GREENVILLE, S.C., July 12 /PRNewswire-FirstCall/ -- Signalife, Inc. ("Company"), announced earlier today that it and its founding inventor - the prominent Dr. Budimir Drakulic - have extended their contractual commitments for an additional ten year term. The existing contracts between the parties, which are exclusive and contain covenants not to compete and proprietary protective provisions - will now expire approximately 2022.
Terms of the arrangement were not disclosed, except that the consideration will basically be the same as it has been under the original contract.
Dr. Drakulic surprised us all - including the United States Air Force - when he developed the technology that was used by the Air Force in what the Air Force called, in writing, "the most sophisticated neuro-physio field trial ever." It was the patented amplifier used by the Air Force pilots, and certain other proprietary information possessed by the Company, that ultimately led to the unique cardiovascular devices currently under development and distribution by the Company.
Dr. Drakulic has an impressive career in micro-electronics. He won the prestigious Crump Award on multiple occasions, is a prolific author who has been quoted by Fortune 100 companies in their patent applications, and was the Director, Microelectronics Lab, Crump Institute of Medical Engineering, University of California at Los Angeles - along with other positions at UCLA of a similar nature - for many years. Amplifiers developed by him are used by public and private agencies worldwide including e. g. The National Institute of Health.
A renowned micro-electronics expert, Dr. Drakulic has achieved technological advancements unrivalled by any corporation or individual - this led to the receipt of the 2006 Frost & Sullivan Award for Technological Innovation for Signalife. Past award winners are Fortune 500 companies including IBM, Kodac Medical, GE Medical, and Siemens Medical..
The Company's CEO, Ms. Pamela Bunes, commented on the development: "On behalf of the organization, we are delighted to have the extraordinary intellectual and expert resources of Dr. Drakulic for an additional 10 years. His achievements inside Signalife are astounding and are being recognized by industry giants. I am honored to work with him.
Dr. Drakulic resides in Los Angeles and is the Chief Technology Officer for Signalife in its development of multiple products - including the Fidelity 100 which is now in the market and being used by physicians.
About Signalife, Inc.
Signalife, Inc. engages in the research, development, and marketing of signal-monitoring devices for detecting diseases. It primarily offers patient modules that are used as part of a heart monitor system to acquire, amplify, and process physiological signals associated with a patient's cardiovascular system. Signalife is based in Greenville, South Carolina. For more information visit http://www.signalife.com.
Caution Regarding Forward-Looking Statements
Statements in this release that are not strictly historical are "forward- looking" statements. Forward-looking statements involve known and unknown risks, which may cause Signalife's actual results in the future to differ materially from expected results. Factors which could cause or contribute to such differences include, but are not limited to, failure to complete the development and introduction of heart monitoring and other biomedical devices incorporating Signalife's technology, failure to obtain federal or state regulatory approvals governing heart monitoring and other biomedical devices incorporating Signalife's technology, inability to obtain physician, patient or insurance acceptance of for heart monitoring and other biomedical incorporating Signalife's technology, and the unavailability of financing to complete management's plans and objectives, including the development of heart monitoring and other biomedical incorporating Signalife's technology. These risks are qualified in their entirety by cautionary language and risk factors set forth and to be further described in Signalife's filings with the Securities and Exchange Commission.
Signalife, Inc.CONTACT: Claire Mouton LaFrance of Signalife, Inc., +1-864-233-2300
Web site: http://www.signalife.com/
