Argon Medical designs, manufactures and sells single-use specialty medical device disposables and in September 2010 acquired the critical care business of Becton, Dickinson (“BD”).
Dr Terry O’Brien,CEOof LiDCO, commented: “We are delighted to sign this agreement with Argon Medical and commence the regulatory approval process for the Japanese market. Minimally invasive hemodynamic monitoring is becoming well established in Japan and the Board believes that the Japanese hemodynamic monitoring high risk surgery market has a potential market value of US$285 million per annum, with reimbursement available. Through our partnership with Argon Medical Devices Japan, LiDCO will be well positioned to capitalize on this.”
George Leondis, President of Argon Medical Devices, Inc added: “We are very pleased to again collaborate with LiDCO. Our partnership on this groundbreaking technology is a significant step forward in the growth of Argon’s Critical Care business in Japan.”
About LiDCO Group Plc
LiDCO is a supplier of minimally invasive hemodynamic equipment to hospitals, 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 optimization protocols for high risk patients in both critical care units and in the operating theatre.
Increasingly clinical studies are showing that the optimization 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.