We are currently investigating intermittent issues affecting access to some articles and pages on our site. We apologize for any inconvenience and are working to resolve this as quickly as possible.

IN BRIEF: Deltex Medical seeks to cancel AIM listing in cost cut drive

Deltex Medical Group PLC - Chichester, England-based medical equipment supplier - Announces plans ...

Alliance News 16 January, 2025 | 8:25PM
Email Form Facebook Twitter LinkedIn RSS

Deltex Medical Group PLC - Chichester, England-based medical equipment supplier - Announces plans to cancel its AIM listing as its "cost base remains too high" and the regulatory environment is "onerous". Explains listing costs of GBP0.2 million are around 10% of firm's cost base. "Believes that these costs are disproportionate to the limited benefits that admission provides to the group and its shareholders". In addition, Chief Executive Officer Andy Mears intends to step down "to pursue other opportunities". Deltex says Finance Director Natalie Wettler will succeed Mears as CEO once the cancellation from AIM has taken effect, at which point Mears will leave the company. Meanwhile, Deltex says it made good progress in 2024, noting that revenue increased by around 17% on-year to GBP2.1 million from GBP1.8 million. Adds that its TrueVue monitor "was promoted aggressively - both in the UK and internationally - and revenues from this new product are beginning to grow". Also says it has "optimised" the manufacturing processes associated with the TrueVue monitor, and that Deltex's competitive backdrop "also appears to be improving" due to "accumulating evidence" that competing systems "do not provide clinicians with the critical data that they need to optimise patients' haemodynamic status".

Current stock price: 0.041 pence, down 49% in London on Thursday

12-month change: down 76%

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2025 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Deltex Medical Group PLC 0.04 GBX -50.00 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2025 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures