Capital Markets Day 16 th May 2018
Welcome Matt Sassone Chief Executive Officer
Programme Short presentations • Dr Max Jonas (Consultant Intensivist, Senior Lecturer and Tutor in critical care working at Southampton University and Hospitals) • Eric Mills (Head of Product Development) • Melissa Copeland (Head of UK Sales) • Shane Doorish (Head of North America) General Q&A session Site Tour & opportunity to question presenters on 1:1 basis 3
LiDCO today BUILDING ON A STRONG FOUNDATION Proven technology (over 200 clinical studies) Attractive high gross margin business model Over 50% market share in home market INVESTING FOR FUTURE GROWTH £3m (gross) fund raise December 2016 FY17-18 invested £1.6m in sales & marketing July 2017 launched new monitor July 2017 launched highly differentiated HUP 4
Expansion plan – 1 st year Expand • US sales expanded from 5 FTEs to 11 FTEs Commercial • UK sales team now 12 FTEs Presence • Additional heads into Europe & Middle East Launch New • New Monitor launched July 2017 Monitor • 230 units shipped to customers since launch Platform • Excellent customer feedback High Usage • 96 monitors across USA & Europe since launch July 2017 Programme • Annualised value of business £0.73m Differentiator • Largest users in UK & USA signed multi-year contracts Relaunch • £0.5m additional spend on re-launch LiDCO brand • 28 exhibitions attended, 68,000 promotional e-mails sent outside UK • Two new websites developed and launched A YEAR OF INVESTMENT TO DRIVE GREATER GROWTH 5
Hemodynamic Monitoring in use Dr Max Jonas Consultant Intensivist
LiDCO Product Development Eric Mills Head of Product Development
LiDCO’s Product Development Market starts to Monitors become Adop<on of Space around Non-Invasive shi0 to key tool for technology ‘head of bed’ technology uncalibrated managing restricted by high becoming more emerges technologies pa<ent’s fluids per pa<ent costs premium LiDCO responds by LiDCO launches LiDCO incorporates LiDCO launches LiDCO launches launching LiDCO key clinical Medtronic’s BIS unlimited HUP CNAP Rapid parameter SVV into monitor offering 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 LiDCO Plus LiDCO Rapid LiDCO Rapid LiDCO Unity High Usage Calibrated Minimally Invasive With Non-Invasive All technologies on Programme technology trending technology and one monitor Rethinking the technology depth of pla<orm market anaesthesia 8
LiDCO’s Roadmap Today Tomorrow Future Investment Horizon 1 Horizon 2 Horizon 3 Horizons Improvements New product plaLorms Breakthrough innova<on Developments that Extends our current Evaluation of portfolio of improve our current competencies into embryonic innovations product offering new, related markets and initiatives Consolida<on of monitors Remote monitoring Trends in market Ultrasound Ward based monitoring Predic<ve algorithms Closed loop medicine 9
Development Competency NEW MONITOR Developed in 16 months Total cost of project circa. £0.3m New hardware, new operating system & GUI improvements TEAM Agile & Multi-skilled Supported by clinical advisory group Outsource tasks to increase speed Close 10
Home Market Melissa Copeland Head of UK sales
UK Market 2017/18 Performance Market Share ü Market Leader LiDCO UK sales ü Outperforming á 9% to £4.1m competitors ü Growth in theatres and ITU MARKET LEADER FOR HAEMODYNAMIC MONITORING § Product superiority § Market expansion § Greatest flexibility through HUP LiDCO § Support and Educa<on § Engagement with policy makers § Increasing distribu<on offering Based on internal es@mates 12
LiDCO Offering Product Offering Infrastructure investment UK Sales Manager Sales people Clinical Specialists + § Largest sales and clinical support § Flexible purchasing op<ons team vs compe<tors § Growth in capital sales § Expansion to support future UK growth and product expansion § Extensive educa<on offering 13
Summary § LiDCO is market leader in the UK with an excellent product offering § Sales team has a national reach with excellent relationships in anaesthetics and critical care § Looking for new product distribution to complement existing product range 14
US Expansion Shane Doorish Head of North America
USA Market FY17/18 Performance Market Share § Small share of large growing á 15% to £1.4m market § Dominated by one large player § Hypotension management emerging hot topic Infrastructure investment § US sales expanded from 5 FTEs to 11 FTEs § Strengthened clinical presence & expertise § Aligned marketing activities with sales ambition § New monitor and HUP launched July 2017 § 4 major exhibitions attended with very positive feedback § New website & content launched Largest market and greatest opportunity for LiDCO 16
Building market share Gaining share 4 significant HUP customers won: 1. Largest user of hemodynamic monitoring in USA 2. Major University of California healthcare centre 3. Level1 trauma centre in New York 4. 1000+ bed hospital Exciting pipeline Excellent customer/user feedback § No. of accounts by buying stage Major hemodynamic monitoring accounts § across USA engaged 10+ centres in Purchasing process stage § today Competitor reaction bundling, price § Stage 1 Stage 2 Stage 3 Stage 4 increases, research grants, and leveraging relationships 17
Summary § Growth from Year 1 expansion investment evident § HUP is disruptive & highly appealing § Significant HUP pipeline but lengthy purchasing process § Major hemodynamic monitoring accounts across USA engaged YTD RECURRING REVENUE SALES UP 95%* vs PY (*local currency) 18
Wrap up Matt Sassone Chief Executive
Summary § Growth from Year 1 expansion investment evident § HUP is a Unique Value Proposition § HUP is market disruptive & highly appealing for customers § Significant HUP pipeline - lengthy purchasing process to be noted § Major hemodynamic monitoring accounts across USA engaged 20
Q&A
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