Deltex Medical Signs New Exclusive Distribution Deal With CASMED; Stock Up

(RTTNews) - Shares of Deltex Medical Group plc (DEMG.L) increased around 3 percent in the morning trading in London after the provider of oesophageal Doppler monitoring announced Monday that it has been appointed exclusive UK distributor of CAS Medical Systems Inc's (CASM) FORE-SIGHT cerebral oximeter monitors. In 2014, UK hospitals purchased about 0.2 million pounds of FORE-SIGHT products predominantly used in adult and paediatric cardiac surgery. The current cerebral oximetry market in the UK is estimated to be in excess of 1 million pounds per annum with growth opportunities.

The distribution agreement covers both the UK and Ireland and is effective from January 1 with initial stocks and sales team training being delivered this week. Thomas M Patton, President and Chief Executive Officer of CASMED said, "With a sales channel to over 90% of major UK hospitals supported by a full national team of sales representatives and clinical support personnel, Deltex has excellent penetration and relationships in hospitals that are likely users of FORE-SIGHT." In London, Deltex shares were trading at 4.10 pence, up 2.50 percent.