Cardiac Network, Inc. Signs Memorandum of Understanding With Pacific Innovations, LLC to Complete Development of an Exclusive Te
February 04 2010 - 5:59PM
Marketwired
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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