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

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!

RNS

Yet again another trial that can only be described as excellent.
In fact looking at the results, it is hard to classify the CadioQ-ODM as anything short of a 'must have' for all hospitals.

So what happens now?

The sp goes up a few notches, then nothing is heard re orders and it starts to drift down again.

Yes it's great news, but all it does for me is pile more frustration onto the frustration already felt previously following the notification of 'yet another no brainer trial'.

The big question has to be, just what do the powers that be want to prove that if they purchase this system, everyone wins, the patient (most important), the hospital trusts and of course the companies share holders.

This share for a while now has been a hold, as it will eventually take off, I just hope I am still around to see it!

Trading Update.

What the..........................From the update, 'Monitor sales reduced by £0.5 million as a result of timing differences of research barter sales'.

As barter means....an exchange of goods for goods anyone understand what Deltex mean.

Presumably the timing difference re barter sales means, Delex hand over the monitors on the agreement that if they prove to be as trial results have shown, they then get paid.

If so, just how much more of this, softly softly aproach are we going to go through.

I have said many times, it about time to have some kick ass, shame the NHS Trusts policy via the media.

Only three more weeks to go till end of July which is when I said I will e-mail Ewan Phillips re his opinion on the media idea.

The below is an e-mail sent to Ewan Phillips today at 0706 hrs by myself on behalf of an investors group and his very full and prompt reply received at 1256 hrs.

Dear Sir,

I appreciate that the company is probably far more exasperated than it's share holders regarding the slow take up of the CardioQ by the NHS.

Although the CardioQ has the backing of over 60 trails/tests proving that the technology can save lives, save money and reduce suffering still the NHS procrastinates.

I have put the stress on the 'saving money' issue, because most of our group feel that saving money when it comes to the NHS is far more important than saving lives.

Has consideration been given to a more aggressive sales approach?

Perhaps a few leaked e-mails to the media could be considered, after all Her Majesties Government do this all the time.

These e-mails could be worded in such a way that could lead to exposure of the NHS in its approach to innovative systems that as said, save lives, money and suffering and may result in a Panorama or similar type program which could go some way into shaming the NHS into action .

Several years ago, you kindly replied to an e-mail from myself, and whilst I appreciate any reply would require restrictions of confidential and sensitive material, I look forward to your opinion of a more aggressive approach.

I stress that any reply would be considered for forwarding to other members of the investment group and therefore give my word that anything that was marked as not for 'repeating' would be redacted from any forwarding copy.

Like many PI's, our group have been invested in Deltex for many years, but have reached the stage where we feel that although Deltex have a 'no brainer' we fear that like many technology changing systems, the CardioQ may be left on the shelf of none take up in the market place.

Regards xxxxx.

Reply.


Dear xxxxxx

Thanks for your note.

Before getting into any detail, it is probably worth remembering that the CardioQ-ODM has almost definitely been the fastest growing broad application new medical technology across the NHS over the last decade and that Deltex Medical is the first company to have persuaded the NHS, the world's largest healthcare provider, to adopt its products fully, at pace and at scale (Innovation Health & Wealth, December 2011). We have achieved these things for many reasons including a good technology and support of clinical experts who really care about patient outcomes. We have also been extremely effective in both our public relations and public affairs work - it is very unusual for a small company to have shaped government policy to the extent that we have or to have the profile that we do within government: this follows a conscious decision back in 2005 to put our story 'into play' and has survived both a change in government and numerous re-shapings of the NHS.


That said, quite clearly the NHS has not done as promised and got on with implementing ODM either at pace or at scale: to my mind, as you suggest, this highlights major issues with the NHS rather than with Deltex Medical - the key judgments for us in the next few years will be to decide where we invest for growth as other markets catch up with the UK in terms of potential and clinical acceptance: prospects in Scandinavia, France, USA & Canada for example are all much more developed than a couple of years ago and all have better track records at technology adoption in healthcare. Our UK sales & marketing operation generated £1.3m or so in cash in 2012 and is continuing to grow - whatever happens with growth rates in the UK, I am very keen that continued sales growth generates incremental cash.

The other point to make is that such campaigns are not without risk: Panorama & the like write their own scripts and are not always on the side of industry; we also always have to be ultra careful of an endpoint that looks like hospital administrators telling doctors how to practice as interference with the independence of clinicians can cause huge damage regardless of the evidence. First choice in these areas is always to be broadly on the side of the system - the UK economy needs companies like Deltex to deliver better care to patents, save the NHS a fortune, create new high grade manufacturing and support jobs, create further wealth through export.

I do disagree with your suggestion that Deltex could be left on the shelf: the question in the UK is whether we will see stellar growth or longer lasting steady but still very attractive growth. We have a strong market leading position and have opportunities to repeat or exceed our UK success in a growing number of countries - to date nobody else trying to get into this new, enormous global market, comes close to matching our technology, evidence base, expertise in a number of areas, market positions, depth of penetration of key accounts etc.

I hope this helps answer some of your questions. I would be happy to expand on anything. Naturally we are doing lots of things that we would not want publicised until the right moment.

Kind regards
Ewan

I have sent the following e-mail to my local CCG.

I post the relavent section.

I wish for the following question to be answered at the next public meeting of the HullCCG.

What does the HullCCG know of their provider's (Hospital Trust's) plans for implementing IOFM in full and at pace and scale as per Innovation Health and Wealth, in accordance with the NICE recommendations and the methodology set out in the Intraoperative Fluid Management Technologies Adoption Pack, (commissioned by NHS England from the National Technology Adoption Centre. (NTAC,) now incorporated within NICE).

Nice have instructed all NHS Trusts to fully implement the CardioQ IOFM, due to this system having proven beyond doubt (over 80 test and trial papers) that it saves lives, suffering and MONEY.

I then added several links re the CardioQ and NICE.

I have just received the following reply.

Thank you for your email.

There currently isn’t any provision within CCG Board meetings for questions from members of the public, however, your enquiry has been passed to the Director of Commissioning & Partnerships for her consideration and response.

Once the reply has been received I will forward this to yourself.

Whilst I appreciate the reply and the mention that my question has been passed to the Director of Commssioning, my e-mail clearly states that I wish the question to be asked at the next CCG Public meeting.
Nowhere have I mentioned a CCG Board meeting.

It looks like the CCG are like most other department connected to the NHS.

'They just don't get anything right.

Note............I have sent a further e-mail correcting them.

I also suggest we all consider e-mailing our local CCG's, after all that can't be classed as 'too aggresive surely!

Todays RNS,

This means that doctors using ODM (in the USA) will be paid $101 in additional remuneration per CMS patient.

Thats quite a nice pay rise for doctors, so this has to have an effect on CardioQ use, but without further evidence of contracts, will this effect the sp.

Not a moan, just an observation!

I hope very much that I am wrong, but as Deltex have not put a RNS out of a contract of any sort since the final results last March I am looking to tomorrow with trepidation.

In fact when did they put a RNS out re a contract.

I appreciate we do not wish for a RNS for any minor increase in sales, but any decent SP effecting contract would have required a RNS.

I feel there will be the same steady as she goes, watching paint dry increases to sales and this is something we should be well passed at this stage of the Deltex's story.

I accept there have been the usual progress and trial result RNS's, but without decent sales they do not count for much.

No doubt there will be some posters looking at this post as de-ramping, but I would not have waited for the markets to close if that was my intention.

No matter what, unless the figures are 'very bad', which I doubt, I am now in for the long term as my holding is almost a token gesture so if the results are poor I won't suffer too much.

Not long now to prove me right or wrong!

Tick Tock, Tick Tock,

It is now 30 months (March 2011) since the National Institute for Health & Clinical Excellence ('NICE') recommended that CardioQ-ODM be considered for use in patients undergoing major and high risk surgery and in high risk patients undergoing intermediate risk surgery.

This says a lot, 'Probe sales in the first quarter were flat against a strong comparator in 2012 which saw growth of over 60% after a small number of bulk orders'.

That only shows that the slow uptake in 2012 has got even slower.

They then say, 'To enable the NHS to meet its innovation agenda most effectively, we have made proposals to the Department of Health and NHS with respect to a large bulk order of monitors: we anticipate a decision in the second half of 2013', good idea, but I won't hold my breath.

Deltex analysts told us that they expected the company to be in proit by end 2013.

At this rate they are not going to make it!

A couple of months ago in answer to an e-mail sent to Ewan Phillips part of the reply was this statement, 'You will be reassured to know that being more aggressive on the PA/PR front is an option that is on the table'.

I just hope that it is now 'off the table' and in action!

I want Deltex to stop knocking gently on doors (being ignored like door to door salesmen) and start banging the drum a lot more!

Gently, gently, might catchy monkey, but who wan'ts a bloody monkey.

I know we already know this and yes it is yet another posative news item for Deltex, but articles such as this have to be good.

Deltex is mentioned about half way through the article.

http://www.generalsurgerynews.com/ViewArticle.aspx?d=In%2Bthe%2BNews&d_id=69&i=October+2013&i_id=999&a_id=24131

Now into the last quarter of 2013 and still no contract news.

I wonder if we will hear of such before year end.

I hope so, as if not it will be another year of missed opportunities.

With the investors event tomorrow, if they intent to release anything sp effecting, they will have to release it pre event opening.

I know they are progressing, but it's so slow, it's painful.

I've had these shares for over eight years.
That's a lot of dosh tied up for a long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long time.

Hi Arf,

I have had these shares at least one more 'long' than you.

They say patience is a vertue, it bloody has to be with this company.

Like watching paint dry, but not as exciting.

From the RNS of 24/12/12.

On 24/12/12 the NHS set out it's minimum requirements for Intra-Operative Fluid Management.

As we all know there were cash incentives to NHS Trusts if they had everything geared up by 31st march 2013 by having put measures in place to meet the criteria set out in order to qualify for the release of any 2013/14 CQUIN funding.

So with all the advantages, such as lower death rates, lower re-admissions, less in patient days, less suffering coupled with a now cash incentive, we still see little movement in the UK.

We now know that expectations in the US are 2 to 2.5 years and not much moving anywhere else, although we do have comments re Spain perhaps starting to push things, but we have had such promising news so many times.

So it does bare the question re further funding not just or more trainers and hopefully possible increase in production sales costs, but for the general running of the company.

I won't go over old ground re Deltex going it alone but I would like to see more fire in the belly of management.

In a reply from Ewan a few months ago re my comments regarding a far more aggressive approach to NHS none take up IE leaks to the media, the reply was that such an approach was being considered (aggressive but no leaks to the media).

I have see little of this approach, but with the NHS Trusts still sitting around all day either overseeing more and more hospital foul-ups or moving papers from one pending tray to the other, I can't see how a very aggressive approach could make things worse.

For me, if something ground breaking does not appear before year end, I am out as I have been caught too many times in the past allowing heart to rule head, a dangerous game indeed.

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Haven't posted for a while, but I have a question re todays RNS.

If Deltex are to sell an alternative system to their own they will have to answer questions as to how their own system compares, surely any increase of the USCOM1A in the UK will mean less sales of the CardioQ.
Also what message does his send to potential CardioQ customers, does is say that Deltex lack confidence in the CardioQ.

How can pushing a competitors product be good for the sales of your own product.
I appreciate there is a reciprocal agreement, but does anyone else read this as desperation on the part of Deltex.

Not trying to 'have a go' as I have been accused of in the past, but would appreciate opinions.

Sorry, wrong thread.

RNS.

Joint broker must mean they are looking to release a few contracts or similar good news as if not a joint broker will be a waste of money.

Come on Deltex give us some news worth putting out, although I appreciate as per the rules any broker news has to be released.