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Pharma Capital
EPIC: SPHR
Market: AIM
Sector: Pharma & Biotech

Sphere Medical is a dynamic company specialising in the development of innovative medical monitoring and diagnostic equipment.

Our products are used in a wide range of medical applications, enabling faster clinical decision-making and improved patient outcomes, whilst providing efficiencies that result in reduced healthcare costs.

The Company’s strategy is focused on developing the...

Sphere Medical Holding PLC

www.spheremedical.com

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Big picture - Why invest in Sphere Medical Holding PLC

Sphere Medical Holding PLC Snapshot

Our mission statement

At Sphere Medical we have a clear vision of what our company does and our aims.

It is the mission of Sphere Medical to:
  • Improve patient care and reduce healthcare costs through supplying healthcare professionals with innovative, real time point of care diagnostic and monitoring products
  • Serve our customers by developing products of the highest quality to improve patient care
  • Make a fair and sustainable profit to enable us to invest in the growth of our company for the benefit of our stakeholders
  • Create an environment that enables our employees to perform at their best and encourages continuous professional development

Our quality policy

Delivering improved patient care drives every aspect of our business.

We are committed to delivering medical device products which exceed our customers’ expectations for quality, reliability and safety.

We will achieve this through our culture of continually maintaining the effectiveness of our Quality Management System and improving our processes to satisfy the required regulatory requirements, as well as training our employees to deliver high quality services.

 

Proxima

Discover how easy it is to run a blood gas with this in-line arterial blood gas monitoring system. 

Frequent measurement of arterial blood samples is an important component in the effective management of patients in the critical care environment, particularly those that are unstable. Point of care or near patient testing has had significant impact on the turnaround time for time critical tests. However, this has come at the expense of adding to the workload of front line care staff, taking them away from the patient at key times and can still involve significant wastage of patient blood.

Proxima is a patient dedicated arterial blood gas analyser which supports rapid and frequent measurement without leaving the patient.

The Proxima system is operated using the dedicated bedside monitor with touch screen interface. Simple, clear routines guide the user through operating the system and patient results are displayed clearly at the patient bedside and can be electronically transferred for permanent record.

The Proxima Sensor is a disposable device attached to the patient’s arterial line without interfering with blood pressure monitoring. When an arterial blood gas analysis is required, blood is withdrawn from the patient into the Proxima Sensor and a panel of analytes is measured to laboratory analyser accuracy. All blood is returned to the patient and results are displayed on the bedside monitor.

Proxima Sensor can be used for monitoring blood gases, electrolytes and glucose over a 72 hour period as many times as required.

Scheduling

The Proxima acute respiratory and metabolic monitor now supports a scheduling function

Many care protocols call for the regular measurement of key blood markers to monitor the patient condition and response to therapy. This is particularly the case in the management of the sickest patients, and care staff can sometimes struggle

For example:

  • Blood gases are often measured hourly for patients undergoing ECMO treatment for respiratory failure
  • Insulin infusion protocols require initial hourly glucose measurements, reducing to two hourly measurements
  • Head trauma protocols call for hourly arterial blood pCO2 measurements, as a part of careful control of intracranial blood flow and pressure.

The Proxima acute respiratory and metabolic monitor now supports a scheduling function to support regular measurements, as well as streamlining the workflow around arterial blood sample measurement.

The user can set up a single or repeated alert at commonly used testing intervals from 15 minutes to 4 hours. The monitor provides a continuous display of both the time since the previous reading as well as the time to the next scheduled measurement. When the measurement is due, the user is given a visual and (optional) audible alert.

System Information

The Proxima system uses proven sensing methods for determining analyte concentrations in patient blood samples. The Proxima sensor contains an array of biosensors on a silicon chip, each a miniaturised version of the electrochemical sensors used in a traditional blood gas analyser.

To view the Proxima brochure, please click here

 

Clinical

Support of unstable critically ill patients is a demanding and time consuming job, whether in the intensive care unit or the operating theatre. The Proxima bedside blood gas measurement system has been designed to give a rapid turnaround of results without leaving the patient.

The Proxima system is integrated into the patient’s arterial line, operating as a closed system.  During the measurement procedure, the user draws blood into the Proxima Sensor using a closed sampler device. Once the sample has been analysed, all blood is returned to the patient. Proxima supports blood conservation best practice, aiming to reduce the risks of patient anaemia and thereby avoiding unnecessary blood transfusions.

Another key advantage of using a closed system for measurement is that it supports infection control practices. There is no need to open the arterial line and risks of blood splash injury for the carer are avoided. Furthermore, measurement directly at the patient bedside stops the transport of potentially infectious material around critical care areas, a particular concern with the infectious isolated patient.

See below how using the Proxima system can help in the care of specific patient groups in critical care.

 

Cardiac surgery

Cardiac surgery patients require intensive monitoring, both during surgery and in the following hours or days. Cardiopulmonary bypass support can lead to substantial changes in blood chemistry due to the effects of priming solution, blood loss and profound temperature change in the patient.

Blood tests may be carried out every 30 minutes during surgery and at hourly or two hourly intervals in the first day of recovery. Such a high frequency of testing can contribute to the overall blood loss experienced by these patients, and blood conservation best practice is an important aspect of avoiding complications.

The Proxima system allows rapid measurement of arterial blood gases, electrolytes and glucose levels directly at the bedside. This can speed up the time to results, even in a highly optimised care setting. In addition, use of Proxima can reduce the time that nurses are away from the patient in the intensive care unit, an important consideration in the care of unstable patients.

Proxima operates as a closed system, returning all blood to the patient and supporting blood conservation in this vulnerable group.

 

For more information, please click here

Management Team

 

The management team of Sphere Medical has the expertise of highly experienced professionals in areas such as medicine, research and development, regulatory affairs and commercialisation. The team is tasked with guiding the company during this dynamic phase of its development and beyond.

Luciën van Os, CEO, Director

Luciën van Os has more than 12 years’ experience in the medical device industry, having worked for companies such as Medtronic and Gambro in senior management positions as well as being CEO of small and mid-sized companies. He has an engineering background and has also worked for more than 15 years in various engineering and R&D roles for companies such as Philips and Ericsson.  Luciën has significant experience in bringing new technologies and products to market such as DECT cordless products, Bluetooth accessories, fully digital pacemakers, remote monitoring of cardiac pacemaker patients and injectable cardiac monitoring devices.


Richard Wright, CFO, Director

Richard is a Chartered Accountant with more than 20 years of experience in financial roles across a variety of sectors. Prior to joining Sphere Medical, he was Finance Director of Alliance Pharma plc, the UK based AIM-listed speciality pharmaceutical company for eight years. Richard has also previously held senior finance positions with FirstGroup plc, Somerfield plc and Parragon Books Limited.  Richard read Mathematics at the University of Cambridge and qualified as an accountant with Ernst & Young LLP.


Malcolm Stewart, Director of Marketing and Business Development

Malcolm has more than 25 years’ experience in the medical device and pharmaceutical industries. He achieved top sales awards in 2 companies and has held senior Marketing roles in Smiths Medical, CR Bard and CareFusion/BD with both national and international responsibility. His expertise is in critical care and operating theatre equipment such as infusion pumps and patient monitors. He has worked extensively in product development bringing products to launch in the international critical care market.


Shirlee Reason, Human Resources Business Partner

 

Shirlee is an innovative and detailed orientated HR Business Partner with over 19 years’ experience in Office Management and Human Resources ranging across specialities such as Security and Information Technology.  She has a medical background as she worked for 11 years as a qualified nurse with much of that time based in Intensive and Coronary Care.  Shirlee’s expertise also spans Health & Safety and Internal Auditing and has significant experience dealing with start-up companies. Shirlee is passionate about HR with speciality in Assessing Personalities in the workplace and Psychology

 

Dev Raut, Interim Director Regulatory Affairs and Quality Assurance

Dev has more than 10 years’ experience in Medical Device, In-Vitro Diagnostic and Pharmaceuticals. In his Consultant capacity at RAQS Ltd he has been supporting various large and small companies such as CooperVision and worked with companies like Qiagen and Meidicina in Management positions; leading the departments to success by implementing continuous improvement, lean processes and a pragmatic approach to ensure effective compliance. Dev has strong Regulatory, Quality and Product Development background from various Multinational companies as Zimmer Biomet and Smith & Nephew. He has substantial experience in Market Entry in EU, US and various International markets. He has undergraduate Degree in Pharmacy and Post Graduate Master’s Degree in Pharmacology completed with Distinction which reflects his strong academic background, useful in the Medical Device sector for Clinical Evaluation and Investigations.  His Lead Auditor Qualification and working experience on Manufacturing site, Cleanroom setup, Supplier management and Site transfer is very valuable.

 

Board of Directors

We are fortunate that the Board of Sphere Medical has such a depth and breadth of commercial and industry specific expertise. The Board determines the strategic direction of the company and charts its future course.

 

Meinhard Schmidt, Non-Executive Chairman

Mr Schmidt has more than 20 years of international experience as an entrepreneur and senior executive in the healthcare, diagnostics and medical devices industries. Between 1998 and 2008 Meinhard was at Roche Diagnostics where he held various senior leadership roles in Diabetes Care, Lab Diagnostics and was Senior VP and Head of Roche Decentralized Solutions, which achieved the leading global position in the Near Patient Testing market. Meinhard has strong board level experience and has worked across M&A, global operations, sales and marketing, programme and innovation management and has held executive management positions in Germany, The Netherlands, USA, Canada, Sweden, UK and Switzerland. Meinhard is currently a Board Director at valuationLAB AG and CeQur AG, and Chairman at Promimic AB and Oncimmune Ltd.


Luciën van Os, CEO, Director

 

Luciën van Os has more than 12 years’ experience in the medical device industry, having worked for companies such as Medtronic and Gambro in senior management positions as well as being CEO of small and mid-sized companies. He has an engineering background and has also worked for more than 15 years in various engineering and R&D roles for companies such as Philips and Ericsson.  Luciën has significant experience in bringing new technologies and products to market such as DECT cordless products, Bluetooth accessories, fully digital pacemakers, remote monitoring of cardiac pacemaker patients and injectable cardiac monitoring devices.


Richard Wright, CFO, Director

Mr Wright joined the Board in August 2015.  He is a Chartered Accountant with more than 20 years of experience in financial roles across a variety of sectors. Prior to joining Sphere Medical, he was Finance Director of Alliance Pharma plc, the UK based AIM-listed speciality pharmaceutical company for eight years.  Richard has also previously held senior finance positions at FirstGroup plc, Somerfield plc and Parragon Books Limited.  Richard read Mathematics at the University of Cambridge and qualified as an accountant with Ernst & Young LLP.


Stephen H Mahle, Non-Executive Director

Mr Mahle is the former Executive Vice President of Medtronic Inc., one of the world's largest medical device companies. He held numerous senior leadership positions with the company, including leading Medtronic's largest division as President of the Pacing Business and subsequently as President of Cardiac Rhythm Disease Management, which had sales of US$4.5BN and 12,000 employees. He retired in 2009 after 37 years. Prior to joining Medtronic, Stephen was a Captain in the US Army where he served as a research scientist at the NASA Manned Spacecraft Center in Houston. Stephen currently serves on the board of EBR Inc., an implantable medical device start-up based in Sunnyvale CA.  He holds a Bachelor of Science degree in physics from Beloit College and a Masters degree in physics from Pennsylvania State University.

 

Brenig Preest, Non-Executive Director

Mr Preest has over 20 years' experience in the finance and healthcare sectors, primarily as an investor in high growth medical technology and biotechnology opportunities.  He has been involved in over £500m of investments. His early career was at Amersham International (now GE Healthcare) and Coopers & Lybrand (now PwC) and is currently an investment director at Arthurian Life Sciences Limited, a venture capital firm, which provides management services to the Wales Life Sciences Investment Fund LP (being a fund raising up to £100 million focused on life sciences).  He is also a non-executive director at CeQur AG, Apitope BV and SimbecOrion Ltd. Mr Preest is a Chartered Accountant, studied Pharmacology at Cardiff University and financial strategy at the University of Oxford, and was previously elected president for the ICAEW in Wales.

 

As at 3 March 2018 shareholders with a shareholding, directly or indirectly, of 5% or more of the issued share capital of the company are:

Fund Shares Percent
Woodford Patient Capital Trust Plc 133,957,583 41.6%
The Wales Life Sciences Investment Fund LP 60,435,861 18.8%
Omnis Income & Growth Fund 38,562,436 12.0%

 

Sphere Medical Ltd

Harston Mill

Harston

Cambridge

CB22 7GG

Tel: +44 (0)1223 875222

 

 

SOLICITORS TO SPHERE:
Taylor Wessing LLP,

5 New Street Square,

London EC4A 3TW

 

AUDITORS:
Grant Thornton UK LLP,

101 Cambridge Science Park, Milton Road,

Cambridge CB4 0FY

 

PATENT AND TRADE MARK ATTORNEYS:
Elkington & Fife,

Thavies Inn House, 3-4 Holborn Circus,

London EC1N 2HA

 

Registrars:
Equiniti, Aspect House,

Spencer Road, Lancing,

West Sussex BN99 6DA

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