Results of open offer

29 April 2015

Sphere Medical Holding plc

Result of Open Offer

Cambridge, UK, 29 April 2015: Sphere Medical Holding plc (AIM: SPHR.L), ("Sphere Medical" or the "Company") a leading provider of innovative monitoring and diagnostic devices for the critical care setting, announced on 13 April 2015 details of the Company's proposed fundraising through a Placing and Open Offer at 16 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 28 April 2015. The Company announces that at that time that it had received valid acceptances in respect of 7,352,582 Open Offer Shares from Qualifying Shareholders with a value of some £1,176,413. This represents approximately 99% of the 7,425,661 Open Offer Shares offered. As a consequence, the Company has conditionally raised £13.2 million (before expenses) through the Placing and Open Offer.

The Placing and Open Offer are all subject to the approval of Shareholders at a General Meeting to be held at 10.00 a.m. on 30 April 2015.

Application has been made to AIM, a market of the London Stock Exchange plc, for the admission of 82,352,582 New Ordinary Shares to be issued pursuant to the Placing and Open Offer. It is expected that Admission will become effective on 1 May 2015. Following Admission, the Company will have 141,757,872 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. Wolfgang Rencken, Chief Executive Officer of Sphere Medical, said:

"We are very appreciative of the continued support from a significant number of our long-term shareholders that have taken part in this Open Offer. The proceeds from the fundraising will further strengthen the Company's balance sheet as we accelerate the commercialisation of Proxima in Europe."

Unless otherwise defined, terms in this announcement shall have the same meanings as those defined in the shareholder circular dated 13 April 2015.

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Notes for Editors

About Sphere Medical (AIM: SPHR.L)

Sphere Medical is a medical device company developing and commercialising a range of innovative monitoring and diagnostic devices designed to significantly improve patient care.

Sphere Medical's vision is to become a leading solution provider to the critical care market offering innovative, near real time, point of care diagnostic and monitoring products to enable closer control of therapeutic response and improve patient outcomes and reduce the overall cost of care.

The Company's strategy is focused on developing the Proxima (CE marked device) platform for measuring blood gases, electrolytes and metabolites. The Company is already marketing its Proxima product directly to the critical care market, which includes the ICU and OR, with a dedicated field sales force in the UK. Sphere Medical has plans to follow in Germany and Benelux via a direct sales force in Europe and proposes to work with partners for worldwide distribution.

Proxima delivers near real time analysis of blood gases and electrolytes metabolites, at the patient's bedside. Proxima can be used on patients across a wide therapeutic range, enabling faster clinical decision making and improved patient outcomes, whilst potentially reducing costs for healthcare payers.

Sphere Medical entered into a collaboration agreement with Ortho Clinical Diagnostics, Inc. in 2013 for the development of Proxima and enhancement of the Company's operational and production capabilities.

Sphere Medical has a number of partnerships with industry leading medical device companies and has received a strategic investment from Ortho Clinical Diagnostics (now part of Carlyle Group).

For further information, please visit www.spheremedical.com