16th May 2016 07:28
LONDON (Alliance News) - Hemodynamic monitoring company LiDCO Group PLC on Monday said it has signed a US distribution deal with partner ICU Medical Inc.
Under the agreement, US medical technology company ICU will sell LiDCO's IM non-invasive hemodynamic monitoring system in the US market. The system is set to be made available in the third quarter of this year.
No financial details on the project were disclosed. The pair have an existing royalty agreement in place allowing ICU to incorporate LiDCO technology into its Cogent hemodynamic system.
"The USA is the largest and fastest growing market for hemodynamic monitoring and our collaboration with ICU Medical is an important element of expanding our presence there," said LiDCO Chief Executive Matt Sassone.
LiDCO shares were up 8.1% Monday morning to 8.65 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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