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CardioDynamics Announces Strategic Alliance With Leading Medical Equipment Manufacturer in India
Date:1/31/2008

Company Targets India Due to Significant Increases in Healthcare Expenditures Coupled with Government Policies Encouraging Medical Equipment

Market Growth

SAN DIEGO, Jan. 31 /PRNewswire-FirstCall/ -- CardioDynamics (Nasdaq: CDIC), the innovator and leader of Impedance Cardiography (ICG) technology, today announced a Strategic Alliance with Recorders and Medicare Systems, Ltd. (RMS), one of the largest manufacturers of medical equipment in India. Under the terms of the Distribution and Technology License Agreements, RMS will have rights to sell CardioDynamics manufactured BioZ(R) ICG products in India and also will integrate BioZ(R) ICG technology into RMS' patient monitoring products. CardioDynamics will receive product revenue for each ICG monitor and a licensing fee for each BioZ(R) ICG kit purchased by RMS.

Michael K. Perry, Chief Executive Officer of CardioDynamics, stated, "We have made a concerted effort to diversify our business beyond the U.S. physician office market which is heavily dependent upon Medicare and private insurance reimbursement. These agreements with RMS are another step in driving our international growth initiatives and will build upon the recently announced record 50% year-over-year quarterly growth in our International business. Through our technology licensing strategies, we are increasing global access to our BioZ(R) ICG technology and increasing the recurring revenue content of our business."

India, whose population exceeds one billion people, has significantly increased its healthcare expenditures over the past decade to more than $34 billion or roughly 6% of GDP. The population of individuals at least 60 years of age is projected to triple over the next 20 years to an estimated 190 million people.

Suman Jolly, Managing Director of RMS, stated, "We are proud to partner with the world's premier ICG monitoring company and to bring innovative medical technology to our h
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SOURCE CardioDynamics
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