14 Aug 2008 07:00
| Press Release | 14 August 2008 |
LiDCO Group Plc
("LiDCO" or the "Company")
New Loan Agreement and Notice of Results
LiDCO Group Plc (AIM: LID), announces today that, as anticipated in the last annual report, it has replaced the Laurus loan facility. The Company has negotiated a £1.25 million combined overdraft and invoice financing facility with Royal Bank of Scotland (RBS).
Commenting on the financing, Terry O'Brien, (CEO) of LiDCO, said: "Securing of financing with RBS demonstrates confidence in the quality and strength of our business. It will provide the Company with working capital to accelerate our growth as we continue to expand our global sales and distribution partners for the LiDCO products."
The Company also advises that the Interim Results for the six months ended 31 July 2008 will be announced on Thursday 30 October 2008.
An analyst briefing given by Terry O'Brien (Chief Executive) and Paul Clifford (Finance Director), will be held at 9.30 a.m. on the 30th October at Abchurch Communications Ltd, 5th Floor, 100 Cannon Street, London, EC4N 6EU.
- 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, in surgery 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 and PulseCO monitors: these computer-based platforms are 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.
LiDCOrapid provides:
| 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 advantages: - Contributes to reduced morbidity and complications - Reduces length of stay - Reduces overall cost of care |
* LiDCO disposables: used in conjunction with the LiDCOplus Monitor for accurate measurement of cardiac output in a minimally invasive manner
* 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 through partners in the USA, and elsewhere through a worldwide network of speciality critical care and anesthesia distributors.