LiDCO Group Plc Capital Markets Day & US progress update (1984O)
May 16 2018 - 1:00AM
UK Regulatory
TIDMLID
RNS Number : 1984O
LiDCO Group Plc
16 May 2018
LiDCO Group Plc
("LiDCO" or the "Company")
Capital Markets Day & US progress update
Two new US HUP contract wins
LiDCO (AIM: LID), the hemodynamic monitoring company, is hosting
a Capital Markets Day for investors today at its HQ London 16
Orsman Road, London, N1 5QJ. The presentations will be available
later today on the Company's website
http://www.lidco.com/investors/presentations/. Except as set out
below, no new material price sensitive information will be
provided.
Ahead of the Capital Markets Day today LiDCO provides the
following update on US progress. The Company has had further
success contracting two additional customers to its recently
launched differentiated High Usage Programme (HUP) business model.
HUP is building momentum after its launch in July 2017, and to date
the Company now has four significant US customers.
The two latest customers to sign multi-year contracts are a
Level 1 trauma centre in New York and a 1000+ bed hospital in the
Mid-West. Whilst the initial orders are for eight monitors in
total, the Company expects this to grow significantly as the two
hospitals fully recognise the benefits of its technology and the
unlimited use programme. Both of these customers have the scope to
become substantial contracts over their term. This brings the total
number of HUP monitors in the US to 66 units.
If you haven't already registered and would like to attend today
please register with Walbrook PR on the number below or email
lidco@walbrookpr.com
Commenting on the US progress, Matt Sassone, Chief Executive
Officer of LiDCO, said: "HUP is having a transformational impact on
our US sales and even with the initial success that we have had so
far, year to date recurring revenues are up 95% in local currency
versus prior year. We continue to be encouraged by the positive
response to our HUP offering. The pipeline of opportunities
continues to increase and as we accelerate the speed of conversion
of other prospects in this large and growing market, we are
confident that we can take further market share."
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 (CFO)
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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