Aspect Medical Systems, Inc. and LiDCO Sign Exclusive U.S. Distribution and Licensing Agreement
Published: Jul 29, 2009
NORWOOD, Mass.--(BUSINESS WIRE)--Aspect Medical Systems, Inc. (NASDAQ: ASPM) today announced that it has signed an exclusive U.S. distribution and technology licensing agreement with LiDCO Group Plc (AIM: LID). Under the terms of the agreement, Aspect will have exclusive rights to sell the LiDCOrapid monitoring system in the U.S. The LiDCOrapid system, comprised of a monitor and single-use disposable, is designed for use in the operating room to provide clinicians with accurate and immediate feedback on the patient's fluid and hemodynamic status. The agreement also allows for 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 U.S. In addition, 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.