LiDCO climbs after winning Latin American distribution deal

LiDCO's shares climbed on Tuesday after the company signed a master distribution agreement for LiDCO products with Brazil-based Elysian Fields Medical covering a number of territories across Latin America.

The hemodynamic monitoring company said the agreement initially lasts for two years and covers "all the major countries in Latin America", including Brazil, Mexico, Argentina, Chile, Uruguay, Peru, Columbia and Paraguay.

Elysian Fields, whose management team has extensive experience with hemodynamic monitoring in the region, will actively promote the LiDCO product range and take responsibility for distributor management in those countries, as well as undertake the co-ordination of regulatory and registration requirements needed in each territory.

LiDCO's estimated that the region represents up to 10% of current global demand for hemodynamic montitoring and said it intends to register its latest monitor in Brazil and Colombia during 2019, while working with Elysian Fields to achieve other market registrations.

Matt Sassone, chief executive of LiDCO, said: "Driving geographical expansion from our core UK home market is a key driver of future growth for LiDCO and accordingly we continue to expand our distribution network globally. To date LiDCO hasn't historically focused on Latin America, hence we are delighted to be partnering with Elysian Fields, given their expert knowledge of the hemodynamic monitoring market in this region."

LiDCO's shares were up 8.06% at 3.89p at 1033 GMT.