5 Oct 2009 07:00
| Press Release | 5 October 2009 |
LiDCO Group Plc
("LiDCO" or the "Company")
Welcomes Covidien acquisition of Aspect Medical Systems
LiDCO Group Plc (AIM: LID), the cardiovascular monitoring company, welcomes the announcement that Covidien (NYSE: COV), a leading global healthcare products company, has entered into a definitive agreement to acquire Aspect Medical Systems, Inc ("Aspect") for approximately $210 million, net of cash and short-term investments. In July 2009, LiDCO announced that it had signed an exclusive USA distribution and licensing agreement for the LiDCOrapid Monitor with Aspect. Initial sales feedback from the USA market has been very positive. The terms of the agreement remain unaltered by the proposed change in ownership.
Commenting on the acquisition, Terry O'Brien, Chief Executive of LiDCO, said: "This is very exciting news for LiDCO. This means that our US partner will be part of a truly global medical and surgical devices company. Covidien will have access to LiDCO's leading hemodynamic monitoring product which is complementary to their existing Oximetry and Monitoring product lines."
Further information
Covidien Announces Definitive Agreement to Acquire Aspect Medical Systems, Inc.
- 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 |
| FinnCap | |
| Geoff Nash / Marc Young / Stephen Norcross | +44 (0)20 7600 1658 www.finncap.com |
Media enquiries
| Abchurch Communications | |
| Heather Salmond / Stephanie Cuthbert / Simone Alves | +44 (0)20 7398 7728 www.abchurch-group.com |
| simone.alves@abchurch-group.com |
About LiDCO Group Plc
LiDCO is a supplier of minimally invasive hemodynamic monitoring equipment and disposables to hospitals. These products 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 responsiveness (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. These benefits are:
| 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 - Reduced length of stay - Reduced 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.
LiDCO Distribution Network:
The Company sells direct to hospitals in the UK, and elsewhere through a worldwide network of speciality critical care and anesthesia distributors.