LID.L Share News (LID)

Cardiovascular monitoring company LiDCO confirmed that it has acquired the existing LiDCOrapid customer base from Covidien, its previous US distribution partner, as it beefs up commercial opportunities in the US. After an initial integration and switch-over period the group expects associated revenues from this customer base to enhance company profit. "The company is continuing discussions with a number of potential partners in the US market and will update shareholders in due course," it said.LiDCO's own direct sales, headquartered near Chicago, has now taken full responsibility for the sale and distribution of all LiDCOrapid products in the US. CEO Dr Terry O'Brien said: "With the above changes to our sales arrangements in the US we are now better placed to drive disposable sales and can now more readily discuss additional commercial opportunities with potential partners in the US market."LiDCO also expects its new product LiDCOrapid v2 to drive increased disposable use in 2013 and beyond after an 'encouraging' response at the American Society of Anesthesia (ASA) annual meeting in Washington, US and the European Society of Intensive Care (ESICM) meeting in Lisbon, Portugal. "This is the first monitor to be designed specifically for multi-parameter monitoring, of depth of anesthesia and fluid management, and set to benefit from two recent NICE recommendations for use in high risk surgery patients," LiDCO explained. CJ