LID.L Share News (LID)

LiDCO, a cardiovascular monitoring company, said Wednesday that the US Food and Drug Administration (FDA) has cleared its CNSystems' continuous non-invasive blood pressure monitoring module for sale. The software enables the connection of modules to the LiDCOrapid cardiac output monitor allowing it to co-display the blood pressure reading with Covidien's depth of anaesthesia parameter. The company said it believes there is growing demand for a multi-parameter monitor display which can reduce the number of single parameter monitors by the patient bedside.It estimated that 3.4m patients would be suitable for peri-operative hemodynamic monitoring in the US alone and believes that with the FDA clearance the commercial opportunity to build its presence in the States is "substantial". LiDCO received CE marking for sales in Europe of the LiDCOrapid with both modules in February 2013 and FDA clearance for the LiDCOrapid with the depth of anaesthesia parameter in March 2013.Chief Executive Terry O'Brien said: "I am delighted we have met this key milestone in our strategy for expanding our presence in the US intraoperative fluid monitoring market. "This approval has increased LiDCO's market opportunity considerably and we expect that by further increasing the breadth of monitoring displayed on the LiDCOrapid we will make our products more attractive, particularly in response to an increasing requirement within hospitals to move towards multi parameter monitors."NR