Press Release
SOURCE: CardioDynamics International Corporation; Vasomedical, Inc.
CardioDynamics and Vasomedical Announce Joint
Marketing Agreement To Strengthen Market Penetration
SAN DIEGO and WESTBURY, N.Y., April 2 /PRNewswire/ -- CardioDynamics International Corporation (Nasdaq: CDIC
- news), the innovator and market leader in Impedance Cardiography (ICG), and Vasomedical, Inc. (Nasdaq: VASO - news),
the market leader in EECP® therapy for angina, today announced an agreement to co-market their noninvasive technologies to
physicians and hospitals throughout the United States. Under the terms of the co-promotional agreement, the two companies
will jointly market CardioDynamics' BioZ.com® hemodynamic monitoring systems and Vasomedical's EECP® enhanced
external counterpulsation systems through their respective direct sales forces. The co-promotional agreement commenced
March 29, 2001.
Commenting on the agreement, Michael K. Perry, CardioDynamics' Chief Executive Officer, stated, ``We are pleased to
partner with Vasomedical and believe the co-promotional efforts of our sales teams will expand each company's market
penetration. Vasomedical has done an exemplary job of market development through clinical validation, physician education,
and patient awareness, and this agreement's intent is to capitalize on each company's leadership position. Clinicians and patients
are in need of both of our companies' noninvasive systems that assist in fighting cardiovascular disease, the number one killer of
men and women. We intend to pursue additional strategic alliances with other medical products/technology companies, and
believe these alliances will increase the availability of innovative ICG technology to the medical community.''
``CardioDynamics has a reputation for delivering high quality, noninvasive monitoring systems, and we are proud to be
associated with them,'' said D. Michael Deignan, President and CEO of Vasomedical. ``Our two companies compliment each
other and can benefit from some obvious synergies. Through this agreement, we are more than doubling the number of sales
representatives promoting EECP, and are further increasing the presence of EECP in the marketplace. This agreement also
builds on the relationship we established earlier this year with Amerinet, one of the leading Group Purchasing Organizations in
the health care industry. We look forward to working closely with CardioDynamics in the coming months to expand the reach
of our combined sales teams in an effort to satisfy the growing demand for these important noninvasive modalities.''
CardioDynamics' ICG technology noninvasively measures a patient's hemodynamics, a key patient-assessment element in the
treatment of congestive heart failure and hypertension. Nearly 5 million Americans suffer congestive heart failure. Vasomedical's
EECP® therapy is a noninvasive outpatient modality for angina and under clinical study for congestive heart failure. Angina is
caused by obstruction of the arteries that supply blood to the heart's muscle, a condition that afflicts more than 7 million people
in the United States. Both companies' technologies play an important role in the treatment of coronary artery disease.
About CardioDynamics:
CardioDynamics, with headquarters in San Diego, is a medical technology and information solutions company committed to
fundamentally changing the way hemodynamic monitoring is performed in healthcare. The Company's primary products, the
BioZ® Systems, utilize proprietary BioZ Impedance Cardiography (ICG) technology to noninvasively provide medical
professionals with hemodynamic data not previously available in the physician's office and many hospital settings. Just as
Electrocardiography (ECG) measures the heart's electrical characteristics, ICG makes it possible to noninvasively measure the
heart's mechanical (blood flow) characteristics. Physicians around the world are currently using the BioZ products, including
major medical centers such as the Mayo Clinic (Rochester), Stanford University School of Medicine, (Palo Alto), University of
California San Francisco (San Francisco), Yale New Haven Hospital (New Haven), and Baylor College of Medicine
(Houston). CardioDynamics estimates worldwide market potential for BioZ products is estimated to be $5 billion, together with
an additional $800 million in recurring annual revenue for disposables. For additional information, please refer to
CardioDynamics' Web site at www.cdic.com.
About Vasomedical:
Vasomedical, Inc. is primarily engaged in designing, manufacturing, marketing and supporting external counterpulsation systems
based on Vasomedical's proprietary technology currently indicated for use in cases of angina, cardiogenic shock and acute
myocardial infarction. EECP® is a registered trademark for Vasomedical's enhanced external counterpulsation system. This
system is now in use at major medical centers, including the Beth Israel Medical Center -- New York City, Christ Hospital and
Medical Center, the Cleveland Clinic, Texas Heart Institute, Johns Hopkins, JFK Medical Center-Atlantis, FL, University
Hospital at UMDNJ/New Jersey Medical School, the Mayo Clinic, the Miami Heart Institute and the Ochsner Foundation
Hospital, as well as medical centers affiliated with Columbia University, the University of Pittsburgh, the University of California
at San Diego, the University of California at San Francisco, University of Florida at Gainesville, State University of New York
at Stony Brook and the University of Virginia. Vasomedical provides hospitals, clinics and private practices with EECP®
equipment, treatment guidance and a staff training and maintenance program designed to provide optimal patient outcomes.
Additional information is available on Vasomedical's website at www.vasomedical.com.
Forward-Looking (Safe Harbor) Statement:
Except for historical information contained in this release, the matters discussed are forward looking statements that involve
risks and uncertainties. When used in this release, words such as ``anticipate,'' ``believe,'' ``estimate,'' ``expect'' and ``intend''
and similar expressions, as they relate to Vasomedical and CardioDynamics or their respective management, identify
forward-looking statements. Such forward-looking statements are based on the beliefs of each company's management, as well
as assumptions made by and information currently available to each company's management. Among the factors that could
cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of
competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization or
technological difficulties; the regulatory and trade environment; and the risk factors reported from time to time in Vasomedical's
and CardioDynamics' respective SEC reports. Vasomedical and CardioDynamics undertake no obligation to revise any
forward-looking statements as a result of future events or developments.
For further information please contact Bonnie Dupuis, Investor Relations, ext. 1005, bdupuis@cardiodynamics.com, or Irene
Paigah, Media Relations, ext. 1012, ipaigah@cardiodynamics.com, both of CardioDynamics International Corporation,
888-522-2342; or D. Michael Deignan, President & CEO, , ext. 155, or Douglas A. Goldman, VP of Marketing & Business
Development, ext. 163, or Investor Relations, ext. 790, Investorrelations@vasomedical.com, all of Vasomedical, Inc.,
516-997-4600. |
