CardioComm Solutions, Inc.

CardioComm Solutions, Inc.

February 25, 2009 16:53 ET

CardioComm Solutions, Inc. Announces Execution of Distribution Agreement

VICTORIA, BRITISH COLUMBIA--(Marketwire - Feb. 25, 2009) - CardioComm Solutions, Inc. (TSX VENTURE:EKG) ("CardioComm" or the "Company") today announced that Strategic Healthcare Sales and Marketing Development LLC ("SHSMD") has provided the Company a full and final release from its legal claim against the Company commenced September 16, 2008 in exchange for a $32,500 settlement payment, representing $25,000 for SHSMD's last month of service and $7,500 in fees.

The Company also announced that it has signed a Distribution Agreement, renewable for three years, with Instromedixs, a CardGuard Company, for the distribution of LifeWatch Technologies Corp.'s King of Hearts Atrial Fibrillation loop event recorders ("KOH"), a standard in arrhythmia monitoring. The Distribution Agreement permits the Company to be the exclusive distributor of the KOH in Canada. Additionally, the Company may sell the KOH outside of the Canadian market when sold with the Company's Global EKG Management System (GEMS™).

The execution of the Distribution Agreement is an indication of the Company's continued growth as a preferred provider of cardiology based solutions to the North American market. Etienne Grima, Chief Financial Officer for the Company, said "the ability to marry the sales of the clinically preferred GEMS™ software and KOH hardware will promote CardioComm's expansion in the existing clinical service market for arrhythmia monitoring." Dr. Anatoly Langer, interim Chief Executive Officer and Chairman of the Board for the Company, further stated that "this is the first of several measures CardioComm intends to take in 2009 to expand its clinical solutions to meet the current and unmet needs of physicians in managing patients with cardiac disease."

In addition, the Company announced that it would not be pursuing its proposed warrant re-pricing, previously announced on December 12, 2008, at the current time.

About CardioComm Solutions, Inc.

CardioComm's patented and proprietary technology is used in products for the recording, viewing, analyzing and storing of electrocardiograms (EKGs), 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 EKG viewer. CardioComm is the first company to provide a real-time means of viewing EKGs over a network (LAN, WAN or Internet). This tool enables EKGs to be viewed and controlled live, by physicians, over a global virtual healthcare network. This technology is marketed as Global EKG 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.

Dr. Anatoly Langer, Chairman

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • CardioComm Solutions, Inc.
    Dr. Anatoly Langer
    Investor Information
    1-800-725-6585, ext. 264