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.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

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%.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.