10 Mar 2009 07:00
| Press Release | 10th March 2009 |
LiDCO Group Plc
("LiDCO" or the "Company")
Distribution Expansion in Germany
LiDCO Group Plc (AIM: LID), the cardiovascular monitoring company, is pleased to announce further expansion of its distribution network. The Company has signed a distribution agreement for the sale of its LiDCOrapid Monitor and disposables in Germany with Absolute Medical GmbH & Co. KG based in Ratingen, Germany. With LiDCO's existing north German distribution partner, the agreement gives LiDCO access to the biggest hemodynamic monitoring market in Europe.
With a population of 82 million people, Germany ranks as the third largest medical device market in the world (behind the USA and Japan) and represents 36% by value of the European medical device market. At around 10.6% of GDP, healthcare expenditure in Germany is currently at a high level creating a demand for sophisticated medical equipment which has demonstrated significant improvements in clinical outcome.
Absolute Medical was recently founded by Bradley Gould an experienced CEO with 28 years of experience in the global medical device industry. Absolute Medical's focus is on sales and distribution of advanced medical devices in Germany to hospital acute care, critical care and anaesthesia departments.
Absolute Medical's CEO Mr Bradley Gould commented "We are very excited to have the opportunity to introduce this new technology to the largest European hemodynamic monitoring market. We have great belief in LiDCO's products and are confident that with our deep knowledge of the hemodynamic monitoring market in Germany, we expect to have great success marketing the LiDCOrapid."
Dr Terry O'Brien, CEO LiDCO Group plc, commented: "We are delighted to have further broadened our distribution, which means we now have sales reach to the majority of Europe. The LiDCOrapid is an innovative solution that provides a cost effective, highly accurate solution for monitoring high-risk surgical patients. Working with two distribution partners in Germany means that LiDCO now has full access to the biggest medical device market in Europe."
- ENDS -
For more information please contact:
| LiDCO Group Plc | |
| Terry O'Brien - Chief Executive John Rowland - Company Secretary | Tel: +44 (0)20 7749 1500 |
| www.lidco.com |
| Panmure Gordon and Co | |
| Edward Farmer/ Katherine Roe | +44 (0)20 7459 3600 |
| www.panmure.com |
Media enquiries
| Abchurch Communications | |
| Heather Salmond / Stephanie Cuthbert / Simone Alves | +44 (0)20 7398 7728 |
| simone.alves@abchurch-group.com | www.abchurch-group.com |
About LiDCO Group Plc
LiDCO is a leading supplier of minimally invasive hemodynamic monitoring equipment and disposables. These are used primarily for the management of hospital patients requiring critical care or at major cardiovascular risk. LiDCO's computer-based technology significantly reduces 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. LiDCO is based in the UK and its shares are traded on AIM. For more information please see www.lidco.com.
The Company's manufacturing facility is in Hoxton, London and its current products are:
* LiDCOplus is 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 (PPV% and SVV%)
* LiDCOrapid: our new cardiac output monitor designed specifically for use in the Operating Theatre for fluid and drug management at the point of care. The monitor features many clinical benefits. These enable acute care physicians to get accurate and immediate feedback on the patient's fluid and hemodynamic status - a key measure of overall well-being during and after surgery.
| Early and rapid warning of change | |
| Clear indication of therapeutic route: fluid or drug | |
| Quantification of hemodynamic response, particularly stroke volume | |
| Permits more effective delivery of fluids - the right amount at the right time | |
| Advanced hemodynamic care has been shown to: - Contribute to reduced morbidity and complications - Reduce length of stay - Reduce overall cost of care |
* LiDCO single patient use disposables used in conjunction with the LiDCOplus and LiDCOrapid Monitors.
* LiDCOview: an easy-to-use graphical display of historical LiDCOplus hemodynamic data. Both clinical researchers and routine users can view beat-to-beat hemodynamic data collected with the LiDCOplus. LiDCOviewSE is the standard version of this tool and is available for free, allowing anyone to download and access data from the LiDCOplus. LiDCOviewPRO is the Professional version, allowing users to analyse, export and report the LiDCOplus data. A free trial of LiDCOviewPRO is available for evaluation purposes prior to purchase
* LiDCOlive: a software product in development for the remote display of hemodynamic monitoring parameters derived through use of the LiDCOplus or LiDCOrapid monitors
LiDCO Distribution Network:
The Company sells direct in the UK, direct and elsewhere through a worldwide network of speciality critical care and anesthesia distributors.