LiDCO Group Plc HUP progress update (2402S)
08 March 2019 - 6:00PM
UK Regulatory
TIDMLID
RNS Number : 2402S
LiDCO Group Plc
08 March 2019
LiDCO Group Plc
("LiDCO" or the "Company")
HUP progress update
Significant new US HUP contract win
LiDCO (AIM: LID), the hemodynamic monitoring company, announces
that it has had further success in the USA contracting a large
public university medical centre in Southern California to its
differentiated High Usage Programme (HUP) business model. The
customer has signed a five-year agreement for 15 monitors, fully
converting from their current hemodynamic monitoring provider.
The centre is a recognised thought leader in the US in the
treatment of Sepsis, the leading cause of death in hospitals and
re-admissions. Sepsis is the number one cost of hospitalisation in
the U.S. estimated at more than $27 billion each year(1) . LiDCO's
technology has been strongly associated with successful treatment
protocols for this patient population and there are a number of
clinical papers demonstrating the benefits of using LiDCO
technology within this patient group. In one such study(2) , Hata
et al investigated the mortality of 237 patients who developed
Sepsis, the research group concluded using the LiDCO technology in
this high-risk patient group reduced mortality by 24% through
better management and early detection.
HUP continues to build momentum in the US. Since the start of
the calendar year the Company has now won three new HUP customers,
signing contracts for 38 monitors with an annualised revenue of
$0.5m. Since launching the HUP programme in July 2017, the Company
now has 129 HUP monitors in the US generating contracted annualised
recurring revenues in excess of $1.5m. This greatly enhances
revenue visibility and reduces the challenges of closing orders
around the year-end.
Commenting on the US progress, Matt Sassone, Chief Executive
Officer of LiDCO, said: "HUP is having a transformational impact on
our US sales. The feedback to this differentiated offering is
excellent. We have learnt to better manage the lengthy purchasing
cycles and it's excellent to see a strong start to the year as we
make further progress in converting the large pipeline of
opportunities. This win is another endorsement of our ability to
take further market share and build a recurring revenue base in the
world's largest medical device market."
(1) Trends in Hospital Inpatient Stays in the United States,
2005-2014 McDermott et al June 2017
(2) Hata J, Stotts C, Shelsky C, Bayman E, Frazier A, Wang J,
Nickel E. Reduced mortality with noninvasive hemodynamic monitoring
of shock. J Crit Care. 2011;26(2):224.E1
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.
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END
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