BOTHELL, Wash. & TEWKSBURY, Mass.--(BUSINESS WIRE)--Cardiac Science Corporation [NASDAQ: CSCX], a global leader in automated external defibrillator (AED) and diagnostic cardiac monitoring devices, and Cambridge Heart, Inc., [OTCBB-CAMH], a developer of noninvasive diagnostic tests for cardiac disease, with a focus on identifying those at risk for sudden cardiac arrest, today announced a partnership pursuant to a Development, Supply and Distribution Agreement Cambridge Heart previously announced on June 23, 2009. Under the Agreement, the Companies are collaborating to develop a Microvolt T-Wave Alternans (MTWA) module, which will be integrated with Cardiac Science’s cardiac stress test systems.
“We’re continually looking for ways to extend our leadership of the stress market. The development of MTWA as an add-on module for our stress systems allows us to bring new technology to our customers without asking them for a large capital outlay,” said Dave Marver, Cardiac Science president and chief executive officer. “This is consistent with our strategy to help our physician customers by offering simple, cost-effective, and efficient devices.”
“Our partnership with Cardiac Science allows us to have our MTWA technology distributed to cardiologists and primary care physicians through a large, world-class and well-established distribution organization,” said Ali Haghighi-Mood, president and chief executive officer of Cambridge Heart. “Our module strategy is intended to make our MTWA technology more accessible to the physicians who treat the 10- to 12-million higher-risk cardiac patients we believe can benefit from an annual MTWA test. Reaching even a modest percentage of those patients will create a great deal of value for Cambridge Heart, Cardiac Science and their physician customers and, ultimately, for their patients.”
Cambridge Heart has completed the prototype development of the module, which is now subject to industry standard validation and verification processes, and regulatory approval.
About Cardiac Science:
Cardiac Science develops, manufactures, and markets a family of advanced diagnostic and therapeutic cardiology devices and systems, including automated external defibrillators (AED), electrocardiograph devices (ECG/EKG), cardiac stress test treadmills and systems, Holter monitoring systems, hospital defibrillators, cardiac rehabilitation telemetry systems, vital signs monitors, and cardiology data management systems (informatics) that connect with hospital information (HIS), electronic medical record (EMR), and other information systems. The company sells a variety of related products and consumables and provides a portfolio of training, maintenance, and support services. Cardiac Science, the successor to the cardiac businesses that established the trusted Burdick®, HeartCentrix®, Powerheart®, and Quinton® brands, is headquartered in Bothell, Washington. With customers in more than 100 countries worldwide, the company has operations in North America, Europe, and Asia. For information, call 425.402.2000 or visit http://www.cardiacscience.com.
For updates and information on worldwide defibrillation and cardiac monitoring, find us on the Cardiac Science blog at http://www.cardiacscience.com/blog, Twitter at http://twitter.com/cardiacscience, Facebook at http://budurl.com/CSonFB, YouTube at http://www.youtube.com/user/CardiacScience.
About Cambridge Heart, Inc.
Cambridge Heart develops and commercializes noninvasive diagnostic tests for cardiac disease, with a focus on identifying those at risk for sudden cardiac arrest (SCA). The Company’s products incorporate proprietary Microvolt T-Wave Alternans™ measurement technologies, including the patented Analytic Spectral Method® and ultrasensitive disposable electrode sensors. The Company’s MTWA test, originally based on research conducted at the Massachusetts Institute of Technology, is reimbursed by Medicare under its National Coverage Policy.
Forward-Looking Statements
This press release contains forward-looking statements. The words “believe,” “expect,” “intend,” “anticipate,” variations of such words, and similar expressions identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, those relating to the plans of Cardiac Science and Cambridge Heart to offer a MTWA module as an upgrade to the existing installed base of Q-Stress system customers and as an option on new Q-Stress systems. These are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause or contribute to such varying results include the failure to achieve broad market acceptance of MTWA technology, failure to achieve regulatory approval for any new MTWA module configuration, Cambridge Heart’s failure to raise new capital resources necessary to support its operations and to develop or enhance technology, failure to obtain or maintain adequate levels of first-party reimbursement for use of the MTWA test, adverse results in future clinical studies of MTWA technology, and delays in getting the new module configuration to market and other risks that are more fully described in Cambridge Heart’s and Cardiac Science Corporation’s Annual Reports on Form 10-K for the year ended December 31, 2008, as updated by subsequent quarterly reports on Form 10-Q. Neither company undertakes the duty or obligation to update the information provided herein.
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Contact:
Company Contacts: Cambridge Heart Vincenzo LiCausi, 978-654-7600 x 6645 Chief Financial Officer or Cardiac Science Corporation Mike Matysik, 425-402-2009 Senior Vice President and CFO or Investor Contact: Allen & Caron Matt Clawson, 949-474-4300 matt@allencaron.com or Media Contacts: KOGS Communications Edna Kaplan, 781-639-1910 kaplan@kogspr.com or EVC Group Inc. Christopher Gale, 646-201-5431 cgale@evcgroup.com
