SOURCE: Event Cardio Group

Event Cardio Group

July 06, 2016 08:00 ET

Event Cardio Group's NowCardio Heart Monitor System Cleared for Sale in Canada

Company Plans to Launch Leadless and Wireless Heart Monitoring Device This Month

NEW YORK, NY--(Marketwired - July 06, 2016) - The NowCardio™ heart monitoring system, Event Cardio Group, Inc.'s (OTCQB: ECGI) core product, has been cleared for sale by Health Canada as a Class 2 Medical Device License and distribution will commence this month.

NowCardio is a noninvasive continuous heart monitoring device that is both leadless and wireless, offering the functionality of Holter monitoring, event monitoring, mobile cardiac telemetry and real-time streaming of all ECG data within a single device. The patient-friendly NowCardio heart monitor involves a single-lead ECG patch that allows patients to be remotely monitored for extended periods of time to obtain important data which is continuously transferred to a data center for immediate analysis.

NowCardio incorporates several features designed to improve patient adherence, including: no wired leads; wireless transmitter; automatic arrhythmia detection; patient-triggered alarm; small footprint and 24/7 patient support. It also incorporates several features designed to enhance diagnostic yield, including: advanced automated ECG analysis software; superior noise reduction; extended monitoring up to 32 days; real-time streaming of all ECG data; mobile device support; and custom electrodes without skin prep.

Vincenzo Basile M.D., B.Ed, CSCN, FRCPC, a neurologist and medical director of hospital stroke programs, said, "The NowCardio device is a lightweight, comfortable and waterproof solution to real-time, beat-to-beat cardiac monitoring and undoubtedly will offer several advantages over the current standards. The real-time streaming of beat-to-beat data offers more rapid detection of paroxysmal atrial fibrillation and early identification is vital to stroke prevention. Its small size and leadless design allows patients to be monitored without others noticing they have it on and its waterproof design allows patients to be monitored without interfering with showering or swimming. Overall it is one of the best designs I have seen from a cardiac monitor perspective."

John Bentivoglio, CEO of Event Cardio Group, said, "After nearly five years of hard work and dedication, we have achieved a key milestone in our commercialization strategy for NowCardio with the issuance of this Health Canada medical device license. This approval enables us to provide clinicians and other customers in Canada with a unique tool that can provide comprehensive and reliable data about patients' heart health. All of the members of our development team are to be commended for their efforts. We believe that commercialization of NowCardio will allow us to become a key player in the rapidly growing heart monitoring sector and that we are well-positioned to capitalize on this opportunity. We look forward to meeting with potential customers in Canada and applying for regulatory clearances in other countries."

Antonio Rocca, M.D., Ph.D., FRCPC, a cardiologist and researcher at the University of Toronto and member of Event Cardio Group's Advisory Board, said, "NowCardio offers heart patients and their caregivers a novel and comprehensive paradigm for cardiac event monitoring. The leadless design will increase patient comfort and compliance while providing healthcare providers with expanded data for the detection of arrhythmia. We are confident that this device will prove to be invaluable in several clinical settings and will quickly win favor from clients as they learn about the unique advantages it offers compared to the existing standard of care in the cardiac monitoring space."

The Medical Device license was issued to Contex International Technologies (Canada) Inc., the engineering arm of Event Cardio Group. Richard Smith, CTO of ECGI and Contex, stated, "The Health Canada Medical Device License covers four components of the NowCardio system: the NowCardio Sensor, NowCardio Electrode, NowCardio Smart Device and NowCardio Charger."

About Event Cardio Group, Inc.

Event Cardio Group, Inc. is a developer of medical diagnostic equipment that focuses on the detection, and preventive treatment, of high-risk diseases. The Company's core product is NowCardio™, an advanced Advanced Ambulatory Arrhythmia Monitoring System monitor which offers the combined functionality of holter monitoring, event recording, and mobile cardiac telemetry simultaneously within in a single 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 USA
    416-571-6264 Canada
    johnb@eventcardiogroup.com

    Media Relations:
    Dian Griesel Int'l.
    Laura Radocaj or Susan Forman
    212-825-3210