TORONTO, ONTARIO--(Marketwire - Oct. 3, 2012) - CardioComm Solutions, Inc. (TSX VENTURE:EKG) (CardioComm Solutions or the company), a global medical provider of electrocardiogram (ECG) acquisition and management software solutions, was awarded the 2012 North American Cardiac Rhythm Monitoring Enabling Technology Award by Frost & Sullivan as announced first by Frost & Sullivan in a September 25, 2012, press release.
The Frost & Sullivan Best Practices Awards identify exemplary achievements and involve an analysis on best practices that identifies companies, products, processes, and executives that have achieved world-class performances. The Enabling Technology Award is a prestigious recognition of CardioComm Solutions' accomplishments in the cardiac rhythm monitoring technology business environment. To receive an Enabling Technology Award, the following criteria were used to benchmark CardioComm Solutions' performance against key competitors: Enables Creation of New Products; Enhances Current Products; Enables New Applications; Potential for Market Acceptance; and Breadth of Access to Technology.
Frost & Sullivan employs a customized Decision Support Matrix (DSM), an analytical tool that employs a 10-point scale. The DSM compares companies' performance relative to each other with an integration of quantitative and qualitative metrics, and objectively analyzes each company's performance on criteria relative to its top competitors to assign performance ratings on that basis. The CardioComm Solutions DSM score was a 9.2.
"With the help of their solution, CardioComm Solutions has enabled consumer-quality interaction between patients and doctors. With SMART Monitoring options, ECGs can be monitored remotely by a physician, clinic, or ECG coordinating centre, and the workflow has also helped to cut the cycle time down considerably. It is because of all these criteria that CardioComm Solutions has been nominated for the 2012 Enabling Technology Award in the cardiac rhythm monitoring technology segment in the North American region," said Darshana De, Senior Research Analyst from Frost & Sullivan. Darshana further added, "the score achieved by CardioComm Solutions was unusually high and clearly shows the company is leading the industry in developing new technologies and methods for next-generation cardiac rhythm monitoring technologies."
"We congratulate CardioComm Solutions for winning Frost & Sullivan's North American Enabling Technology Award for cardiac monitoring technology. Frost & Sullivan's growth-focused research and consulting services provide C-level managers with information on which to base intelligent business decisions. CardioComm Solutions' receipt of this award as a very positive affirmation of its management team", stated Bob Caines, a Partner at Paley Dixon, Inc., the New York City-based M&A advisor and intermediary.
"CardioComm Solutions has been working through 2012 to expand its three business verticals: Software as a Service with our GlobalCardio™ 12 lead technologies, C4 and the consumer-based SMART Monitoring; Software Licensing of our GEMS™, GEMS™ Air, HL7 and AutoAttendant solutions and near-term commercial releases of GEMS™ 4.0 and GEMS™ M-Air (for mobile cardiac telemetry devices); and Hardware Sales of ELR, Holter, 12 lead and now HeartCheck™ devices," said Etienne Grima, CEO of the company. "During these past 10 months, we have secured two FDA clearances and two Health Canada approvals, and in 2013 we anticipate news on our GUAVAII FDA submission for automatic triaging of ECGs, expansion into multiple biometric monitoring and completion of the HeartCheck™ PEN launch internationally. Our 2012 path has reflected a progressive and planned course which will continue to characterize our next eighteen months of performance. The reviews from Frost & Sullivan have taken this into account, and with their conference of a Best Practices Award for cardiac rhythm monitoring enabling technology, they have signaled that we are indeed on the correct path."
About CardioComm Solutions
CardioComm Solutions' 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 is headquartered in Toronto, Canada, with offices in Victoria, British Columbia, Canada.
About Frost & Sullivan
Frost & Sullivan, founded in 1961, has more than 40 global offices with more than 1,800 industry consultants, market research analysts, technology analysts and economists. Its mission is to research and analyze new market opportunities for corporate growth. Frost & Sullivan is the world leader in growth consulting and the integrated areas of technology research, market research, economic research, corporate best practices, training, customer research, competitive intelligence, and corporate strategy.
This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of CardioComm Solutions, and certain plans and objectives of CardioComm Solutions with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
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