LiDCO Group Plc Significant US & UK HUP wins (9345E)
February 15 2018 - 1:00AM
UK Regulatory
TIDMLID
RNS Number : 9345E
LiDCO Group Plc
15 February 2018
LiDCO Group Plc
("LiDCO" or the "Company")
Significant US & UK HUP wins
LiDCO (AIM: LID), the hemodynamic monitoring company, announces
it has had further success with its recently launched
differentiated High Usage Programme (HUP) business model. HUP is
building momentum after its launch in July 2017, and to date has a
global installed base of 96 monitors with total annualised revenue
in excess of GBP0.7m.
The Company has signed its second significant US customer, a
major research hospital located in California. The customer is part
of the five medical centre University of California healthcare
system. At this stage, the customer has agreed to take 14 monitors
covered by a multi-year agreement. This now brings the number of
HUP monitors in the US to 58 and when annualised these HUP
recurring revenues now represent in excess of $0.6m. The
incremental impact of these two HUP wins in the US translates to a
39% uplift in recurring revenues from the year ended 31 January
2018 onwards.
After experiencing significant positive customer feedback to HUP
globally, HUP has been launched selectively in the Company's home
UK market, with LiDCO's largest UK customer signing up to 21 HUP
monitors under a three year agreement, paid annually in advance.
The intention is to evaluate the healthcare benefits and financial
savings which derive from treating more patients with hemodynamic
monitoring whilst capping their financial spend to the NHS. The
Board believes that by demonstrating this innovative approach with
a select group of customers it will enable a greater expansion of
its technology and improve patient care and save overall costs of
healthcare in the current restricted spending climate of the
NHS.
Outside of its two direct markets, HUP has been launched in a
few selected countries. The Company continues to be encouraged by
market feedback to its differentiated offering as it looks to
increase market size and take increased share by targeting the
highest users of advanced hemodynamic monitoring.
More information about LiDCO products can be found on the
Company's website www.lidco.com
Commenting on the success of the Company's HUP, Matt Sassone,
Chief Executive Officer of LiDCO, said: "We continue to make
encouraging progress with our HUP offering globally. The US is our
main focus and our pipeline of opportunities continues to increase.
Winning our second significant customer is another endorsement of
our approach and will help accelerate the speed of conversion of
other prospects in this large and growing market."
This announcement contains inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR").
For further information, please contact:
LiDCO Group Plc www.lidco.com
Matt Sassone (CEO) Tel: +44 (0)20 7749 1500
Jill McGregor
finnCap Tel: +44 (0)20 7600 1658
Geoff Nash / Emily Watts
(Corporate Finance)
Stephen Norcross (Corporate
Broking)
Walbrook PR Ltd Tel: 020 7933 8780 or
lidco@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Cawthorne Mob: 07584 391 303
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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