Strong Shareholder Support for Vermed Sale
SAN DIEGO, Aug. 16 /PRNewswire-FirstCall/ -- CardioDynamics International Corporation (Nasdaq: CDIC), the innovator and leader of impedance cardiography (ICG) technology, today announced that the shareholder vote for the sale of Vermed is progressing well with over 50% of the necessary shareholder votes (approximately 27% of outstanding shares) already cast in favor of the Vermed sale. The ratio of votes received is running in excess of 90% for, and less than 10% against, the sale of Vermed. The annual shareholder meeting is scheduled for August 28, 2007, at 9:00 am, P.T., at the Company's headquarters. If a shareholder has not received their proxy materials or needs a replacement, they can contact Advantage Proxy toll free at (800) 238-3410, extension 34.
Michael K. Perry, CardioDynamics' Chief Executive Officer, stated, "In addition to the votes already received, I have spoken with a number of large shareholders who have indicated a yes vote, including Dr. Herbert Wertheim, who owns approximately 9% of the company's outstanding shares. I am confident we will get the required votes, but additional shareholder support is still needed."
Dr. Herbert Wertheim, CardioDynamics' largest individual shareholder,
added, "After review of the proxy, further research and discussions with
management, I support the sale of Vermed, which will allow focus and
important investment into CardioDynamics core technology. ICG is a
cost-effective, revolutionary technology that assists in predicting future
heart failure events and is invaluable in the treatment of cardiovascular
disease, from which one out of every two Americans will eventually die.
|SOURCE CardioDynamics International Corporation|
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