LID.L Regulatory News (LID)

14 Oct 2005 13:39

LiDCO GROUP PLC ("LiDCO" or "the Company") Appointment of new Group Non Executive Director LiDCO Group plc, (AIM: LID) the UK-based cardiovascular monitoring company, ispleased to announce the appointment of Ian Brown as Non Executive Director ofthe Group with effect from 12th October 2005.For the past 25 years, Mr Brown, aged 49, has worked exclusively in the medicaldevices industry and has extensive experience of developing and introducing newmedical devices to the market in the UK and overseas. Between 1986 and 2003, hewas involved as an Executive Director and shareholder in a medical device startup company (Novamedix Ltd), initially as Sales and Marketing Director and lateras Managing Director. In his early career Mr Brown worked in a number of UK andinternational sales and marketing positions for Johnson & Johnson, SmithsIndustries and Pharmacia. Mr Brown is also a shareholder and Director of Medical Now Limited, a companythat offers cancer screening services. No other details are required to bedisclosed under paragraph (g) schedule 2 of the AIM Rules with respect to MrBrown.Commenting on today's announcement, Dr Terry O'Brien, Chief Executive of LiDCOsaid: "I am delighted to welcome Ian to the Board of LiDCO. Ian has worked inthe medical device industry for 25 years and has a broad experience ofoperational, strategic and corporate finance matters. This combination ofexperiences coupled to his knowledge of the healthcare markets around theworld, will be particularly valuable as LiDCO moves into the next stage of itsgrowth and commercial development."Ian Brown said: "I am joining LiDCO at an exciting time for the Company and Iam impressed by the clinical strength of LiDCO's product, and by the company'sgrowing international distribution network and registration portfolio." For further information please contact:LiDCO Group Plc Terry O'Brien (CEO) terry@lidco.com 020 7749 1500 Buchanan Communications Tim Anderson, Mary-Jane Johnson, James Strong 020 7466 5000 Panmure Gordon Grant Harrison, Aubrey Powell 020 7459 3600 Notes for EditorsAbout LiDCO Plc LiDCO is a UK-based AIM-traded developer, manufacturer and leading supplier ofminimally invasive, computer-based hemodynamic monitoring equipment anddisposables used primarily for the management of critical care andcardiovascular risk hospital patients. Use of LiDCO's technology has been shownto significantly reduce the complications (particularly infections) and costsassociated with major surgery The technology was invented in the Department ofApplied Physiology based at St Thomas' Hospital, London where the Companymaintains a research base.The Company's manufacturing facility is in Hoxton, London and its currentproducts are:¯â‚¬­ 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; ¯â‚¬­ LiDCO disposables: accurately determine cardiac output in a minimally invasive manner. Distribution Network:The Company has achieved registration of its products in 13 markets in Europe,the USA and Japan. It sells direct to the NHS in the UK, and through aworldwide network of specialty critical care distributors.Background to the recently published clinical trial: Better than standard care- (EGDT) improves outcome in high risk surgery patients:The results of a major trial at St George's Hospital, London using LiDCO'sminimally invasive monitoring technology were presented during the 25thInternational Symposium on Intensive Care and Emergency Medicine in Brussels(21st to 25th March). The results have revealed the following:a) Savings in the cost of treating patients amounting to an average of ‚£4,000per patient. Extrapolated nationally, this would equate to a saving of ‚£500million per annum for the NHSb) The monetary saving (‚£248,000) - resulted from 640 hospital days saved for62 patients, an average of more than 10 bed days per patientc) The savings in cost and time were associated with a significant reduction inmedical complications (particularly infections - which were halved) through theuse of LiDCO's minimally invasive technology to improve tissue oxygen levelsfollowing surgery.ENDLIDCO GROUP PLC