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Sphere Medical prepares for flotation and eyes expansion
21/10/2011
Pioneering medical equipment firm, Sphere Medical, is proceeding with plans to list on AIM, with the aim of raising around £15 million for its future expansion and development.
The company hopes that the money they raise through next month's float will fund the commercial development of their tiny, microchip technology - known as Proxima - which is likely to revolutionise the way in which patients are monitored.
The company's chief executive, Stuart Hendry, said that the tiny product contains a microchip with sterilised sensors, which can be fitted directly into a patient to keep track of oxygen, carbon dioxide and glucose levels in the blood.
"[Our devices] produce the same numbers the doctors and nurses have been using for the last 25 years," he said. "However it is the size of a matchbox, which means we can attach it to the patient. This means in real time you get all of the readings you need."
The results do not have to sent away to a lab, blood doesn't need to be taken from a patient and readings can be carried out multiple times, at no extra cost.
Proxima - its lead product - is designed for use in intensive care units, while the company is also developing the technology for use in open-heart surgery patients for its partner Sorin Group, an Italian firm.
The company hopes that the money they raise through next month's float will fund the commercial development of their tiny, microchip technology - known as Proxima - which is likely to revolutionise the way in which patients are monitored.
The company's chief executive, Stuart Hendry, said that the tiny product contains a microchip with sterilised sensors, which can be fitted directly into a patient to keep track of oxygen, carbon dioxide and glucose levels in the blood.
"[Our devices] produce the same numbers the doctors and nurses have been using for the last 25 years," he said. "However it is the size of a matchbox, which means we can attach it to the patient. This means in real time you get all of the readings you need."
The results do not have to sent away to a lab, blood doesn't need to be taken from a patient and readings can be carried out multiple times, at no extra cost.
Proxima - its lead product - is designed for use in intensive care units, while the company is also developing the technology for use in open-heart surgery patients for its partner Sorin Group, an Italian firm.
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