SOURCE: Event Cardio Group Inc.

Event Cardio Group Inc.

September 02, 2015 14:19 ET

Event Cardio Group Crosses Major Hurdle

NEW YORK, NY--(Marketwired - Sep 2, 2015) -  Event Cardio Group, Inc. (OTCQB: ECGI), a medical device company, is pleased to announce that its Ambulatory Arrhythmia Monitoring System, NowCardio™, has successfully completed the first audit of compliance to Canadian Medical Devices Conformity Assessment System (CMDCAS) and ISO 13485:2003. The audit was conducted by a recognized registrar, BSI Group, and is a significant milestone towards both Health Canada and FDA certification. NowCardio™ is on track to receive regulatory certification and approvals in Q4 of 2015.

NowCardio™ is an advanced Ambulatory Arrhythmia Monitoring System that will be used to monitor, analyze, record, and transmit a patient's heart physiological data in real-time. NowCardio™ will be a world first where a cardiac monitoring system can offer dual-functionality of both Cardiac Holter Monitoring and Cardiac Loop Event Recording.

John Bentivoglio, Chief Executive Officer and President of Event Cardio Group, stated, "The audit was outside verification that the NowCardio™ certification is advancing as planned, and we anticipate releasing this innovative product to the market in late 2015."

CARDIAC MONITORING MARKET: The combined U.S. cardiac equipment and services market in 2012 was estimated at $3.86 billion and is expected to grow to $4.19 billion in 2016. Globally, the cardiac monitoring market is anticipated at three to five times the US market. We believe that the market for ambulatory cardiac holter monitoring and event recording services will grow over the foreseeable future as a result of an aging and growing population, the increase in a prevalence of health conditions such as obesity that increase the likelihood of heart related diseases and the increasing awareness of cardiac diseases.

BREAST CANCER DETECTION MARKET: The global Point of Care market in 2011 was approximately $18.7 billion, up from $10.3 billion in 2005. In the U.S. alone, the combined breast cancer detection/diagnostic market was valued at more than $2.2 billion in 2008, and is expected to continue in a stable growth pattern over the next several years. Analysts have suggested a conservative growth rate of approximately 5.4% per year.

About Event Cardio Group, Inc.

Event Cardio Group, Inc. is a developer of medical diagnostic detection equipment focused on the detection, and preventive treatment, of high-risk diseases. The Company's core products are its NowCardio™, an advanced cardiac monitor which offers dual-functionality including both holter monitoring and event recording simultaneously, and FDA approved BreastCare DTS™ breast cancer detection device. For more information on the company please visit www.eventcardiogroup.com.

Statements in this release may be regarded, in certain instances, as "forward-looking statements" pursuant to certain sections of the Securities Act 1933 and the Securities Exchange Act 1934, respectively. "Forward-looking statements" are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties, which could cause actual results or events to differ materially from those currently anticipated, including, but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting Event Cardio Group, Inc. and its business. There can be no assurance that such forward-looking statements will ever prove to be accurate and readers should not place undue reliance on any such forward-looking statements contained herein. Event Cardio Group, Inc. will not republish revised forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

Contact Information

  • Contact:
    John Bentivoglio
    President & CEO
    212-321-0091
    Email Contact