaz', or the 'Group'), a pioneer in low-power, wireless semiconductor technologies for healthcare and consumer audio, has agreed with NantHealth LLC to terminate its North American distribution agreement for its SensiumVitals® wireless vital signs monitoring system. This change, instigated by the Group, will allow Toumaz to address the key US market in a substantially more focused manner.

 

The North American distribution rights for SensiumVitals® revert to Toumaz with immediate effect, in return for an undisclosed payment which will have a minimal impact on the Group's overall cash position. The region accounts for c.50% of the potential $1.5 billion global market for hospital-based wireless monitoring [1].

 

The Group will position a small business development team in the US to support existing customers, follow through on leads generated by NantHealth LLC, introduce SensiumVitals® to the larger hospital groups and evaluate Toumaz's options for an accelerated deployment in the US. The Group will provide a further update on its strategy later this year.

 

In Rest of World territories, interest in the system continues to build. SensiumVitals® has been deployed in hospitals in the UK, France, Italy, Germany, Portugal, and Australia - as well as the US.

 

A growing number of these deployments are moving from initial evaluation to full-scale integration with hospital IT systems. Worldwide, the Group has a qualified pipeline of 200 hospitals.

 

[1] Source OnWorld, Novasecta, company estimates

 

Anthony Sethill, CEO of Toumaz said:

 

"This is an important forward step for the Group. Our experience in both the US and Rest of World territories highlights the need for a fully focused business development team to manage the introduction of SensiumVitals®.

 

"Interest in the SensiumVitals® system is strong and, with our own dedicated business development team, we will be able to accelerate the rate of deployments in North America."

 

Enquiries:

 

Toumaz Limited

+44 (0)20 7391 0630

Anthony Sethill, Chief Executive Officer

 

Jonathan Apps, Chief Financial Officer

 

 

 

Peel Hunt LLP (Nominated Adviser and Broker)

+44 (0)20 7418 8900

Richard Kauffer/Daniel Harris

 

 

Instinctif Partners

+44 (0)20 7457 2020

Adrian Duffield/Chantal Woolcock

 

 

About Toumaz (www.toumaz.com)

Toumaz Limited is a pioneer in low-power, wireless semiconductor and software technologies for healthcare and consumer audio. The company has two divisions, Sensium Healthcare and Frontier Silicon. Sensium Healthcare develops wireless solutions for patient monitoring. Frontier Silicon provides chips, modules and software for digital audio devices.

This information is provided by RNS
The company news service from the London Stock Exchange
 
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