LiDCO Group Plc AGM Statement (6558E)

TIDMLID

RNS Number : 6558E

LiDCO Group Plc

10 May 2017

LiDCO Group Plc

("LiDCO" or the "Company")

AGM Statement

LiDCO (AIM: LID), the hemodynamic monitoring company, will hold its Annual General Meeting today at 11am at the offices of finnCap, 60 New Broad Street, London, EC2M 1JJ. At the meeting the Chief Executive, Matt Sassone, will make the following statement:

"I am pleased with the progress we are making with our commercial expansion plans. Recruitment is proceeding to plan and since the start of this financial year we have recruited eight, out of the intended thirteen additional sales & marketing FTEs planned for this year. The additional sales & marketing resources are being deployed in the USA, UK, Europe and Middle East.

"Our new monitor LiDCOunity v2, as announced yesterday, has now received CE mark registration and we are commencing our commercial launch in Europe. The FDA 510k review is still progressing and once we have clearance this product will be launched in the US. Built on a new slim widescreen monitor platform the LiDCOunity v2 incorporates the core value proposition of combining the full suite of LiDCO technology into one monitor allowing continuous hemodynamic monitoring across the entire clinical pathway. It also encompasses an updated graphical user interface, new clinical guidance protocols and importantly it includes the new software that enables us to offer our high usage programme.

"We expect the additional investment we are making in our commercial operations, combined with the new monitor and high usage programme will make this a year of significant sales growth. Whilst it is early in our financial year, revenue to date remains in line with Board expectations."

For further information, please contact:

 
 LiDCO Group Plc                                                     www.lidco.com 
 Matthew Sassone (CEO)                                    Tel: [phone] 
 
 finnCap                                                  Tel: [phone] 
 Geoff Nash / Emily Watts (Corporate 
  Finance) 
 Stephen Norcross (Corporate Broking) 
 
 Walbrook PR Ltd                        Tel: [phone] or [e-mail] 
 Paul McManus                                                   Mob: [phone] 
 Anna Dunphy                                                    Mob: [phone] 
 

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, originally 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 (non-invasive, minimally invasive and calibrated technologies) 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 Medtronic's level of consciousness parameter ('BIS(TM') )* 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.

*BIS(TM) and Bispectral Index are trademarks of Medtronic registered in the US and foreign countries.

**CNAP(TM) 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 headquarters are in London and its shares are traded on AIM.

This information is provided by RNS

The company news service from the London Stock Exchange

END

AGMUGUPGAUPMGQB

(END) Dow Jones Newswires

May 10, 2017 02:00 ET (06:00 GMT)