LiDCO: Renewed distribution agreement with Argon Medical
OREANDA-NEWS. LiDCO (AIM: LID), the hemodynamic monitoring company, announces the renewal of its distribution agreement with Argon Medical Devices, Inc ("Argon Medical"). The original agreement came to an end in March 2016 and the new contract is for a total of a further five years. LiDCO will take full sales and marketing responsibility for the existing business of Argon Medical's critical care products in the UK and Ireland.
Argon Medical designs, manufactures and sells single-use specialty medical device disposables. LiDCO will continue to sell Argon Medical's arterial blood pressure monitoring sensors, acute care catheters and extended dwell catheters. In the last financial year, Argon products contributed £1.6 million to the overall sales of LiDCO. These products, which complement and strengthen LiDCO's offering, are well established in the UK and are sold to LiDCO's customer base in the intensive care and surgery markets.
Matt Sassone, CEO of LiDCO, commented: "We are pleased to have renewed this contract. Our relationship with Argon Medical has proved to be very symbiotic over the last five years and we look forward to another period of working together to develop this business."
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, 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.
LiDCOunity: a hemodynamic monitor that combines the full suite of LiDCO technology (LiDCOplus, LiDCOrapid and LiDCOview) 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 Covidien's level of consciousness parameter ('BISTM')* 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.
*BISTM and Bispectral Index are trademarks of Covidien LP registered in the US and foreign countries.
**CNAPTM 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 marketing office is in Cambridge, its manufacturing facility and headquarters are in London and its shares are traded on AIM.