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23 Aug 2011 07:00
Press Release | 23 August 2011 |
LIDCO GROUP PLC
("LiDCO" or the "Company")
Pre- close trading update
LiDCO Group Plc (AIM: LID), the cardiovascular monitoring company, is pleased to provide an update on trading for the six months ended 31 July 2011 ahead of its Interim Results, which will be announced on Wednesday 26 October 2011.
The Board expects that these results will show revenue for the period to have increased by approximately 18% to in excess of £3.1 million and the loss to be significantly reduced compared to the same period last year. Cash at the end of the period was approximately £1.1 million and the Company expects to see further revenue growth in the second half.
Dr Terry O'Brien, CEO of LiDCO, commented: "We are pleased to be reporting another period of strong financial progress for the Company. Furthermore, during the period we have signed three distribution and licensing arrangements with Argon Medical Devices Inc, Argon Medical Devices Japan and ICU Medical Inc., providing access to the largest markets globally. These collaborations both extend our hemodynamic monitoring product range sold by our own direct sales force to customers in the UK and adds to our growing base of marketing partners.
"We are successfully implementing our strategy to expand our sales in export markets through collaborations with major corporate partners who have a strategic interest in the $1.2 billion hemodynamic monitoring market growth opportunity in critical care and high risk surgery patients."
- Ends -
For further information, please contact:
LiDCO Group Plc | |
Terry O'Brien (CEO) | Tel: +44 (0)20 7749 1500 |
Paul Clifford (Finance Director) | |
John Rowland (Company Secretary) | www.lidco.com |
FinnCap | |
Geoff Nash / Henrik Persson Stephen Norcross (broking) | Tel: +44 (0)20 7600 1658 www.finncap.com |
Media enquiries:
Abchurch | |
Adam Michael / Joanne Shears / Jamie Hooper | Tel: +44 (0) 20 7398 7719 |
jamie.hooper@abchurch-group.com | www.abchurch-group.com |
About LiDCO Group Plc
LiDCO is a supplier of minimally invasive hemodynamic equipment to hospitals, 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 optimization protocols for high risk patients in both critical care units and in the operating theatre.
Increasingly clinical studies are showing that the optimization 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:
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 anesthetists to get 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 |
LiDCOview: an easy-to-use graphical display of historical LiDCOplus and LiDCOrapid hemodynamic data. | |
All LiDCO monitors use single-patient disposables (sensors or smartcards) which provide an ongoing revenue stream.
Clinical Validation & Education
LiDCO has been selected as the sole technology for two ongoing multi-centre government-funded studies in the UK and US. OPTIMISE is sponsored by the UK Government for optimizing cardiovascular management in high-risk abdominal surgery patients and in the US, MOnIToR is a US Government sponsored transplantation donor organ optimization study. The Company has also developed a hemodynamic workshop at St George's Hospital, London.
LiDCO Distribution Network:
LiDCO's strategy is to sell directly to hospitals in the UK, and through a network of specialty critical care and anesthesia distributors in the rest of the world.
LiDCO's sales office is in Cambridge, its manufacturing facility and headquarters are in London and its shares are traded on AIM. For more information please see www.lidco.com.
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