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Company Update |
VICTORIA, B.C., December 18, 2003 - CardioComm Solutions Inc. (TSX-V:CCG) (the "Company", "CardioComm"), is pleased to announce the following year-end update:
- CardioComm has signed several custom licensing arrangements with strategic partners reflecting revenue greater than US$1.5 million, which will be recognized over the next several quarters.
- The Company continues to focus on enhancing its GlobalCardio™ marketing initiatives as a "recognized solution" for several significant international clients.
- The Company has expanded distribution channels through the signing of additional distributors and a manufacturer's representative program. CardioComm now has Philips Medical Systems, Instromedix (a division of Card Guard), Biomedical Systems Inc., and Braemar as non-exclusive distributors, as well as international distribution from Baylis Medical Company in Canada, UK Medical in the United Kingdom and NUMED Pty. in Australia.
- The Company has expanded US regional distribution through the addition of four manufacturers representatives. The Company aims to continue to expand its distribution network by adding US regional distribution through manufacturers representatives and additional US national and international distribution agreements.
- The Company is expanding GlobalCardio capabilities including a full 12-lead ECG management system and will focus on custom solutions using web-based technologies.
- Biomedical Systems Inc., with whom CardioComm signed a large custom sale and distribution agreement, became an equity investor in the company in June 2003.
- Biomedical Systems Inc. launched GlobalCardio™ as a full web solution for its patient monitoring and TTM follow-up services in their patient monitoring division.
- CardioComm reached agreements with St. Jude Medical and Guidant Corporation to add pacemaker programmer data upload to our software line.
- CardioComm is preparing the retail launch of its highly innovative GlobalCardio™ in early 2004.
- The Company is entering pilot projects both in the US and internationally with cardiology centers doing referral services for primary care physicians.
- The Company has received a further FDA clearance for GlobalCardio™ expanding is opportunity for use in the US market.
- In January 2004, CardioComm will launch its latest version of GEMST Lite and GEMS™ Arrhythmia and TTM follow up with enhanced features and capabilities.
- The Company recently upgraded its quality system certification to ISO 13485. ISO 13485 is the latest and most extensive standard for medical software, and incorporates quality standards and metrics for customer support and service.
- The Company also announces the granting of 1,095,000 options in accordance with the Company's approves Stock Option Plan for employees and Directors of the Company.
About CardioComm Solutions Inc:
CardioComm's patented and proprietary technology is used in products for the recording, viewing, analyzing and storing of electrocardiograms (ECGs), for diagnosis and management of cardiac patients. CardioComm has achieved its technical goals of improved access and communication through the development of a real-time ECG viewer. CardioComm is the first company to provide a real-time means of viewing ECGs over a network (LAN, WAN or Internet). This tool enables ECGs to be viewed and controlled live, by physicians, over a global virtual healthcare network. This technology is marketed as Global ECG Management System (GEMS™) and GlobalCardio™. CardioComm's software products have been cleared for sale in the United States by the U.S. Food and Drug Administration. The Company has earned the latest ISO 13485 certification.
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On behalf of the Board of Directors of CardioComm Solutions Inc.:
“Stephen Martin”
Stephen R. Martin, President & CEO
For investor information, please contact:
Stephen Martin
1-877-744-1122
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