Zargis Medical Corp.: Zargis Cardioscan Cleared for Sale in Canada

STAMFORD, Conn., Jan. 8 /PRNewswire/ -- Zargis Medical Corp., a majority-owned subsidiary of Speedus Corp. (Nasdaq: SPDE), today announced that Health Canada, the Canadian equivalent of the U.S. FDA, has cleared the Zargis Cardioscan™ device for sale in Canada.

The Cardioscan heart sound analysis software connects wirelessly to a Bluetooth®-enabled electronic stethoscope and is designed to help physicians analyze cardiac sounds for the identification and classification of suspected heart murmurs. As previously announced, Zargis Medical was a co-recipient of Popular Science magazine's 2009 "Innovation of the Year" award for Cardioscan.

With 62,000 physicians treating a population of nearly 34 million people, Canada represents a significant market for Zargis. Furthermore, Cardioscan's optional telemedicine capabilities are well suited for the Canadian healthcare system, which has embraced telemedicine as a core initiative. The introduction of Cardioscan into this market will provide benefits during face-to-face patient encounters and allow healthcare providers to extend the use of auscultation (listening with a stethoscope) to situations and environments where face-to-face encounters are not always feasible.

"We've been seeing increasing interest among the Canadian medical community in Cardioscan and its telemedicine functionality, which is predictable given Canada's geography and the nature of its population distribution," stated Zargis CEO John Kallassy.

This clearance allows Zargis to immediately begin marketing Cardioscan and the accompanying stethoscope in Canada. To order or inquire about distribution opportunities visit www.zargis.com.

About Zargis Medical Corp.

Zargis is a global medical device company focused on improving health outcomes and cost-effectiveness through diagnostic support software and innovation. Zargis is majority-owned by Speedus Corp. (Nasdaq: SPDE), and both 3M Company (NYSE: MMM) and Siemens Corporate Research, a division of Siemens AG (NYSE: SI), hold equity positions.

For additional information about Zargis or Speedus Corp., contact Peter Hodge at 888.773.3669 (ext. 23) or phodge@zargis.com, or visit the following Web sites: www.zargis.com and www.speedus.com.

Statements contained herein that are not historical facts, including but not limited to statements about the Company's product, corporate identity and focus, may be forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, the continuing development of the Company's sales, marketing and support efforts.