24 Mar 2016 07:00
LIDCO GROUP PLC
("LiDCO" or the "Company" or "the Group")
Master distribution agreement for sub-Saharan Africa
& new distributors for India and Malaysia
LiDCO (AIM: LID), the hemodynamic monitoring company, announces that it has signed a master distribution agreement for LiDCO products with LOK Corporation covering a number of territories across sub-Saharan Africa. This announcement follows on from the agreement signed with LOK Corporation for Canada which was announced in the Company's Trading Update issued on 8 February 2016.
This new 3 year agreement covers a number of countries in Southern Africa, namely Botswana, Kenya, Mozambique, Namibia, Nigeria, Lesotho, South Africa, Swaziland, Tanzania and Zimbabwe. LOK Corporation will actively promote the LiDCO product range and take responsibility for distributor management in those countries, as well as undertake the co-ordination of regulatory and registration requirements needed in each territory.
This agreement is a further extension of the Company's new approach to global marketing and distribution management, and aligns with the master distribution agreement signed with Fieldman Medical in November 2015, which has seen LiDCO products marketed across numerous territories in South East Asia & Australia.
In addition, the Company has sought to engage distributors in key markets such as India and Malaysia. The Company has recently appointed two partners in these regions, both with a strong knowledge of their respective local markets, and these distributors have now taken delivery of LiDCO products and are actively marketing them.
Commenting Matt Sassone, Chief Executive Officer, said:
"As I communicated to investors in our Half Yearly Report, we expect that geographical expansion will remain the biggest driver of future growth for LiDCO and accordingly we are keenly expanding our distribution network globally. We are delighted to extend our relationship with LOK to include Africa as well as Canada, and we recognise that India and Asia present great opportunities for us as the benefits of hemodynamic monitoring are being adopted globally more and more."
LiDCO Group Plc | www.lidco.com |
Matt Sassone (CEO) | Tel: +44 (0)20 7749 1500 |
Paul Clifford (Finance Director) |
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finnCap | Tel: +44 (0)20 7600 1658 |
Geoff Nash / Emily Watts (Corporate Finance) |
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Stephen Norcross (Corporate Broking) |
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Walbrook PR Ltd | Tel: 020 7933 8780 or lidco@walbrookpr.com |
Paul McManus | Mob: 07980 541 893 |
Lianne Cawthorne | Mob: 07584 391 303 |
About LiDCO Group Plc (www.lidco.com)
LiDCO is a supplier of non-invasive and minimally invasive hemodynamic equipment to hospitals used 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:
LiDCOunity: a hemodynamic monitor that combines the full suite of LiDCO technology (LiDCOplus, LiDCOrapid and LiDCOview) into one platform. Designed to have the flexibility to adapt to a patient's changing acuity, the product enables clinicians to seamlessly transition between non-invasive, minimally invasive and calibrated hemodynamic monitoring.
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 receive 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
The software incorporated into LiDCOrapid allows the LiDCOrapid monitor to co-display Covidien's level of consciousness parameter ('BISTM')* and add the convenience of CNSystem's continuous non-invasive blood pressure monitoring ('CNAP')**. This addresses a growing requirement for non-invasive monitoring solutions that are more comprehensive and can effectively replace multiple single parameter monitors.
LiDCOview: an easy-to-use graphical display of historical LiDCOplus and LiDCOrapid hemodynamic data.
*BISTM and Bispectral Index are trademarks of Covidien LP registered in the US and foreign countries.
**CNAPTM is a trademark of CNSystems Medizintechnik AG.
LiDCO monitors use single-patient disposables (sensors or smartcards) which provide an ongoing revenue stream.
LiDCO Distribution Network:
LiDCO sells 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 marketing office is in Cambridge, its manufacturing facility and headquarters are in London and its shares are traded on AIM.