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29 Jul 2008 07:00
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Press Release |
29 July 2008 |
LiDCO Group Plc
("LiDCO" or the "Company")
US distribution agreement
LiDCO Group Plc (AIM: LID), the cardiovascular monitoring company, is pleased to announce it has signed an exclusive distribution agreement with US speciality distributor KOL Bio Medical Instruments (KOL) for the sale of the LIDCOrapid Monitor in certain territories in the US.
It is estimated that the American market for minimally invasive hemodynamic monitoring market for high risk surgery is currently valued at US$238m.
KOL is a 37 year old speciality distributor of medical technology with extensive experience of selling hemodynamic monitoring equipment. The company has a 15 strong specialist sales team and currently supplies to 21 states on the Eastern side of the USA. LiDCO also distributes to other parts of the USA via its own sales force of 5 people. This combined and significantly enlarged sales force gives LiDCO access to more than 40% of US market. LiDCO expects there will be additional distributor appointments for the states not currently covered by either sales force.
Timothy McInerney CEO of KOL (www.kolbio.com) said: "We have been very impressed with the LiDCOrapid Monitor. We have seen an increased demand from the US healthcare market for an easy to use, minimally invasive, precise hemodynamic monitoring product for surgery. The release of the LiDCOrapid is very timely, since the continuing downward trend in the use of thermodilution catheters has left many US physicians without an effective way to monitor and manage the key variables associated with optimal hemodynamic performance. The minimally invasive LiDCOrapid provides the perfect dashboard for assessment and control of these critical parameters in medium to high risk patients. It appears to be the perfect solution at a perfect time."
Dr Terry O'Brien, CEO of LiDCO, commented: "I am delighted to be working with KOL. The company has an eminent reputation and for some time has been one of the leading medical distributors in the US. Together with KOL we have seen strong interest for the LIDCOrapid Monitor in the US, since we launched in April this year. I anticipate that this partnership will be very productive for both companies."
- ENDS -
For more information please contact:
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LiDCO Group Plc |
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Terry O'Brien - Chief Executive John Rowland - Company Secretary |
Tel: +44 (0)20 7749 1500 |
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www.lidco.com |
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Panmure Gordon and Co |
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Edward Farmer/ Katherine Roe |
+44 (0)20 7459 3600 |
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www.panmure.com |
Media enquiries
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Abchurch Communications |
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Heather Salmond / Stephanie Cuthbert / Simone Alves |
+44 (0)20 7398 7728 |
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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 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:
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Early and rapid warning of change |
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Clear indication of therapeutic route: fluid or drug |
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Quantification of hemodynamic response, particularly stroke volume |
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Permits more effective delivery of fluids - the right amount at the right time |
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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.
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