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Cardiac Network Inc. (CNWI) Signs Memorandum of Understanding With Pacific Innovations, LLC to Complete Development of an Exclusive Technologically Advanced Cardiac Monitoring System


2/5/2010 12:17:59 PM

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, www.cardiacnetwork.net.

Forward-Looking Statements

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.


Contact:
Cardiac Network, Inc.
Michael Swartzburg
415-362-2020
Email Contact


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