Lidco inks US distribution deal with ICU Medical

LiDCO has inked a distribution agreement with partner ICU Medical to sell the LiDCO IM non-invasive hemodynamic monitoring system in the US.

LiDCO IM is a specially configured hemodynamic monitor produced exclusively for ICU Medical. It works solely in conjunction with LiDCO's non-invasive module.

The companies have an existing royalty agreement allowing ICU Medical to incorporate LiDCO's technology into its FDA 510(k)-cleared CogentTM 2-in-1 hemodynamic system, which combines both invasive and minimally invasive hemodynamic monitoring capability on a single platform.

FinnCap analyst Mark Brewer, who has a 14p target price on the stock, said LiDCO’s outlook for FY 2017 and FY 2018 was expected to be one of growth, executing on the strategies put in place to exploit the roughly $2bn hemodynamic monitoring opportunity, particularly in the US, China and Japan.

He said confirmation ICU Medical had received its 510(k) approval together with today's announcement were two key steps towards LiDCO achieving this.