Result of Open Offer

Sphere Medical Holding plc

("Sphere Medical" or the "Company")

Result of Open Offer

Sphere Medical Holding plc (AIM: SPHR.L), a leading developer of innovative monitoring and diagnostic products for the critical care setting, announced on 28 June 2013 details of the Company's proposed Collaboration Agreement and associated fundraising through a Placing, Subscription and Open Offer at 40 pence per share.

The last time and date for receipt of completed application forms and payment in full under the Open Offer was 11.00 a.m. on 15 July 2013. The Company announces that at that time that it had received valid acceptances in respect of 1,577,966 Open Offer Shares from Qualifying Shareholders with a value of some £631,000. This represents approximately 15% of the 10,515,898 Open Offer Shares offered. As a consequence, the Company has conditionally raised some £8.5m (net of expenses) through the Placing, Subscription and Open Offer.

A further 1,300 New Ordinary Shares were subscribed for at 40 pence per share by certain Option Holders further details of which were set out on page 52 of the Company's shareholder circular dated 28 June 2013.

The Placing, Subscription and Open Offer, are all subject to the approval of Shareholders at a General Meeting to be held today at 10.00 a.m.

Application has been made to AIM, a market of the London Stock Exchange plc, for the admission of 22,403,016 New Ordinary Shares to be issued pursuant to the Placing, Subscription and Open Offer (and including the 1,300 New Ordinary Shares detailed above). It is expected that Admission will become effective on 17 July 2013. Following Admission, the Company will have 59,208,660 Ordinary Shares in issue.

The New Ordinary Shares, when issued and fully paid will rank equally in all respects with the Existing Ordinary Shares.

Commenting on today's announcement, Dr. Stuart Hendry, Chief Executive Officer of Sphere Medical, said:

"The Company is very appreciative of the continued support from a significant number of its long-term shareholders. The additional monies raised by way of the Open Offer will further strengthen the Company's balance sheet at this important time."

Unless otherwise defined, terms in this announcement shall have the same meanings as those defined in the shareholder circular dated 28 June 2013.

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About Sphere Medical

Sphere Medical (AIM: SPHR.L), is a medical device company developing a range of innovative monitoring and diagnostic devices designed to significantly improve patient care.

Sphere Medical's Proxima and Cardiopulmonary Bypass devices deliver real time analysis of blood gases, electrolytes, glucose and drug levels with laboratory accuracy, at the patient's bedside. Globally over 240 million blood gas and electrolyte tests are carried out on patients every year in critical care and there is an unmet need for monitoring products that are small, simple to use and cost effective with improved functionality. Sphere Medical's products can be used in a wide range of medical applications enabling faster clinical decision making and consequently improved patient outcomes, whilst also reducing costs for healthcare payers.

Sphere Medical is headquartered in Cambridge, UK and employs around 60 people. The Company has existing commercial partnerships with the leading global medical device companies. For further information, please visit www.spheremedical.com