30th Jan 2008 07:00
For Immediate Release 30th January 2008 LIDCO GROUP PLC ("LiDCO" or "the Group") Expansion of LiDCO's Distributor Network
LiDCO, the UK based, AIM-quoted cardiovascular monitoring company, today announces the appointment of Vitaid Limited ("Vitaid") as its exclusive distributor for Canada.
The medical devices market in Canada is the seventh largest in the world with approximately 85% of the market supplied by imports [Espicom report: The Medical Device Market: Canada, 2007]. Vitaid has been a supplier to the medical community of Canada for over 30 years and is a leader in the import, marketing and distribution of sophisticated medical devices to hospital anesthesia, critical care and emergency departments.
Will Stewart, CEO of Vitaid, said about the collaboration "Vitaid is excited to be the exclusive Canadian distributor for LiDCO cardiac output monitoring devices. LiDCO is pioneering the development of minimally invasive monitoring for goal directed therapy in the acute care setting."
Dr Terry O'Brien CEO LiDCO Group plc commented "We are very pleased to announce this new exclusive distribution partnership. Canada is a valuable market for our technology. We are looking forward to working with Vitaid to establish sales of our minimally invasive hemodynamic monitoring products. In particular we are looking forward to selling our new and forthcoming monitor - the LiDCOrapid into the Canadian high-risk surgery market. Worldwide we estimate that surgical hemodynamic monitoring represents a potential annual revenue opportunity of over ‚£400 million. The LiDCOrapid is the first hemodynamic monitor developed specifically to improve outcomes in surgery. In order to more fully access this market opportunity, further appointments to LiDCO's distributor network are anticipated during 2008."
For more information please contact:
LiDCO Group Plc Tel: +44 (0)20 7749 1500
Terry O'Brien - Chief Executive Theresa Wallis - Non-Executive Chairman
Buchanan Communications Tel: +44 (0)20 7466 5000 Tim Anderson, James Strong Notes for EditorsAbout LiDCO Group Plc
LiDCO is a UK-based AIM-traded developer, manufacturer and leading supplier of minimally invasive, computer-based hemodynamic monitoring equipment and disposables used primarily for the management of critical care and cardiovascular risk hospital patients. Use of LiDCO's technology has been shown to significantly reduce the complications (particularly infections) and costs associated with major surgery. The technology was invented in the Department of Applied Physiology based at St Thomas' Hospital, London. For more information please see www.lidco.com.
The Company's manufacturing facility is in Hoxton, London and its current products are:
* LiDCOplus and PulseCO monitors: computer-based platforms for displaying a range of real-time, continuous hemodynamic parameters including cardiac output, oxygen delivery and fluid volume (PPV and SVV).
* LiDCO disposables: used in conjunction with the LiDCOplus Monitor to accurately determine cardiac output in a minimally-invasive manner.
* LiDCOview - software product for use on a PC: designed to aid clinical audit, teaching and research activities.
* LiDCOlive - software product in development for the remote display of hemodynamic monitoring parameters derived through use of the LiDCOplus monitor.
Distribution Network:
The Company has now achieved registration of its products in 14 markets in Europe, the USA, Brazil, South Korea and Japan. It sells direct in the UK and USA, and elsewhere through a worldwide network of speciality critical care and anesthesia distributors.
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