SAN FRANCISCO, CA--(Marketwire - September 10, 2009) -
Cardiac Network, Inc. (PINKSHEETS: CNWI
reported today that it is continuing the expansion of its technology
development initiatives for its products and services in anticipation of
servicing its agreement with American Wholesale Health, or AWH, that was
announced on June 22, 2009. The expanded platform will allow AWH to market
Cardiac Network's monitoring services to its members nationwide under its
umbrella of medical services. AWH members will be given the opportunity to
receive Cardiac Network's monitoring program, that gives members their own
compact ECG monitor and access to 24/7 cardiac monitoring services.
Under the terms of the agreement, AWH will bundle Cardiac Network's heart
monitoring services with other services offered as part of AWH memberships.
The monitoring program will generate revenues through product sales and
monthly billings to subscribers for its various monitoring services.
The expanded technology platform will simplify the management of customer
accounts. System upgrades will ensure that patients experiencing cardiac
episodes will be able to communicate directly and effectively with the
Cardiac Network monitoring station. In turn, Cardiac Network's medical
technicians can communicate directly with a patient's doctor or emergency
response team. Cardiac Network will continue to announce updates to its
development programs and new products and services through out the
remainder of fiscal 2009, or as new material definitive agreements are
About Cardiac Network, Inc.
Cardiac Network, Inc. is a medical technology company providing cardiac
monitoring and diagnostic services to general practitioners and specialist
physicians, for the investigation of patients with abnormal cardiac rhythm
and function. The service uses a variety of monitors, including unique
transtelephonic (by telephone) cardiac recorders that monitor and provide
diagnostic information to physicians and their patients.
Except for historical information contained herein, the statements in this
release are forward-looking and made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are inherently unreliable and actual results may differ
materially. Examples of forward-looking statements in this news release
include statements regarding Cardiac Network's anticipated economically
competitive products and services. Factors which could cause actual results
to differ materially from these forward-looking statements include such
factors as fluctuations in demand for Cardiac Network's products, Cardiac
Network's ability to maintain strategic business relationships, the impact
of competitive products and pricing, growth in targeted markets and the
adequacy of Cardiac Network's liquidity and financial strength to support
its growth. Cardiac Network undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.