SAN DIEGO, March 22, 2002 (PRIMEZONE) -- CardioDynamics (Nasdaq:CDIC), the innovator and global leader of Impedance Cardiography (ICG) technology, today announced heightened interest in its ICG technology at the American College of Cardiology 51st Scientific Sessions held in Atlanta, March 16-19, 2002. In addition to showcasing its products and technology, the Company participated in a clinical education symposium that highlighted the significance of utilizing the BioZ in the treatment of congestive heart failure. The ICG Symposium was chaired by William T. Abraham, M.D., FACP, FACC, Chief of Cardiovascular Medicine and Co-Director of Gill Heart Institute, University of Kentucky College of Medicine and included a presentation by Clyde W. Yancy, M.D., FACC, Medical Director of Heart Failure/Heart Transplantation, at the University of Texas Southwestern Medical Center & St. Paul University Hospital, Dallas, Texas. The presentation is planned to be available on the Internet, and clinicians will be able to receive continuing medical education credits.
The Company also held several important meetings with leading cardiologists, clinical investigators, institutional investors, and various cardiovascular medical product companies. Members of the Company's Medical Advisory Board met with its executives to discuss the best means to increase ICG's market penetration, including widespread awareness and clinical application.
The Company also met with clinical investigators of its multi-center PREDICT clinical study. PREDICT is a carefully designed and controlled clinical study focused on early detection of decompensation (at risk for hospitalization or death) of congestive heart failure patients. A recent article in Clinical Cardiology reported that decompensated heart failure is a major contributor to the cost of care for heart failure patients and contributes to approximately $36 billion of the $56 billion annually spent on heart failure patient care. The PREDICT study is aimed at identifying ICG parameters which will contribute to the early detection, and hopeful intervention and prevention, of decompensation. The Company is encouraged by PREDICT's progress and is anticipating completion of study enrollment within 2002 and completion of data collection and study results in 2003.
The Company reported receipt of over 148 sales leads, which have the potential to generate approximately $5 million in revenue. These leads will be aggressively pursued by the Company's direct sales force.
Michael K. Perry, CardioDynamics' CEO, stated, "We are very pleased with the excellent response our ICG symposium received. We also witnessed significant interest from the medical community at the ACC meetings this year and are encouraged by the amount of progress with clinical studies and planned clinical publications. This conference provided the ideal venue for our Company to meet with leading cardiovascular companies, renowned cardiologists, and the institutional investment community."
About CardioDynamics:
CardioDynamics (Nasdaq:CDIC), the ICG Company, is the innovator and global leader of breakthrough medical technology called Impedance Cardiography (ICG). The Company's primary products, the BioZ(r) Systems, are being used by leading physicians around the world to help battle the number one killer of men and women -- cardiovascular disease. Partners include GE Medical Systems Information Technologies, Spacelabs Medical Systems, and Vasomedical. The worldwide market potential for BioZ products is estimated to be $5 billion and an additional $800 million in recurring annual revenue for disposables. For additional information or to request an investor package, please refer to the company's Web site at www.cdic.com.
Forward-Looking (Safe Harbor) Statement:
Note: Except for the historical and factual information contained herein, this press release contains forward-looking statements, the accuracy of which are necessarily subject to uncertainties and risks, which include sole dependence on the BioZ product line, and various uncertainties characteristic of companies just emerging from the development stage; as well as other risks detailed in the company's filings with the SEC, including its 2001 Form 10-K. The company does not undertake to update the disclosures contained in this press release.