Appointment of new Group Non Executive Director
14-10-2005
LiDCO Group plc, (AIM: LID) the UK-based cardiovascular monitoring company, is pleased to announce the appointment of Ian Brown as Non Executive Director of the Group with effect from 12th October 2005.
For the past 25 years, Mr Brown, aged 49, has worked exclusively in the medical devices industry and has extensive experience of developing and introducing new medical devices to the market in the UK and overseas. Between 1986 and 2003, he was involved as an Executive Director and shareholder in a medical device start up company (Novamedix Ltd), initially as Sales and Marketing Director and later as Managing Director. In his early career Mr Brown worked in a number of UK and international sales and marketing positions for Johnson & Johnson, Smiths Industries and Pharmacia.
Mr Brown is also a shareholder and Director of Medical Now Limited, a company that offers cancer screening services. No other details are required to be disclosed under paragraph (g) schedule 2 of the AIM Rules with respect to Mr Brown.
Commenting on today's announcement, Dr Terry O’Brien, Chief Executive of LiDCO said: “I am delighted to welcome Ian to the Board of LiDCO. Ian has worked in the medical device industry for 25 years and has a broad experience of operational, strategic and corporate finance matters. This combination of experiences coupled to his knowledge of the healthcare markets around the world, will be particularly valuable as LiDCO moves into the next stage of its growth and commercial development.”
Ian Brown said: “I am joining LiDCO at an exciting time for the Company and I am impressed by the clinical strength of LiDCO's product, and by the company's growing international distribution network and registration portfolio."
| For further information please contact: |
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| LiDCO Group Plc |
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| Terry O'Brien – Chief Executive |
Tel: +44 (0)20 7749 1500 |
Buchanan Communications |
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| Tim Anderson, Mary-Jane Johnson, James Strong |
Tel: +44 (0)20 7466 5000 |
Panmure Gordon |
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| Grant Harrison, Aubrey Powell |
Tel: +44 (0)20 7459 3600 |
Notes to Editors
About LiDCO 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 where the Company maintains a research base.
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;
- LiDCO disposables: accurately determine cardiac output in a minimally invasive manner.
Distribution Network:
The Company has achieved registration of its products in 13 markets in Europe, the USA and Japan. It sells direct to the NHS in the UK, and through a worldwide network of specialty critical care distributors.
Background to the recently published clinical trial: Better than standard care - (EGDT) improves outcome in high risk surgery patients:
The results of a major trial at St George’s Hospital, London using LiDCO’s minimally invasive monitoring technology were presented during the 25th International Symposium on Intensive Care and Emergency Medicine in Brussels (21st to 25th March). The results have revealed the following:
- Savings in the cost of treating patients amounting to an average of £4,000 per patient. Extrapolated nationally, this would equate to a saving of £500 million per annum for the NHS
- The monetary saving (£248,000) - resulted from 640 hospital days saved for 62 patients, an average of more than 10 bed days per patient
- The savings in cost and time were associated with a significant reduction in medical complications (particularly infections – which were halved) through the use of LiDCO’s minimally invasive technology to improve tissue oxygen levels following surgery.
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