EDX Medical Group - Strategic investment via Placing of Shares

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English law by virtue of the European (Withdrawal) Act 2018, as amended.  On publication of this announcement via a regulatory information service, this information is considered to be in the public domain.

23 October 2024

EDX Medical Group plc

AQSE: EDX

("EDX Medical" or the "Company")

Strategic investment via Placing of Shares

CAMBRIDGE, UK: EDX Medical Group plc, which develops innovative digital diagnostic products and services supporting personalised treatments for cancer, heart disease and infectious diseases, announces that the Company has received a strategic investment of £300,000 from a private investor via the placing of 2,727,272 new ordinary shares of 1p each ("the Placing Shares") in the Company at a price of 11p per share ("the Placing Price").

The investment in the Company at a premium of 22 % on the current market share price will be used to support the expansion of EDX Medical's capabilities and operations.

The investor is a highly experienced healthcare investor based in Saudi Arabia and has been assisted in the Placing by Capital Plus Partners, London.

An application has been made for the Placing Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective on October 25, 2024.

Professor Sir Chris Evans, OBE, founder of EDX Medical, commented: "We are delighted that another high net worth, experienced healthcare investor with a track record in successful medical ventures has chosen to support EDX Medical. This investor's extensive network of healthcare contacts in the Gulf is also of considerable importance to the marketing of our new products in that region."

Dr Mike Hudson, Chief Executive Officer of EDX Medical, commented: "This investment is another declaration of support in our strategy of developing and providing class-leading diagnostic solutions that will help health professionals achieve better outcomes for patients."

Total Voting Rights

In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the Company hereby announces that following the Placing, it will have 350,084,848 Ordinary Shares in issue, each share carrying the right to one vote. 

The above figure of 350, 084,848 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

The directors of EDX Medical accept responsibility for the contents of this announcement.

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About EDX Medical Group 

EDX Medical Group plc is listed on the Apex Segment of the AQSE Growth Market (TIDM: EDX).

EDX Medical was founded by Professor Sir Christopher Evans, OBE, a medical and life sciences entrepreneur with more than 30 years of experience, together with CEO, Dr Mike Hudson.

By translating clinical insights into pragmatic solutions combining advanced biological and digital technologies, EDX Medical seeks to cost effectively improve the detection and characterisation of disease in order to personalise treatment in a timely fashion. Early disease detection and biologically-based personal treatment optimisation is considered to be the most impactful way of reducing deaths and lowering the cost of healthcare globally.

EDX Medical Group provides doctors, hospitals and insurers/payers with access to a portfolio of the best clinical diagnostics products and services. The Company operates its own facilities in Cambridge and Oxford, UK, and has strategic product and technology partnerships with organisations such as Thermo Fisher EMEA Ltd, a world leader in supplying life sciences solutions and services.

EDX Medical conducts product development, validation and distribution to ISO 13485 and provides PCR and genomic sequencing services accredited to ISO 15189 by the United Kingdom Accreditation Service (UKAS).