LID.L Regulatory News (LID)

LiDCO Group Plc

("LiDCO" or the "Company")

AGM Statement

LiDCO Group Plc (AIM: LID), the cardiovascular monitoring company, will hold its Annual General Meeting today at the offices of finnCap, 60 New Broad Street, London, EC2M 1JJ on Wednesday 12 June 2013 at 11:00am. At the meeting Terry O'Brien, Chief Executive Officer of LiDCO, will provide shareholders with the following update:

I am very pleased to report that our expectation of significant sales growth in 2013, referred to in our Preliminary Results statement in April, has been underpinned by a strong overall performance in the year to date. Total revenue for the four months to 31 May 2013 was up 33% on the same period last year and so we remain confident of meeting market expectations for the full year.

The increasing support for fluid monitoring within our UK domestic market, which accounted for 68% of our total turnover last year, has been very encouraging and this has converted into continued sales growth in the year to date. UK market sales (excluding third party distributed sales) were significantly up year-on-year, with 59 monitor units installed in the period compared with 16 units in the same period last year. Since launch we have already installed in the UK 28 CNAP™ non-invasive blood pressure modules which we believe will prove to be a key differentiator for our product. A number of our UK sales in the period have been to NHS hospitals using LiDCO products for the first time, and we expect to see our customer base continue to broaden with NHS guidelines encouraging the wider adoption of intra operative fluid management technology. Sales of UK surgical disposables continue to grow, with unit sales up 83% on the same period last year. We believe that the total UK market for our disposables could potentially be worth over £45m and that the Company is well placed with our new products and a growing evidence base to capture a substantial part of this.

The increasing success within our own domestic market provides us with a strong platform to exploit the international demand for our products. We continue to target US revenue growth from our existing installed base through our growing US sales team, and we are in discussions with potential distribution partners to expand this base. We have also seen an increased interest from distributors from other territories in our new product and will update shareholders as this develops.

The year to date results demonstrate our growth potential and we anticipate that the Company will be both cash generative and profitable this year.

For further information, please contact:

About LiDCO Group Plc (www.lidco.com)

LiDCO is a supplier of non-invasive and minimally invasive hemodynamic equipment to hospitals, 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:

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 get 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

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

LiDCO Unity Software: The software incorporated into LiDCOrapid v2 allows the LiDCOrapid monitor to co-display Covidien's level of consciousness parameter and add the convenience of CNSystem's* continuous non-invasive blood pressure monitoring. This will address a growing requirement for non-invasive monitoring solutions that are more comprehensive and can effectively replace multiple single parameter monitors. 

* CNAPTM is a trademark of CNSystems Medizintechnik AG.

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

LiDCO Distribution Network:

LiDCO's strategy is to sell 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 sales office is in Cambridge, its manufacturing facility and headquarters are in London and its shares are traded on AIM.