News blog
LiDCO Group
- BY: Andrew Hore |
- POSTED: 16/04/2009 |
LiDCO has extended its marketing agreement with Becton Dickinson to territories outside of the UK.
LiDCO develops and manufactures minimally invasive monitoring technology, which monitors the amount of blood flowing round the body. BD’s critical care subsidiary has annual sales of $2bn.
BD will market LiDCO’s monitor with its own pressure transducers that interface with the monitor.
BD has also agreed to assume the costs of gaining regulatory approval for LiDCOrapid in Japan. LiDCOrapid monitors are aimed at the heart and moderate to high risk surgery markets. FinnCap believes that a licence fee of $700,000 will be payable to LiDCO, with $350,000 payable upfront and the rest when regulatory and other approvals are achieved.
LiDCO has recently signed distribution agreements in Germany, Australia and New Zealand for LiDCOrapid monitors.
At 7.5p a share, LiDCO is valued at £10.7m. At the end of July 2008, LiDCO had cash of £975,000 and was using £556,000 of its £1.25m of invoice discounting and overdraft facilities.
FinnCap was recently appointed nominated adviser and broker to LiDCO.
LiDCO will announce its results for the year to January 2009 on 21 April 2009.
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