Hi all
pretty new to all this. I have pumped some into Deltex - looks like a strong product with good growth. Could be a steady gainer.
Does anyone else have this, and anyone have some research on it? Someone with more experience than me!
thanks in advance.
Grajul

From the RNS released 23 October 2012.
NHS South plan to implement ODM.

150 patients per 100,000 in February and March 2013.
200 patients per 100,000 in the NHS financial year starting 1 April 2013.

With the above added to the NHS requirements for Fluid Management , surelly sales to NHS trusts or at least to NHS South should have increased in the last few months, weeks.
If they have to any significant number then we should be informed as such sales would be sp effecting, especially as the lack of news is having such a negative effect of late.
So I can only conclude that little is happening.

Yes I know that patience is required but just how much longer for this trickle effect to gather momentum.

Share Price in Oct 2012 at time of NHS South Plan ....24p.
SP Nov 2012.... 27p.
SP today a lowly.... 17.50p.

Questions need asking and answering.

We all know the NHS budget is 'ring fenced' and I don't expect todays budget to change that, but I also feel that the NHS slice of the pie will not increase, therefore with increase costs and the effect of inflation, it will put more pressure on the NHS to save some of the zillions of pounds that they waste every year.

I have an idea, a small contribution to savings could easily be made by instructing all NHS Trusts to take up the CardioQ.

Of course we all know that such instructions, albeit, weak instructions without the fear of those promised penalties have already been issued, but I am hoping that pussy footing around with a stick that has about as much effect as a piece of 'wet celery' (that term is for Allo, Allo fans, remember the sexy Yvette) will finally be more forceful.

Probably a forlorn hope!

Sales up (always good) 7.5% to £6.8m.

My question is, are sales rising fast enough?

Margins are also up in main markets but operating loss increased by £0.7 mill due to launching of sales to new distributors, and although £2.5 mill was raised in new equity in Jan, with a cash position at year end of £0.7 mill, allowing for no change since, cash postion at best is £3.2 mill, so with a cash burn slowing by a minute amount of £0.7 mill, it does make one wonder when we are going to see a profitl.

It's only current developements that are keeping me in (jam tomorrow).

Major market development project established in USA with Premier Inc

Implement ODM & enhanced recovery in up to five hospitals

Disseminate implementation programme to >50% of US hospitals within two years

Working with NHS hospitals which plan to increase CardioQ-ODM usage significantly

Implementation of NICE guidance on CardioQ-ODM

Introduce dedicated trainer model into UK super-users

Installed base of new CardioQ-ODM+ over 150 and growing

Surgical probe sales growth in early 2013 in all direct markets

But with 2,800 CardioQ-ODM systems in use in hospitals worldwide, surely by now the profit margins should be sufficient to be making the company more money than at present, so it is only me that wonders just how/when Deltex will be in profit.

So, I will stay invested (only a token amount left anyway) for a few more months to see it the proposed turn around comes to fruition.

Will be interesting to see if the results effect the sp today.

Single biggest day drop for ages.

Come on Deltex, show us some decent new contract figures before the sp sinks even lower.

It goes to show how the market is looking at Deltex and yesterdays results, yes the company is growing but most like myself obviously feel that it is not growing quick enough.

As most on here know, I have been in Deltex almost from conception (the companies not mine, although sometimes it feels that long), and we are in a position today where most of us thought we would be about 3 years ago.

The hare and the tortoise fable springs to mind, the problem being that at 65, at the speed this tortoise is going I am wondering who will get to the finish line first, me or the tortoise!

Overhyped POS imho , get out and buy something decent.

Good luck.

Todays RNS.

On looking at the RNS heading I was very disappointed because my first thoughts were, here we go again, another none contract bit of news.

But on starting to read the contents my optimism very quickly went straight upward.

What a great boost for Deltex.

Whilst our NHS Trusts have been sitting at their desks sucking their proverbial thumbs in an effort to make any sort of a decision regarding the CardioQ, the USA have taken the leap of faith that our pathetic decision makers have been procrastinating for far too long.

At a reimbursement of $101 for every use of a probe they are obviously putting each use as a monetary value higher than the reimbursement figure.

As Ewan Phillips states The USA is by far the world's largest potential market for our products, so with that in mind I would presume that the main concentration is now targeted in the USA and other none UK markets.

If the NHS now finds itself at the bottom of the supply list they have only themselves to blame as its yet another expample of 'made/invented in the UK' being advantaged by none UK countries.

I still feel that with a more aggressive management we could have been in this position earlier, but that is just my view as for all I know the management have been pushing as much as possible so I won't be pushing that line again unless I see indications that back my beliefs up.

I just hope the media grab hold of this, both for the positive effect on Deltex and the negative effect on NHS Trusts.
A list of NHS Trusts that have and have not adopted the CardioQ for use in their trust areas.

Todays RNS must surely push the sp up around the 18 to 20p range and if it results in a steady stream of similar good news in the following months, the sp could/should easily justify an sp of 30p plus by end of the year.

I have no hesitation in saying, 'A very well done to the Deltex Team'.

Can't believe that the sp has hardly moved.
It just goes to show that when confidence falls and apathy sets in it takes more that a bit of dynamite to move something from a norm.

Lets just hope the big boys that are already in increase their holdings and those who are watching and waiting feel that now is the time to get on board.

I think there is so little stock held by PI's that they can have a far less effect on the sp that they would have had say 2 to 3 years ago, athough even then the influence would not have been much more.

Deltex Medical Group (LON:DEMG) has had a significant breakthrough in the US that should encourage physicians to use the company’s oesophageal Doppler monitoring (ODM) system.

The US Centres for Medicare and Medicaid Services (CMS) has granted ODM its own unique code for physician reimbursement.

The code means that any doctor using ODM on a CMS patient will get paid within weeks under an automated payment system. Previously it has taken two to three years before a physician starts to be paid consistently, the statement from Deltex revealed.

In addition, CMS has set a standard amount of US$101 that it will reimburse US doctors for each use of an ODM probe in either surgery for patients requiring intra-operative fluid optimisation or for ventilated patients in intensive care.

Cracking the US market would be very lucrative for Deltex and the decision by CMS is a major step towards achieving that goal. Where established locally at adequate levels of US$80 per patient or higher, physician reimbursement has been associated with achieving the company's best levels of growth in the US, Deltex said.

"This is a very significant development for Deltex Medical. The USA is by far the world's largest potential market for our products,” declared Ewan Phillips, Deltex’s chief executive.

“The establishment of routine and meaningful payment of physicians for using ODM secures a cornerstone of our strategy to create widespread demand for our products in the USA. In the short term we also expect to see increased demand for evaluating our products," he added.

http://www.proactiveinvestors.co.uk/companies/news/55642/deltex-medical-group-makes-medicaid-breakthrough-in-us-55642.html

Todays news should result in a huge increase in sales in the USA at least.

From todays AGM.

It will be stated that, 'To date we have seen considerable variation in NHS Trusts' awareness of the new requirements '.

Unbelievable that some NHS Trusts are still unaware of such an important issue as the national drive by the National Health Service ('NHS') to implement intra-operative fluid management.

I would have thought that these trusts would have received stacks of bumf from such a bureaucratic body as the NHS, so 3 questions have to be asked.

1 If the mangers of these trusts are not aware, why not.

2 What the hell are these overpaid jobworthies being paid for if they are not aware of what should be such a basic part of their jobs.

3 What is the NHS doing about it.

I can guess the answer to number 3, absolutelly zilch.

My previous comment re carrot and no stick policy is obviously correct.

So far trades look very good, especially comparing the usual daily volume.

It looks like the market is taking todays RNS as more positive than I am, as I looked at the RNS as only slightly posative.
Lets hope the sp starts to gather some momentum and sustains same!

I will not be monitoring this thread for 14 days as I am walking the Coast to Coast for charity(210 miles with detours) but as a realist tending toward optomisim I expect on return to see an RNS re contracts.

But I also expect 2 weeks without rain, (what in Cumbria)so make of both expectations as you will!

RNS

New clinical guidelines for anaesthetists issued for fluid management in France

I like this bit,
All of these recommendations are graded in the highest category '1+', meaning that SFAR members are expected to comply because the evidence level is high, and that future evidence is unlikely to change the conclusions from the current evidence.

As the same conclusion has been reached in the UK with no noticeable change in take up since, I can only hope that the French are more likely to enforce these measures, than our pussy footing lot are (I am sure they will).

Although the CardioQ is not mentioned as the proffered option, this could be a far better RNS than the similar one released a few months ago regarding UK Hospitals.

I doubt that it will have much effect on the sp, until contracts are signed because of all the false dawns we have seen.

Something happening,

With volume up today with the offer leading the bid upward, it looks like most of those unknown trades are buys, especially with the spread narrowing.

Something in the wind, or just me looking for activity from an almost comatose order book!

Patience again wearing a bit thin.

Something happening, doesn't look like it, as yet another day dawns without a RNS.

It's about time we at least got an update patient report, IE is the patient improving, condition static or is everyone just sitting around praying that someone else will do something.

I appreciate it's only a couple of months since the NHS in England announced its selection of ODM as a high impact innovation to be rolled out across the system fully, at pace and scale with significant financial penalties starting in the NHS 2013/14 financial year ending 31 March 2014, but it's now over a year since the system was recommended by NICE for full take up.

I would like to know just how many NHS Trusts have aproached Deltex in order to get their orders in to aviod paying these so called financial penalties.

With the NHS taking even more stick re patient care (sic) there has never been a better time to ask the question.....'Why are the NHS Trusts not rushing to use a system that saves lives, money and time'.

A simple question, I would love to see the answer (for answer read excuse).

This could be a carbon copy of the same study re colorectal surgery that was carried out months ago.

Went home 2.4 days (29%) sooner (6 days rather than 8.4 days)
Incurred $3,640 (16%) lower hospital costs ($19,344 v $22,984)
56% reduction in readmissions within 30 days from 20.2% to 8.8%

But just look at these numbers........Premier Inc's Breakthroughs conference in San Antonio, Texas was attended by circa 4,000 clinical and management staff from Premier's membership, which includes around half the hospitals in the USA.

As these hospials are members of Premier Inc, surely it will follow that take up is a done deal.

But then you read (Ewan Williams),

"In the shorter term we expect these highly positive results to expedite selection of suitable sites to participate in the next phase of our collaboration with Premier as well as supporting our engagement with other US hospitals". Note The next phase!

So although this RNS is very good news and should up the sp to at least the 20p mark, the market is of a 'not another successful trial attitude'.

It makes one wonder when the CardioQ will actually become a regular piece of medical technology instead of a merry go round of trials/tests.

I would have liked to have seen an adition of, 'We also expect some of these hospitals to place orders on the evidence seen in these trials which have yet again proven that the CardioQ is the ODM that can save money, time and LIVES'.

Still will hold as I now expect profit on my investment, but not for at least 12 more slow, slow, drip, drip months.

Is nt the issue not whether it works, but to change the mindset of hospital administrators... they see any extra-kit as a cost.
Strangely though Administrators see the need for Electricity and Air Con - and these are costs, but perhaps these have been with us so long it's ignored.

However CardioQ is another cost and Administrators need to see a positive PROFIT in buying them; until they are all of the same mind, the Trials will continue.

I'm not sure if the cost has been reduced, such that as quantities increase the unit-price comes down, but I understand the Machines (display) are now leased cheaply so the Hospital pays in the longer-term. Whilst this might seem attractive, it's still a Cost-added and Administrators may wish to reduce costs by targeting "difficult patients"
- The newer CardioQ also includes other checks, so it's becoming an "Essential" piece of kit - and in the US, anything that can stop an operation "going wrong" is bound to have Insurance issues as well.

I suspect, therefore the slow Newsflow is not exciting the Stock Market and this remains a fundamental issue . . . the shares have been dragging for so long, few expect any changes soon.

Hi Hangon,

With the now 80 plus positive trials/tests surely there is sufficient evidence that the CardioQ saves money, which to my synical mind is the main benifit that the purse string holders put before the saving of life.

Your mention re 'in the US, anything that can stop an operation "going wrong" is bound to have Insurance issues as well' is a very good point, IE a money issue again.


The term, 'No Brainer' has been used regarding the CardioQ many times, but for the life of me, I can't think of a more apt statement!

In todays sea of red, I am just glad to see Deltex level

Todays RNS.

Deltex has completed its submission to the US Food & Drug Administration ('FDA') in respect of the CardioQ-ODM+ and therefore anticipates regulatory approval to launch this device in the USA in the second half of 2013.

From a RNS on 10/04/13.

US Govt body grants unique payment code for ODM

Now we know why the RNS on 10/04/13 had this section mentioned, "In the short term we also expect to see increased demand for evaluating our products."

So its now clear to me why they could only have the CardioQ in the USA for valuation as they did not have the FDA approval.

I have 2 questions.

1 Why didn't Deltex issue papers earlier as surelly there was suficient evdence (my answer would be that like most such bodies, the FDA would want every T crossed and I dotted several times over) so not blaming Deltex there.

2 I would think most people thought that approval had already been granted (how naive we were) as it was not mentioned in the RNS of 10/04/13) which would have been easy to do, IE we are now readying papers to the FDA and expect forwarding these papers etc, etc.

So todays RNS is again very good news, as approval is a forgone conclusion, but I was expecting it to say that contracts had been signed.

I have to accept though that we are still ploding along the obstacle course of bureaucracy.

Will this RNS effect the sp. I doubt it very much!