LiDCO, a King’s College London spin-out focusing on cardiovascular monitoring, has signed an exclusive distribution agreement for its LiDCOrapid Monitor with Aspect Medical Systems.
The agreement will cover the whole of the US and fits with LiDCO’s strategy of increasing sales by predominantly using a distribution route to market.
The agreement will give LiDCO access to the US anaesthesia and surgery markets in which Aspect is already well established.
As part of the agreement, Aspect will take on a number of LiDCO’s US-based sales team, saving the company approximately $0.85m (£0.5m) per year. In addition, Aspect will pay an upfront licence fee of $1.15m.
The LiDCOrapid system is designed for use in the operating room to provide clinicians with feedback on a patient’s fluid and haemodynamic status.
The new agreement between the two companies will also allow Aspect to develop a new combined monitoring product for sale in the US that will integrate LiDCO and Aspect’s monitoring and signal processing technologies.
Aspect will also have the non-exclusive right to distribute LiDCO’s intensive-care product, the LiDCOplus in the US.