LiDCO Group Plc Regulatory approval in South Korea (4044W)
17 April 2019 - 4:00PM
UK Regulatory
TIDMLID
RNS Number : 4044W
LiDCO Group Plc
17 April 2019
LiDCO Group Plc
("LiDCO" or the "Company")
Regulatory approval in South Korea
LiDCO (AIM: LID), the hemodynamic monitoring company, announces
that it has received regulatory approval for LiDCOrapid (v3) , the
Company's latest cardiac output monitor with non-invasive
technology, for commercial sale in South Korea.
The Korean Ministry of Food and Drug Safety has formally
approved the Company's hemodynamic monitoring product for
commercial sale in South Korea and it will be sold via LiDCO's
distribution partner Globaluck Ltd, a medical device sales group
specialising in anesthesia and patient monitoring.
South Korea's healthcare market is ranked fourth (by total
medical device market size) among countries in the Asia-Pacific
region. The country has an established hemodynamic monitoring
market with local reimbursement already in place. LiDCO, via its
distribution partner, will launch LiDCOrapid(v3) at the 39th Annual
Congress Korean Society of Critical Care Medicine which will be
held in Seoul, South Korea on the 26 April 2019.
Commenting Matt Sassone, Chief Executive Officer, said:
"This is an exciting development for our business in South East
Asia. Geographical expansion remains the biggest potential driver
of future growth for LiDCO, South Korea is a new market for LiDCO,
so we are delighted to receive approval to sell our LiDCOrapid (v3)
in a growing market that presents significant opportunities for
LiDCO."
For further information, please contact:
LiDCO Group Plc www.lidco.com
Matt Sassone (CEO) Tel: +44 (0)20 7749 1500
Tim Hall (CFO)
finnCap Tel: +44 (0)20 7600 1658
Geoff Nash / Hannah Boros (Corporate
Finance)
Andrew Burdis (ECM)
Walbrook PR Ltd Tel: 020 7933 8780 or lidco@walbrookpr.com
Paul McManus (Media Relations) Mob: 07876 741 001
Lianne Cawthorne (Media Relations) 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.
A number of clinical studies have shown 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.
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 (PPV% and SVV%).
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) and are also available in many markets as a software
for service model all of which provide a recurring 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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