First Sales and Appointment of New Chairman

Cambridge, UK, 25 June 2015: Sphere Medical Holding plc (AIM: SPHR.L), (“Sphere Medical” or the “Company”) a leading provider of innovative monitoring and diagnostic devices for the critical care setting, announces that, at its Annual General Meeting, which will take place at 11:00 am today at Harston Mill, Harston, Cambridge, Dr Anthony Martin, Non-Executive Chairman, will provide the following update:

The two major objectives for Sphere Medical since the beginning of the year have been: the continued commercialisation of Proxima 3 into the UK market and more latterly, into the German, Dutch and Belgium markets; and the finalisation of the development of Proxima 4 alongside Ortho-Clinical Diagnostics as well as fulfilling our obligations under the Collaboration Agreement.

I am pleased to report that the Company has delivered its first commercial order of Proxima 3 product, which represents an important milestone for the Company. Furthermore, we are continuing to grow the number of hospitals showing interest in Proxima 3 and work is continuing with these hospitals for the sale of Proxima into their intensive care settings.  The evaluations Sphere has undertaken this year within hospitals have shown that Proxima can reduce the time from ordering a blood gas test to receiving the result by 40% to 60% in a typical clinical environment as well as eliminating the time the nurse is required to spend away from the patient.

Under the terms of the Collaboration Agreement with Ortho-Clinical Diagnostics, Sphere Medical has granted an option to Ortho-Clinical Diagnostics to enter into good faith negotiations for the exclusive rights to commercialise Proxima 4.  In connection with this option, Sphere Medical has certain obligations to compile and deliver a data package of reports detailing key product attributes and commercial observations related to Proxima 3 and Proxima 4.  Sphere Medical is on schedule to deliver all of these reports.

Work is also on schedule for the submission of the technical and design dossier files necessary for the approval of Proxima 4’s CE marks.  We currently expect to release these files to our Notified Body during Q3 2015.

On 30 April we announced a successful £13.2 million (gross of costs) fundraise from new and existing shareholders to further strengthen the Company’s balance sheet and to enable the achievement of near-term operational and commercial value drivers which we are confident will create substantial value for our shareholders.

On 7 January we announced David Martyr’s and Meinhard Schmidt’s appointments to the Board as Non-Executive Directors.  I indicated at that time that I would be reviewing our succession plan for the Chairmanship of Sphere Medical.  I have been Chairman of Sphere Medical for ten years and over that time the Company has developed from a private company engaged in research and development to a commercially-focused public company selling its CE-marked medical device into Europe.  I now believe it is time to for me to stand down from my role and therefore I am very pleased to announce that David has agreed to replace me as Chairman.  I have every confidence that David’s extensive experience within the medical device industry will be of significant benefit to Sphere Medical in the coming years.