Bioheart, Inc., Announces Letter of Intent to Acquire MEDICALGORITH...( Deal Includes POCKETECG Wireless...)

Deal Includes POCKETECG Wireless Beat-To-Beat Heart Monitoring and

Diagnostic System

SUNRISE, Fla., Aug. 1 /PRNewswire-FirstCall/ -- Bioheart, Inc., (Nasdaq: BHRT), announced it has entered into a non-binding letter of intent to acquire MEDICALGORITHMICS, Ltd. and the worldwide rights to the POCKETECG, a real-time wireless beat-to-beat, intelligent heart monitor and diagnostic system, designed for long-term, fully-automated electrocardiogram (ECG) arrhythmia analysis. The device, manufactured by MEDICALGORITHMICS, Ltd., Poland, recently received CE mark approval for marketing throughout Europe.

Under the terms of the non-binding 'letter of intent', both companies are expected to conduct their due diligence review within the next 60-90 days. The terms of the agreement were not disclosed.

"Similar in size to an MP3 player, patients find the POCKETECG easy to use 24-hours-per-day in the comfort of their homes and when going about their normal activities," said Dr. Marek Dziubinski, co-founder and Chief Technology Officer, MEDICALGORITHMICS.

POCKETECG connects to the patient via two or three electrodes and wirelessly transmits real time data 24-hours-per-day directly to the physician or a monitoring center so that long-term outpatient monitoring can be conducted over days or weeks. This constant monitoring outside of a hospital environment provides peace of mind for both physicians and patients that the patient can be reliably cared for outside of the hospital environment. Additionally, use of this monitoring device for at-home disease management may positively impact health care costs by minimizing emergency hospital stays.

"We expect major growth in the outpatient cardiac mo
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