Deltex shares soar 30% after NICE report

4th Oct 2010 16:52

Deltex shares soared 30% today after a positive report on its CardioQ-ODM product.Deltex, the global leader in oesophageal Doppler monitoring, has received draft guidance from the National Institute for Health and Clinical Excellence (NICE). The CardioQ-ODM system changes the way doctors care for surgical patients, and comprises a monitor and a single patient disposable probe. The product monitors and immediately identifies small changes in the blood flow velocity through the aorta, allowing doctors to intervene earlier in complications.The NICE report has revealed that this system would save patients undergoing invasive cardiac monitoring in post-operative complications, use of central venous catheters an would likely decrease the in-hospital length of stay. On average, when CardioQ-ODM replaces central venous catheter insertion, the cost saving per patient is estimated at £1,062.Ewan Phillips, Deltex's chief executive commented that "NICE's draft guidance is a huge endorsement for CardioQ-ODM."There are already over 2000 CardioQ-ODMs currently in use in hospitals worldwide and distribution arrangement are in place in over 30 countries. NICE intends to develop implementation tools to support NHS hospitals to put the guidance into practice.During the first six months of 2010, Deltex almost halved its pre-tax loss to £0.66m from £1.2m last year, and sales jumped 13% to £2.9m.