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Sphere Medical Holding PLC

Sphere Medical rockets higher on first orders for Proxima 4

Proxima 4 was launched into the European market in December 2016 a

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Six hospitals have ordered Proxima 4

Sphere Medical Holding PLC (LON:SPHR)has received orders from six hospitals in three countries so far for its latest version of the Proxima gas analyser.

That hit rate is from 14 hospitals that carried out evaluations on patients while thirty have had a product demonstration.

Proxima 4 was launched into the European market in December 2016 and follow-up discussions are underway with the other hospitals which have conducted evaluations, said Sphere.

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Wolfgang Rencken, Sphere Medical’s chief executive, said: "We are very pleased with the market reaction to Proxima 4 and encouraged by the early response from customers. We look forward to building on this through 2017."

Unlike previous models, the upgraded product can be used with children and the Royal Manchester Children's Hospital is one of those that has placed an order, the first paediatric unit to purchase a Proxima product. 

Sphere added that a distributor has been appointed in Austria, while training, marketing and monitoring of patients in hospitals is now underway in Italy and is on track to commence in Spain imminently. 

Production processes have now been fully switched to Proxima 4 from Proxima 3, and the establishment of Sphere's manufacturing facility in Wales has continued to progress according to plan. 

Shares rose 13% to 6.9p.

 

-adds share price--

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