SAN FRANCISCO, CA--(Marketwire - February 04, 2010) -
Cardiac Network, Inc. (PINKSHEETS: CNWI
announced today that it has signed a Memorandum of Understanding, or MOU,
with Pacific Innovations, LLC, a private technology development company, to
complete the development of a new technologically advanced cardiac
monitoring system exclusively for Cardiac Network.
The new cardiac monitoring device prototype is expected to be demonstrated
during the second quarter of 2010. This technology will utilize a
combination of advanced technologies not seen in the market today.
The system will also include a user-friendly patient online interface to
allow access through wireless and WiFi networks to a secure central
monitoring database for purposes of uploading and storing
electrocardiogram, or ECG, data measuring electrical activity of the heart.
Under the Licensing Letter of Intent and MOU, the devices will be
proprietary, patented by Pacific Innovations, and available to Cardiac
Network exclusively. This technology would be made available under
healthcare plans and marketed through retail direct-to-consumer channels.
Under an existing joint venture agreement with Med Mobile announced in June
2009, and devices available with its overseas manufacturer, Cardiac Network
has the ability to offer with its cardiac devices Personal Emergency
Response Systems (PERS) to its patients. PERS devices contain an integrated
active GPS system that can activate "panic" alerts to Cardiac Network's
24/7 monitoring station, provide accurate location tracking and get
immediate live assistance when and where it is needed. Patients can talk
directly 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 anticipates announcing further details of the manufacturing
and future sales of its new products and services by the end of the first
quarter of 2010.
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 current service uses unique transtelephonic (by
telephone) cardiac recorders that monitor and provide diagnostic
information to physicians and their patients. Cardiac Network also offers
its services to individuals which help them quickly determine if they are
having potential cardiac problem so they can obtain immediately needed
medical treatment. Learn more about Cardiac Network Inc. by visiting,
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.