3i Group PLC

Regulatory Filings • May 16, 2016

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 2634Y

LiDCO Group Plc

16 May 2016

16 May 2016

LIDCO GROUP PLC

("LiDCO" or the "Company" or "the Group")

US distribution agreement with ICU Medical

LiDCO (AIM: LID), the hemodynamic monitoring company, announces it has signed a distribution agreement with its partner ICU Medical, Inc. (NASDAQ: ICUI) to sell the LiDCO IM non-invasive hemodynamic monitoring system in the United States. LiDCO IM is a specially configured hemodynamic monitor produced exclusively for ICU Medical that works solely in conjunction with LiDCO's non-invasive module.

LiDCO and ICU Medical have an existing royalty agreement allowing ICU Medical to incorporate LiDCO's technology into its FDA 510(k)-cleared CogentTM 2-in-1 hemodynamic system, which combines both invasive and minimally invasive hemodynamic monitoring capability on a single platform. Both the Cogent in minimally invasive mode and the LiDCO IM non-invasive monitor use the LiDCO PulseCOTM algorithm to determine cardiac output and stroke volume, allowing continuity of measurement across patient acuity levels. ICU Medical announced on its Q1 2016 earnings call that the company plans further refinements of the Cogent system in advance of a full market release. Availability of the noninvasive LiDCO IM system is anticipated for Q3 2016.

Matt Sassone, CEO of LiDCO, commented:  "The USA is the largest and fastest growing market for hemodynamic monitoring and our collaboration with ICU Medical is an important element of expanding our presence there. ICU Medical recognises the importance of being able to offer customers a suite of hemodynamic technologies incorporating LiDCO's technology, so we are pleased to announce this extension to our business relationship."

LiDCO Group Plc	www.lidco.com
Matt Sassone (CEO)	Tel: +44 (0)20 7749 1500
Paul Clifford (Finance Director)
finnCap	Tel: +44 (0)20 7600 1658
Geoff Nash / Emily Watts (Corporate Finance)
Stephen Norcross (Corporate Broking)
Walbrook PR Ltd	Tel: 020 7933 8780 or lidco@walbrookpr.com
Paul McManus	Mob: 07980 541 893
Lianne Cawthorne	Mob: 07584 391 303

About LiDCO Group Plc (www.lidco.com)

LiDCO is a supplier of non-invasive and minimally invasive hemodynamic equipment to hospitals used to monitor the amount of blood flowing around the body and ensure that vital organs are adequately oxygenated. LiDCO's products facilitate the application of hemodynamic optimisation protocols for high risk patients in both critical care units and in the operating theatre. 

Increasingly clinical studies are showing that the optimisation of patients' hemodynamic status in high risk patients produces better outcomes and reduced hospital stay.  LiDCO's computer-based technology, developed at St Thomas' Hospital in London, has been shown to significantly reduce morbidity and complications, length of stay and overall costs associated with major surgery.

Key Products:

LiDCOunity: a hemodynamic monitor that combines the full suite of LiDCO technology (non-invasive, minimally invasive and calibrated technologies) into one platform. Designed to have the flexibility to adapt to a patient's changing acuity, the product enables clinicians to seamlessly transition between non-invasive, minimally invasive and calibrated hemodynamic monitoring.

LiDCOplus: a computer-based platform monitor used in the Intensive Care Unit for real-time continuous display of hemodynamic parameters including cardiac output, oxygen delivery and fluid-volume responsiveness (PPV% and SVV%).

LiDCOrapid: a cardiac output monitor designed specifically for use in the operating theatre for fluid and drug management. The monitor enables anaesthetists to receive accurate and immediate feedback on the patient's fluid and hemodynamic status - a key measure of overall well-being before, during and after surgery.  The LiDCOrapid provides:

·    early and rapid warning of hemodynamic change to aid choice of therapeutic route: fluid or drug

·    quantification of hemodynamic response guidance on effective delivery of fluids to ensure the right amount at the right time

The software incorporated into LiDCOrapid allows the LiDCOrapid monitor to co-display Medtronic's level of consciousness parameter ('BISTM')* and add the convenience of CNSystem's continuous non-invasive blood pressure monitoring ('CNAP')**. This addresses a growing requirement for non-invasive monitoring solutions that are more comprehensive and can effectively replace multiple single parameter monitors. 

LiDCOview: an easy-to-use graphical display of historical LiDCOplus and LiDCOrapid hemodynamic data.

*BISTM and Bispectral Index are trademarks of Medtronic registered in the US and foreign countries.

**CNAPTM is a trademark of CNSystems Medizintechnik AG.

LiDCO monitors use single-patient disposables (sensors or smartcards) which provide an ongoing revenue stream. 

LiDCO Distribution Network:

LiDCO sells directly to hospitals in the UK and USA and through a network of specialty critical care and anaesthesia distributors in the rest of the world.

LiDCO's headquarters are in London and its shares are traded on AIM.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCDMGMKKFZGVZM