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Expansion of LiDCO's Distributor Network
30 January 2008
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: |
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| LiDCO Group Plc |
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Tel: +44 (0)20 7749 1500 |
Terry O’Brien - Chief Executive
Theresa Wallis - Non-Executive Chairman |
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| Buchanan Communications |
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Tel: +44 (0)20 7466 5000 |
| Tim Anderson, James Strong |
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Notes for Editors
About 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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