Proposed fundraising update

Cambridge, UK, 21 April 2015: Sphere Medical Holding plc (AIM: SPHR.L), (“Sphere” or “Sphere Medical” or the “Company”) a leading provider of innovative monitoring and diagnostic devices for the critical care setting, is pleased to provide the following update on the proposed Fundraising announced on 13 April 2015.

Sphere Medical previously announced that Woodford Investment Management, on behalf of its clients, had given a non-binding intent to invest up to £4 million in the Placing.   Following the announcement earlier today that Woodford Patient Capital Trust Plc (the “Woodford PCT”) has been admitted to the premium listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange’s main market for listed securities, the  Woodford PCT has now entered into a legally binding commitment to subscribe for 23,125,000 Placing Shares at 16p, which represent 30.8% of the Placing Shares and 17.2% of the Company’s enlarged issued share capital assuming none of the 7,425,661 New Ordinary Shares available under the Open Offer are subscribed for.

The Placing and Open Offer remain subject to the fulfilment of certain conditions detailed in the announcement on 13 April 2015.