Deltex Medical struggles in Eurozone headwind

Deltex Medical, an AIM listed firm which produces monitoring systems for post-operative patients, has fallen 9% this morning on news of restricted budgets in developed healthcare markets.

Europe's sovereign debt crisis has put significant pressure on government spending delaying or reducing expected sales of Deltex's equipment, which monitors blood flow to give doctors early warnings on a patient's condition.

Deltex saw a major order in the U.S. expected for the end of 2011 postponed into 2012.

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In the U.K the final nine months of the year were £200,000 behind the equivalent period of 2010.

Commenting on the results Deltex's Chairman Nigel Keen blamed the financial crisis for the company's difficulties: "Our revenue mix is being pushed from capital sales towards higher proportions of higher quality recurring revenue streams: we believe we have now absorbed the worst of the ensuing short term revenue loss from this transition."

Over the last 12 months Deltex is still up 19%.