("LiDCO" or the "Company" or the "Group")
Appointment of Non-Executive Director
LiDCO (AIM: LID), the hemodynamic monitoring company, announces the appointment of Phil Cooper to the Board, as a Non-Executive Director, with immediate effect.
Phil brings with him 30 years of experience in the healthcare sector. This includes 27 years with Mölnlycke Health Care, one of the world's leading providers of single-use surgical and wound care products and services, where Phil held a number of positions in an executive capacity including, from 2007 to 2014 as president and executive board member of the wound care division. During this seven year period Mölnlycke wound care sales doubled and the business transformed from one that was European focused to a business where approximately 40% of sales were from Asia & the Americas. Importantly for LiDCO, Phil was involved with Mölnlycke's rapid growth in the US, from a historically small player to a market leading position.
Phil is a non-executive director of Alesi Surgical Limited, a company that commercialises inventions arising from the Welsh Institute for Minimal Access Therapy (majority owned by IP Group plc) and is an advisor to the board of Purple Surgical Holdings Limited, a manufacturer of single use surgical instruments.
Commenting on the appointment, Matt Sassone, Chief Executive Officer of LiDCO, said: "We welcome Phil to the Board of LiDCO and we look forward to benefiting from his breadth of industry knowledge and experience spanning territories around the world, along with his expertise in strategy development. LiDCO is entering a new phase of commercialisation and Phil brings to the Board the necessary skills to aid us in this journey."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
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LiDCO Group Plc |
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Matt Sassone (CEO) |
Tel: +44 (0)20 7749 1500 |
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Paul Clifford (Finance Director) |
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finnCap Ltd |
Tel: +44 (0)20 7600 1658 |
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Geoff Nash / Emily Watts (Corporate Finance) |
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Stephen Norcross (Corporate Broking) |
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Walbrook PR Ltd |
Tel: 020 7933 8780 or lidco@walbrookpr.com |
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Anna Dunphy |
Mob: 07876 741 001 |
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Lianne Cawthorne |
Mob: 07584 391 303 |
The following information is disclosed pursuant to Rule 17 and Schedule Two Paragraph (g) of the AIM Rules for Companies:
Philip Michael Cooper, age 52, holds or has held the following directorships or partnerships in the past five years:
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Previous Directorships or Partnerships |
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Alesi Surgical Limited |
Crawford Healthcare Holdings Plc |
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PSMC Consultancy Limited |
MHC Scotland Limited |
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Taunton School Educational Charity |
Molnlycke Health Care Limited |
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Regent Medical Americas Holdings Limited |
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Regent Medical Limited |
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Regent Medical Overseas Limited |
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Regent Moon Limited |
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Medlock Medical Limited |
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MHC UK Limited |
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Medlock Moon Limited |
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MHC Finland MHC Italy |
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MHC South Korea |
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MHC Spain |
Phil currently holds no interest in the ordinary share capital, or other securities, of LiDCO.
Save as disclosed above there are no additional disclosures to be made in accordance with Rule 17 or Schedule Two paragraph (g) of the AIM rules regarding Phil Cooper.
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.
Increasingly clinical studies are showing that the optimisation of patients' hemodynamic status in high risk patients produces better outcomes and reduced hospital stay. LiDCO's computer-based technology, 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 ('BISTM')* 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.
*BISTM and Bispectral Index are trademarks of Medtronic registered in the US and foreign countries.
**CNAPTM is a trademark of CNSystems Medizintechnik AG.
LiDCO monitors use single-patient disposables (sensors or smartcards) which provide an ongoing 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.