Deltex Medical Group plc provided an update on its new monitor and announced that it intends to launch the product in June 2023. The Group's technical department has conducted a detailed review of the small number of outstanding items that need to be addressed in order to complete the new monitor's regulatory technical file. Based on this review, the technical file, as well as other related regulatory submissions, are expected to be finalised by the end of May 2023.

This will enable the Group to start the first production run of the new monitor in June, with shipments anticipated at the end of that month. In order to capitalise on market interest in, and anticipated demand for, the new monitor, Deltex Medical wishes to accelerate the placement of orders for components required for the initial, and subsequent, production runs for the new monitor. Accordingly, the Board has entered into an agreement with Imperialise Limited, a company controlled by Mr. Nigel Keen, Chairman of Deltex Medical and the Group's largest shareholder, for a bridging loan of PS0.25 million to fund the additional working capital.

The Board is satisfied that the Group has sufficient working capital for the foreseeable future based on its budget for the year, but this new bridging loan will allow the Group to enter into additional commitments with its supply chain to accelerate the build of new monitors in anticipation of demand, as well as investing in marketing programmes around the launch of the new product. The loan is unsecured, carries an interest rate of 12% per annum and has a minimum term of three months, after which time Imperialise Limited can demand its repayment at any time. Deltex Medical has invested over the long term to build a unique body of peer-reviewed, published evidence from a substantial number of trials carried out around the world.