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Aspect Medical Systems Sign Exclusive US Distribution And Licensing Agreement With LiDCO Group

Aspect Medical Systems, Inc has signed an exclusive US distribution and technology licensing agreement with LiDCO Group Plc. Aspect under the terms of the agreement will have exclusive rights to sell the LiDCOrapid monitoring system in the US. The LiDCOrapid system includes a monitor and single-use disposable. The syytem is designed for use in the operating room to provide clinicians with immediate and accurate feedback on the patient's fluid and hemodynamic status. A non-exclusive distribution of the LiDCOplus system and an exclusive license to integrate LiDCO and BIS technologies into a combined product for sale in the US is also allowed in the agreement. LiDCO Group has granted Aspect warrants in an amount equal to 8% of the outstanding share count of LiDCO Group as of July 28, 2009 at a 20% premium.

“This agreement presents an exciting opportunity for Aspect to further leverage the skills and resources within our organization while providing our customers with what we believe is another high-value perioperative care product that can be used to improve patient outcomes,” said Nassib Chamoun, president and CEO of Aspect Medical Systems. “Anesthesia professionals already rely on BIS technology and vital signs to assess patient status. By adding advanced hemodynamic monitoring, anesthesia professionals gain a more complete view of the patient’s condition and their response to various interventions. Ultimately, we believe that measuring both brain and cardiovascular responses is necessary to optimize patient management and achieve the best patient outcomes.”

The hemodynamic monitors can be used for optimizing fluid management of higher-risk patients. Operative or preoperative hypovolemia should be diagnosed and treated on the basis of flow-based hemodynamic measurements, such as those provided by the LiDCO products was recommended by Recent British Consensus Guidelines on Intravenous Fluid Therapy for Adult Surgical Patients. Patients undergoing certain procedures to achieve an optimal value of stroke volume, as this may reduce complications and length of stay following surgery should have intraoperative treatment with intravenous fluid.

Commenting on the agreement, Terry O’Brien, PhD, CEO of LiDCO stated, “There is growing demand for an easy-to-use, minimally invasive hemodynamic monitoring product for use intraoperatively. Aspect is an organization with strong US distribution and clinical selling expertise, and is ideally suited to address this demand in partnership with LiDCO. We are pleased to share a common commitment to providing customers with the best possible products to help improve outcomes.”