9 May 2007 07:00
For Immediate Release 9th May 2007
LiDCO Group Plc ('the Company') Approval of LiDCO Products in South Korea
LiDCO, the UK based, AIM-quoted cardiovascular monitoring company today announces the approval of the LiDCOplus Monitor and associated disposables in South Korea.
Background to the market: With a population of 50 million and a GDP equivalent to that found in central Europe, South Korea is an important Asian destination for foreign medical devices Its total medical device market in 2005 was about $2.5 billion. A significant proportion of the population has access to high-end medical treatments provided through a universal healthcare system and welfare state. Korean hospitals are generally well equipped, and medical staff are highly trained. The market has always been receptive to imported products.
Medical products sold in South Korea must obtain pre-market approval from the Korea Food & Drug Administration (KFDA). Through working with our distribution partner (Hanmi Pharm. Co., Ltd), we have obtained KFDA approval of the LiDCOplus Monitor and LiDCO System disposables for sale. Product approval will be followed up with a request for hospital reimbursement through the Korean Health Insurance Review Agency (HIRA). Sales within this territory are expected during 2007.
Dr Terry O'Brien, CEO LiDCO Group Plc said: "South Korea is a very important new territory for LiDCO - we are delighted to have achieved registration of our products and look forward to developing the market for our minimally invasive monitoring technology in collaboration with our distribution partner. We now have registration of our products in a total of 18 territories worldwide. "
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For more information please contact:
LiDCO Group Plc Tel: +44 (0)20 7749 1500
Terry O'Brien - Chief Executive
Buchanan Communications Tel: +44 (0)20 7466 5000
Tim Anderson, James StrongNotes for EditorsAbout LiDCO Group Plc
LiDCO is a UK-based AIM-traded developer, manufacturer and leading supplier of minimally invasive, computer-based hemodynamic monitoring equipment and disposables used primarily for the management of critical care and cardiovascular risk hospital patients. Use of LiDCO's technology has been shown to significantly reduce the complications (particularly infections) and costs associated with major surgery. The technology was invented in the Department of Applied Physiology based at St Thomas' Hospital, London.
The Company's manufacturing facility is in Hoxton, London and its current products are:
* LiDCOplus and PulseCO monitors: computer-based platforms for displaying a range of real-time, continuous hemodynamic parameters including cardiac output, oxygen delivery and fluid volume;
* LiDCO disposables: used in conjunction with the LiDCOplus Monitor to accurately determine cardiac output in a minimally-invasive manner.
* LiDCOview - software product for use on a PC: designed to aide clinical audit, teaching and research activities.
* LiDCOlive - software product in development for the remote display of hemodynamic monitoring parameters derived through use of the LiDCOplus monitor.
Distribution Network:
The Company has now achieved registration of its products in 14 markets in Europe, the USA, Brazil, Japan and South Korea. It sells direct in the UK and USA, and elsewhere through a worldwide network of specialty critical care distributors.
LIDCO GROUP PLC