CardioComm Solutions Inc. Announces Development Agreement with MD Primer Inc.

 

VICTORIA, B.C., November 21, 2006 – CardioComm Solutions Inc. (TSX-V:CCG) ("CardioComm", the “Company”), has been retained by MD Primer Inc, (“MD Primer”) an Ontario Corporation, to develop a 12 lead MDP GlobalCardio™ software program.

 

Specifically, CardioComm has been working with MD Primer to develop a 12 lead web based software system. This Agreement represents the second phase of development which will include detailed medications and billing modules. MD Primer and CardioComm will be launching the system early in 2007 subject to medical device regulatory filings.

 

In consideration for the development of the software, MD Primer shall pay CardioComm a fee of $300,000. MD Primer will own the software but grants CardioComm the non-exclusive license to use the software in the development and furtherance of its business ventures, including the right to sub-license the software to end-users and service providers. CardioComm shall pay a royalty to MD Primer while under licence. Subject to regulatory approval, the software may be purchased by CardioComm in exchange for the issuance to MD Primer of 5,000,000 units (each a “Unit” and collectively, the “Units”) of CardioComm. Each Unit shall consist of one fully paid and non-assessable common share (each a “Share” and collectively the “Shares”) of CardioComm and 5,000,000 warrants to purchase Shares. Each warrant shall entitle the holder to purchase one additional Share for $0.10 until November 15 , 2007 and $0.13 until November 15 , 2008 .

 

The shares underlying the Units to be issued to MDP under this Agreement are subject to Voluntary Pooling over a 12 month period reflecting certain milestones met.

 

About MD Primer Inc.

MD Primer Inc. is a research and evidence based company with a corporate mission to promote research and guidelines based management of patients. MD Primer has been created for physicians in order to improve their access to information related to optimal care of their patients. Working in the field of cardiovascular disease treatment and risk prevention, MD Primer Inc. has developed into a national leader in the provision of operational, financial and data management services and consultation. MD Primer's core activities have focused on the support and coordination of clinical research and educational programs as well as real world registries in acute coronary syndromes, diabetes, hypertension, hypercholesterolemia, and pulmonary arterial hypertension.

 

MD Primer has developed proprietary systems to support clinical Protocol and case report form development, regulatory submissions, site start up, data coordination, ECG/Holter interpretation, clinical research agreements and service contract development/negotiation, grant administration, statistical analysis and report./manuscript preparation.

 

 

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. The Company's products are sold worldwide through a combination of its external distribution network and its North American based sales team. 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.

 

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

Copyright © 2006 CardioComm Solutions Inc. All rights reserved