TORONTO, ONTARIO--(Marketwire - Feb. 1, 2012) - CardioComm Solutions, Inc. (CardioComm Solutions) (TSX VENTURE:EKG) and TZ Medical, Inc. (TZM, Oregon) entered into a device integration and distribution agreement for the Mobile Cardiac Telemetry (MCT) electrocardiographic (ECG) and arrhythmia management market. Under this agreement, CardioComm Solutions will integrate TZM's new Aera CT™ MCT monitor into their proprietary GEMS™ software. The GEMS™ MCT offering will be called GEMS Aera CT and it will be an extension of CardioComm Solution's popular GEMS™ Air (Global ECG Management System) solution.
"GEMS Aera CT will provide an efficient and cost-effective alternative for real-time, continuously-attended ambulatory cardiac monitoring for cardiac patients by combining the internet, the Aera CT's wireless (cellular) communication, leading-edge heart monitoring technology and CardioComm Solution's GEMS™ based software. In doing so, it will provide constant detection, recording, transmission and analysis of cardiac rhythm dysfunctions while the patient is fully mobile," states John Lubisich, TZM President.
Etienne Grima, CEO of CardioComm Solutions, stated "Few companies have been able to address the need for a more beneficial mobile arrhythmia monitoring tool. The majority are large IDTFs that produce their own proprietary MCT device which was restricted for use within their own customer base. TZM has engineered the first FDA cleared OEM MCT device which, with our GEMS software, will enable small and large IDTF and medical call centers to now enter the MCT market, a market which represents a significant revenue generating opportunity. The MCT market is USA specific where CMS approved reimbursement for this diagnostic test is particularly favorable at $754."
Bob Doerr, project manager for TZM added, "There are more than 4 million people in the U.S. alone receiving care for recurring arrhythmias. Between 2000 and 2030, the number of people over the age of 65 will double, meaning there will be a sharp rise in the need for remediation of cardiovascular disease and associated heart ailments. The need for MCT monitoring will increase substantially, and we feel TZM is positioned well to contribute to meeting those demands. Furthermore, together with the HeartCheck™ devices, this development extends our prescription line of products and will add to our credibility in both disease management and consumer markets."
"Outside the USA, especially in Europe and Big Emerging Markets (BEM), the wireless non-MCT configuration option of the Aera CT™ is gaining a lot of interest. Anticipated demand for the wireless MCT and non-MCT solution is great, and with the anticipation of a Windows 7 and forward compatible GEMS™ 4.0 release in 2012, this will provide for easier expansion into the ECG monitoring services market globally. Furthermore, together with the HeartCheck™ devices, this development extends our prescription line of products and will add to our credibility in both disease management and consumer markets." Grima continued.
The deal involves CardioComm Solutions becoming a global distributor of the Aera CT™ device with exclusivity in Canada. TZM will be able to sell the GEMS Area CT software when bundled with sales of their Aera CT™ device. The first release of GEMS Aera CT will be targeting IDTF and health care facilities such as hospitals and medical clinics that already use CardioComm Solution's GEMS™ software. The second target will be those facilities that cannot perform MCT services currently due to the lack of a commercially available MCT solution with a well developed software back end as well as the overseas ECG services markets.
CardioComm Solutions also announced today Wade Barnes has been named as the company's Chief Technology Officer. "This will be an exciting and eventful year and I look forward to the opportunity to guide the development of our innovative lines of products and services including the HeartCheck™ ECG Monitor and the GEMS Aera CT, both of which were first unveiled last year at Medica and our recent OTC cleared HeartCheck™ PEN. These products promise to bring patients and physicians closer together by enabling near real time, longer term, cardiac monitoring, and by placing the care provider in more direct contact with the patient."
About CardioComm Solutions, Inc.
CardioComm's patented and proprietary technology is used in products for recording, viewing, analyzing and storing electrocardiograms (ECGs) for diagnosis and management of cardiac patients. Products are sold worldwide through a combination of an external distribution network and a North American-based sales team. The company has earned the ISO 13485 certification, is HPB approved, HIPAA compliant, and has received FDA market clearance for its software devices. CardioComm Solutions, Inc. is headquartered in Toronto, Canada, with offices in Victoria, B.C.
About TZ Medical
TZ Medical's corporate headquarters are located in Portland, Oregon, with sales and support functions spread out across the USA. TZ Medical also part of Premier Inc., a hospital performance improvement alliance with over 1,700 participating not-for-profit hospitals and health systems serving communities nationwide. Their products and solutions can be found in hospitals, critical-care clinics and medical offices around the world.
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