Cardiac Science and GE Healthcare Expand Distribution Agreement to Include Sale of Powerheart(R) AEDs to Hospitals in North Amer
November 10 2004 - 1:30AM
PR Newswire (US)
Cardiac Science and GE Healthcare Expand Distribution Agreement to
Include Sale of Powerheart(R) AEDs to Hospitals in North America GE
to Market Powerheart AED G3 PRO Designed for Medical Professionals
IRVINE, Calif., Nov. 10 /PRNewswire-FirstCall/ -- Cardiac Science
Inc. (NASDAQ:DFIB) announced today that it has expanded its
multi-year strategic distribution agreement with GE Healthcare, a
division of General Electric Company (NYSE:GE), under which GE will
begin marketing Cardiac Science's line of Powerheart(R)-branded
automated external defibrillators (AEDs) and fully-automatic
in-hospital defibrillator-monitors (CRMs) to hospitals in the
United States and Canada. GE's hospital sales force will begin
marketing Cardiac Science's recently FDA-cleared Powerheart AED G3
PRO, the Powerheart AED G3 and Powerheart CRM(TM) in the first
quarter of 2005. Cardiac Science will support the GE sales effort
via a group of sales specialists located in strategic North
American locations. In October, Cardiac Science made its first OEM
shipments to GE of its new G3 PRO model. GE is marketing the
private-labeled device under the GE-brand name Responder(R) AED PRO
in Europe, Asia, the Middle East and other international markets.
Cardiac Science's Chairman and CEO Raymond W. Cohen said, "To date,
we have had little, if any, distribution capability in the U.S and
Canadian hospital markets. With GE as our distribution partner, we
not only open up a new important market but are also provided with
immediate credibility and access. Over the past year or so,
significant demand has developed for AEDs within hospitals. AEDs
are being used to treat patients in the non-acute sections of the
hospital and are also being deployed to protect visitors and
hospital employees. "Prospects for sales of the new G3 PRO in this
market are excellent. Medical professionals that have seen the G3
PRO simply love it," said Cohen. "They tell us it is the perfect
AED for use by physicians and nurses because it can be easily used
by either highly or minimally trained personnel given the device's
intuitive voice prompts, high resolution ECG display and capability
to deliver defibrillation shocks either semi-automatically or
manually. We believe the combination of this great new product and
a powerful distribution partner will enhance the near-term
potential of the CRM and allow us to reap the benefit of the
investment we made to develop the G3 PRO." About the Powerheart(R)
AED G3 PRO The G3 PRO is a technologically advanced AED designed
for use by sophisticated users of lifesaving equipment such as
hospital personnel, medical professionals and emergency medical
technicians. The G3 PRO is unique in that it displays the victim's
heart rhythm on a built-in high resolution color electrocardiogram
(ECG) display and gives professional users the option of delivering
defibrillation shocks either semi-automatically or manually during
the emergency treatment of victims of sudden cardiac arrest. Other
advanced features include continuous cardiac monitoring capability
via an ECG patient cable, multiple rescue data storage, clear and
comprehensive AED and CPR voice prompts, infrared data transfer and
optional rechargeable battery. About the Powerheart(R) Cardiac
Rhythm Module (CRM) The CRM is a lightweight fully-featured
external defibrillator that offers a complete therapeutic
monitoring package in a single device -- continuous cardiac
monitoring, synchronized cardioversion, non-invasive pacing as well
as manual, semi-automatic or fully-automatic defibrillation.
Designed for use in hospitals, the CRM can be used to monitor
patients during transport, as an emergency defibrillator or be
prophylactically attached to an at-risk cardiac patient. Once
attached to the patient via its disposable electrode pads and
programmed, the CRM can operate without the need for human
intervention. It continuously monitors a patient's heart, detects
the onset of life-threatening arrhythmias and can automatically
deliver defibrillation therapy to patients suffering from Sudden
Cardiac Arrest. About Cardiac Science Cardiac Science develops,
manufactures and markets a complete line of Powerheart(R) brand,
automated public access defibrillators (AEDs), and offers
comprehensive AED/CPR training and AED program management services
that facilitate successful deployments. The company makes the
Powerheart(R) CRM(TM), the only FDA-cleared therapeutic patient
monitor that instantly and automatically treats hospitalized
cardiac patients who suffer life-threatening heart rhythms. Cardiac
Science also manufactures its AED products on a private label basis
for other leading medical companies such as Nihon Kohden (Japan),
Quinton Cardiology Systems and GE Healthcare. For more information
please visit http://www.cardiacscience.com/ or call 1.949.797.3800.
This news release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. In
addition, from time to time the company, or its representatives,
have made or may make forward looking statements orally or in
writing. The words "estimate," "potential," "intended," "expect,"
"anticipate," "believe," and similar expressions or words are
intended to identify forward looking statements. Such
forward-looking statements include, but are not limited to the
achievement of future revenue growth based on the expanded
agreement with GE. Cardiac Science cautions that these statements
are subject to substantial risks and uncertainties and are
qualified by important factors that could cause actual results to
differ materially from those reflected by the forward-looking
statements and should not be relied upon by investors when making
an investment decision. Information on these and other factors is
detailed in the Company's Form 10-K for the year ending December
31, 2003, subsequent quarterly filings, and other documents filed
by the Company with the Securities and Exchange Commission.
Contact: Matt Clawson (Investors), or Raymond W. Cohen Len Hall
(Media) Chief Executive Officer Allen & Caron Inc Cardiac
Science, Inc. 949-474-4300 949-797-3800 DATASOURCE: Cardiac Science
Inc. CONTACT: Investors, Matt Clawson, , or Media, Len Hall, , both
of Allen & Caron Inc, +1-949-474-4300, for Cardiac Science
Inc.; or Raymond W. Cohen, Chief Executive Officer of Cardiac
Science, Inc., +1-949-797-3800, Web site:
http://www.cardiacscience.com/
Copyright
Cardiac Science (NASDAQ:DFIB)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cardiac Science (NASDAQ:DFIB)
Historical Stock Chart
From Jul 2023 to Jul 2024