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Market: AIM
52-week High/Low: 14.79p / 5.09p
Sector: Pharma & Biotech
Market Cap: 11.70M
Phone: +44 (0)1223 875222
Address: Harston Mill, Harston, Cambridge CB22 7GG.
Sphere Medical Holding PLC

Sphere Medical Holding PLC

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.

Sphere Medical Holding PLC

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Big picture - Why invest in Sphere Medical Holding PLC

Sphere Medical Holding PLC Snapshot

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 Proxima (CE-marked device) platform for measuring blood gases, electrolytes and metabolites.  The Company is already marketing its Proxima product directly to the critical care market, which includes the ICU and OR, with a dedicated field sales force in the UK, Germany, the Netherlands and Belgium.  The Company also proposes to work with partners for the worldwide distribution of Proxima. A distributor for Proxima has already been appointed in Italy.

Proxima delivers near real time analysis of blood gases, electrolytes and metabolites, at the patient’s bedside.  Proxima can be used on patients across a wide therapeutic range, enabling faster clinical decision making and improved patient outcomes, whilst potentially reducing costs for healthcare payers.



Discover how easy it is to run a blood gas with this in-line arterial blood gas monitoring system. To view a video please click here 

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 transducer integrated into 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 and electrolytes over a 72 hour period as many times as required.


For more infomration please click here 


World's first commercially available device to rapidly measure the concentration of propofol in whole blood samples. The Pelorus propofol measurement system takes a step towards personalised propofol dosing

Using Pelorus
With Pelorus, there are just four simple steps to rapidly measure propofol concentration.










Insert cartridge:  Single-use cartridge for each measurement.










Sample injection: Small volume of a whole blood heparinised sample. No sample preparation required.


Step 3:

Automatic sample measurement: Highly sensitive measurement principle (no significant cross interference). Low limit of quantification of 0.25 μg/ml and linearity up to 20 μg/ml.

Step 4 

Rapid results: Propofol concentrations are displayed on the screen around 5 minutes after the injection time with precision and accuracy comparable to HPLC.




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.

Dr David Martyr, Non-Executive Chairman

Dr Martyr has held several senior level positions of medical, diagnostic, life science and laser technology companies for more than 20 years.  He is currently CEO of Tecan AG, a Swiss listed laboratory instruments and solutions company with a market capitalisation of over CHF1BN.  Prior to that he spent 13 years at Leica Microsystems which was acquired by Danaher Corporation in 2005, his last position being Group President Leica Microsystems with US$1.3BN of sales and 4,500 employees and simultaneously VP & Group Executive, Danaher Corporation, with responsibility for the development of the Life Science and Diagnostics business platform.  David is also a Non-Executive Director of ALDA (Analytical Life Science Diagnostics Association), based near Washington DC.

Dr Wolfgang Rencken, CEO, Director

Dr Rencken joined the Board in February 2014. He has extensive experience in the healthcare and medical diagnostic equipment industries. He has been responsible for the development and launch of many innovative medical devices and has a proven record of revenue and profit growth. His previous roles include CEO of MAQUET Cardiopulmonary AG, COO of Definiens AG, Vice President of Engineering in the Software Components and Workstations business unit of Siemens AG. Wolfgang has a doctorate in Engineering Science from the University of Oxford. He has written many scientific publications in the area of robotics and has authored a number of patents.

John Gregory, Non-Executive Director and Senior Independent Director 

A Chartered Accountant who for the last 20 years has concentrated on non-executive roles with young, fast-growing companies, John Gregory joined the Board of Sphere in November 2011. He is currently Non-Executive Chairman of Foresight VCT plc and is a Non-Executive Director or Chairman of a number of private companies.  John's earlier career in the City included appointments as a director of Singer & Friedlander Holdings and Managing Director of Henry Ansbacher & Co.  He was also named 'AIM Non-Executive Director of the Year' in 2011 in the annual non-executive director awards.

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.

Meinhard Schmidt, Non-Executive Director

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.

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.

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.

As at 4 June 2016 shareholders with a shareholding, directly or indirectly, of 3% or more of the issued share capital of the company are:

Fund Shares Percent
Woodford Investment Management LLP 42,031,075 29.6%
The Wales Life Sciences Investment Fund LLP 25,000,000 17.6%
LSP Life Sciences Fund 10,904,000 7.7%
Ortho-Clinical Diagnostics 8,141,250 5.7%
Octopus Investments 6,250,000 4.4%
Ruffer LLP 5,653,895 4.0%
Royal London Asset Management 5,624,185 4.0%


Sphere Medical Ltd

Harston Mill



CB22 7GG

Tel: +44 (0)1223 875222

Fax: +44 (0)1223 875284


Panmure Gordon (UK) Limited,
One New Change

London EC4M 9AF

Taylor Wessing LLP,
5 New Street Square,

London EC4A 3TW

Grant Thornton UK LLP,
101 Cambridge Science Park, Milton Road,

Cambridge CB4 0FY

Consilium Strategic Communications,
41 Lothbury

London, EC2R 7HG,
[email protected]

Elkington & Fife,

Thavies Inn House, 3-4 Holborn Circus,
London EC1N 2HA


Equiniti, Aspect House,
Spencer Road, Lancing,

West Sussex BN99 6DA

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