Appointment of Regional Distributor and Company Update

 

Italian Distributor Appointed

Sphere Medical Holding plc (AIM: SPHR.L), an innovative point-of-care monitoring and diagnostic devices company, is pleased to announce the appointment of Burke & Burke S.p.A. (“Burke & Burke”), as exclusive distributor of Proxima products in Italy.  Burke & Burke, established 40 years ago, has considerable experience in point of care devices and already markets a number of medical devices, including complex ventilation devices and anaesthesia monitoring devices, to critical care units in hospitals across Italy, with Proxima adding a complimentary product to its portfolio.

Under the terms of the distribution agreement, Burke & Burke will commence marketing of Proxima 4 immediately following its launch.  Burke & Burke has already committed to place an initial order for Proxima 4 monitors and consumables.

Sphere Medical will continue to pursue the appointment of further regional distributors for Proxima products in other European markets where not yet present.

Company Update

The Company is continuing with preparations for the commercial launch of Proxima 4 in Europe later this year, and is close to completing the CE-marking process. Ahead of the launch of Proxima 4, the Company continues to build awareness of the patient-related and cost benefits of the Proxima platform: while sales of Proxima 3 in the first half of 2016 continued to be modest, interest has continued to grow, with more hospitals evaluating the product and patient connections growing by more than 50% during the first half of 2016 over the previous six months.

An important market trend is that hospitals increasingly wish to capture data from point of care devices such as Proxima in electronic records.  Sphere Medical has established connectivity between the Proxima platform and both Conworx and Clinisys data management systems, two of the leading systems in Europe.  The Conworx customer base includes 1,800 hospitals in 25 countries.  CliniSys software systems are used in over 2,500 laboratories in 35 countries.  Moreover, CliniSys products are utilised in 40% of NHS Trusts in England and Scotland, with a further significant presence in Germany, Netherlands, Belgium, France and Spain.  The new connectivity will allow the seamless transfer of test results from Proxima directly into laboratory information systems and electronic patient records.   

The Company’s manufacturing facility in Wales, which opened in February 2016, has already commenced production of Proxima components, and over the next 12 to 18 months the Company plans to gradually transfer more elements of the production process from its site at Harston, Cambridge to the Welsh manufacturing facility.

Dr. Wolfgang Rencken, Chief Executive Officer of Sphere Medical, said: “We are delighted to appoint Burke and Burke as our first regional distributor of the Proxima platform.  This is an excellent endorsement of Proxima and we look forward to the launch of Proxima 4 later this year, in addition to further distribution agreements.”