DALLAS, Feb. 19, 2010 (GLOBE NEWSWIRE) -- InvestorSoup.com announces an investment report featuring CardioNet Inc. (Nasdaq:BEAT). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
The full report is available at: http://www.investorsoup.com/lp/BEAT
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CardioNet Inc. (BEAT), provides continuous, real-time ambulatory outpatient management solutions for monitoring relevant and timely clinical information regarding an individual's health. The Company has developed an integrated patient monitoring platform that incorporates a wireless data transmission network, internally developed software, the U.S. Food and Drug Administration (FDA)-cleared algorithms and medical devices, and an around-the-clock digital monitoring service center. Its initial efforts are focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders, through its core Mobile Cardiac Outpatient Telemetry (MCOT), event and Holter services.
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In the report, the analyst notes:
"Revenues for the fourth quarter of 2009 were $33.3 million compared to $34.4 million in the fourth quarter of 2008, a decrease of $1.1 million. For the fourth quarter 2009, the Company's payor mix was 34% Medicare and 66% commercial. While the increased MCOT™ patient volume drove additional revenue, it was offset by the full quarter impact of the previously announced Medicare rate reduction as well as lower commercial reimbursement. Gross profit declined to $20.3 million in the fourth quarter of 2009, or 60.9% of revenues, compared to $23.9 million in the fourth quarter of 2008, or 69.4% of revenues.
"BEAT announced in early February that the 300,000th patient has been monitored with the Company's Mobile Cardiac Outpatient Telemetry (MCOT™) service. MCOT is the first system to provide real-time wireless ECG monitoring and 24/7/365 analysis and response."
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