TEWKSBURY, Mass.--(BUSINESS WIRE)-- Cambridge Heart, Inc. (OTCBB: CAMH), a developer of non-invasive diagnostic tests for cardiac disease, announced today that it has reached an agreement with its OEM partner, Cardiac Science Corporation, to include the Company’s proprietary Microvolt T-Wave AlternansTM (MTWA) Module on every new Q-Stress System sale beginning July 11, 2011. The Company expects this initiative to significantly increase the placement of MTWA Modules in coming quarters, which Cambridge Heart anticipates will provide the basis for future recurring revenue.
“Cardiac Science is the established market leader in cardiac stress testing equipment, and we believe the inclusion of our MTWA Module on all new Q-Stress System sales will materially increase module placements, making our technology available to a greater number of physicians and their at-risk patients,” said Ali Haghighi-Mood, CEO, Cambridge Heart.
In order to maximize the commercial benefit of this initiative, Cambridge Heart and Cardiac Science have agreed to include the MTWA Module in all new Q-Stress Systems at no incremental cost through the end of 2011.
Sudden Cardiac Arrest (SCA) is the leading cause of death in the U.S. accounting for an estimated 300,000 deaths each year – more than lung cancer, breast cancer and HIV/AIDS combined. Out-of-hospital survival is less than 8 percent, making prediction and prevention critically important. It is estimated that there are approximately 10 to 12 million heart attack and heart failure patients in the U.S. who can benefit from annual MTWA testing. Microvolt T-Wave Alternans is a marker of SCA risk which is measured during a non-invasive treadmill test using Cambridge Heart’s proprietary technologies. The Company’s MTWA test is the only one of its kind that is reimbursed by Medicare under a National Coverage Policy.
About Cambridge Heart, Inc.
Cambridge Heart develops and commercializes non-invasive 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.
Cambridge Heart, founded in 1990, is based in Tewksbury, MA. It is traded on the Over-The-Counter Bulletin Board (OTCBB) under the symbol CAMH.OB.
About Cardiac Science Corporation
Cardiac Science, an Opto Circuits (India) Ltd. company, 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 treadmill and systems, PC-based diagnostic workstations, Holter monitoring systems, hospital defibrillators, vital signs monitors, cardiac rehabilitation telemetry systems, 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 almost 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, and YouTube at http://budurl.com/CSonYT.
Statements contained in this press release that are not purely historical are forward-looking statements. In some cases, we use words such as “believes”, “expects”, “anticipates”, “plans”, “estimates”, “could”, and similar expressions that convey uncertainty of future events or outcomes to identify these forward-looking statements. These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results may differ materially from those indicated by these forward-looking statements. Factors that may cause or contribute to such differences include material deviations from our current operating plan, lower than expected sales by Cardiac Science of its Q-Stress System, failure to obtain or maintain adequate levels of government and third-party reimbursement for use of our MTWA test, customer delays in making final buying decisions, decreased demand for our products, failure to obtain funding necessary to fund operations and to develop or enhance our technology, adverse results in future clinical studies of our technology, failure to obtain or maintain patent protection for our technology and other factors identified in our most recent Annual Report on Form 10-K under “Risk Factors”, which is on file with the SEC and available at www.sec.gov. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so except as may be legally necessary, even if our estimates should change.
At Cambridge Heart:
Vincenzo LiCausi, 978-654-7600 x 6645
Chief Financial Officer
Edna Kaplan, 781-639-1910
Wolfe Axelrod Weinberger Associates, LLC
Stephen D. Axelrod, CFA
Diana Bittner (general inquiries)
KEYWORDS: United States North America Massachusetts
INDUSTRY KEYWORDS: Technology Hardware Software Health Biotechnology Cardiology Clinical Trials Hospitals Medical Devices