LiDCO Group Plc UK distribution agreement with Maicuff Technology (0803V)

TIDMLID

RNS Number : 0803V

LiDCO Group Plc

19 July 2018

LiDCO Group Plc

("LiDCO" or the "Company")

UK distribution agreement with Maicuff Technology Ltd

LiDCO (AIM: LID), the hemodynamic monitoring company, announces it has entered into an exclusive UK distribution agreement with Maicuff Technology Ltd ("Maicuff") to take full distribution responsibilities for Maicuff's extensive range of Non Invasive Blood Pressure (NIBP) disposable products in the UK. The three-year agreement is effective immediately.

LiDCO will introduce these products to the UK market. With increased focus on infection control, the UK market is experiencing significant growth in disposable NIBP cuffs as the market moves away from using reusable NIBP cuffs in high risk areas. LiDCO's management estimate that the market for disposable NIBP cuffs is currently in the order of GBP10 million per annum and growing.

Maicuff manufactures in the Jiangsu Province, China and has been established since 2007. Its products are sold in numerous countries in Europe.

Commenting on the new distribution agreement, Matt Sassone, Chief Executive Officer of LiDCO, said: "As previously communicated, LiDCO intends to use its market leading position and excellent sales coverage in the UK to distribute a number of synergistic products with attractive margins. The first example of this is Maicuff, and initial discussions with a number of our key customers have been extremely positive. We anticipate that LiDCO can gain significant traction in this expanding markets by combining Maicuff's excellent product portfolio with LiDCO's extensive contacts and product area knowledge."

For further information, please contact:

 
 LiDCO Group Plc                                                    www.lidco.com 
 Matt Sassone (CEO)                                      Tel: [phone] 
  Jill McGregor (CFO) 
 
 finnCap                                                 Tel: [phone] 
 Geoff Nash / Emily Watts (Corporate 
  Finance) 
 Stephen Norcross/Andrew Burdis 
  (Corporate Broking) 
 
 Walbrook PR Ltd                       Tel: [phone] or [e-mail] 
 Paul McManus                                                  Mob: [phone] 
 Lianne Cawthorne                                              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. Version 2 of this software is only available on a new slim widescreen monitor and includes the optional high usage program software in selected markets.

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.

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.

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July 19, 2018 02:00 ET (06:00 GMT)