Deltex Medical jumps after winning contract with Vizient

Deltex Medical's shares climbed on Tuesday after it won an innovative technology contract from US healthcare performance improvement company Vizient.

The medical technology firm said the contract was based on the recommendation of hospital experts in haemodynamics who serve on one of Vizient's member-led councils, with the contract targeting technologies that can significantly enhance clinical care and patient safety, whilst also improving an organisation's care delivery and business model.

The technology in question is Deltex's CardioQ-EDM+ esophageal doppler monitor, which measures blood flow velocity in real time and has regulatory approval for use in the US on both adult and paediatric patients down to three kilograms.

The AIM traded company added that the contract will help Deltex to expand its pipeline and US customer base even though there is no guarantee of sales.

Andy Mears, chief executive of Deltex, said: "Vizient is the largest member-driven healthcare improvement company in the United States, and its diverse membership and customer base includes academic medical centres, paediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers with combined purchasing volume of approximately $100bn annually."

Deltex Medical's shares were up 12.07% higher at 1.62p at 1319 BST.