Sphere Medical : Interim Results Report Posted to Shareholders

Sphere Medical Holding plc



1 October 2014

Sphere Medical Holding plc

Interim Results Report Posted to Shareholders

Cambridge, UK, 1 October 2014 : Sphere Medical Holding plc (AIM: SPHR.L), a leading provider of innovative monitoring and diagnostic devices for the critical care setting, today announces that its interim results report for the six months ended 30 June 2014 has been posted to shareholders.

For further information, please contact:

Sphere Medical Holding plc Dr Wolfgang Rencken, Chief Executive Officer Matthew Hall, Chief Financial Officer			Tel: [phone]
Peel Hunt LLP James Steel Clare Terlouw Jock Maxwell Macdonald		Tel: [phone]
finnCap Geoff Nash / Simon Hicks Stephen Norcross		Tel: [phone]
Consilium Strategic Communications Mary-Jane Elliott Amber Bielecka Matthew Neal Ivar Milligan		Tel: [phone] [e-mail]

Notes for Editors

About Proxima

CE marked and specifically designed for critical care environments, the Proxima System incorporates a dedicated bedside monitor and the Proxima Sensor that is integrated into a patient's arterial line. This enables blood to be measured directly at the point of care without need to leave the patient or manipulate samples and cartridges which can all add to the workload of front line care staff. Measured to laboratory analyser accuracy, results are rapidly displayed on the bedside monitor and can be electronically transferred for permanent record.

Simple to use, the in-line Proxima System enables closed blood sampling and is operated via the touch screen interface of its bedside monitor. When a blood gas analysis is required, blood is withdrawn from the patient directly into the Proxima Sensor without the need to open the line, take a sample and walk away from the patient for analysis. Once analysis is completed, all blood is returned to the patient, thereby ensuring blood conservation and reducing the possibility of hospital acquired anaemia and subsequent transfusions.

A Proxima Sensor is a disposable transducer which can be used for monitoring blood gases and electrolytes over a 72 hour period as many times as required.  The system also carries out all quality control checks that would be undertaken on a traditional blood gas analyser to ensure validity of test results. It also includes a facility to be challenged with liquid controls.

About Sphere Medical (AIM: SPHR.L)

Sphere Medical is a medical device company developing 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.

Sphere Medical's strategy is focused on developing the Proxima platform for measuring blood gases, electrolytes and metabolites and partnering on the development of the Pelorus platform for measuring drug levels in blood.

The Company plans to sell its products directly to the critical care market, which includes the ICU and OR, with dedicated field sales forces in the UK, Germany and Benelux, and work with partners for worldwide distribution.

Sphere Medical's products deliver near real time analysis of blood gases, electrolytes and drug levels with laboratory accuracy, at the patient's bedside.  Sphere Medical's products can be used in a wide range of medical applications, enabling faster clinical decision making and improved patient outcomes, whilst 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 Sphere'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).  Other significant investors include Life Sciences Partners (LSP Life Sciences Fund).

This information is provided by RNS

The company news service from the London Stock Exchange

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