Navigation Links
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 healthcare system. The rebuilding of India's healthcare infrastructure, combined with the emergence of medical tourism and telemedicine, will drive strong demand for medical equipment. Additionally, the government is encouraging growth of the medical equipment market through policies such as a reduction in import duties on medical equipment, higher depreciation for life-saving medical equipment, and a number of other tax incentives."

India presently has one-fifth of the world average number of hospital beds per million population and an estimated 450,000 additional beds will be required by 2010 -- an investment estimated at over $25 billion.

Perry added, "We view this strategic alliance with RMS as beneficial on two major fronts. First, RMS has an extensive presence in the developing, healthcare market in India, which will be instrumental in helping to drive continued market adoption of our proprietary BioZ(R) ICG technology. Secondly, we believe RMS will be an excellent technology partner to utilize for low cost development and manufacturing in the years ahead."

About CardioDynamics:

CardioDynamics (Nasdaq: CDIC), the ICG Company, is the innovator and leader of breakthrough medical technology called Impedance Cardiography (ICG). The Company develops, manufactures and markets noninvasive diagnostic and monitoring technologies and electrodes. The Company's ICG Systems are being used by physicians around the world to help battle the number one killer of men and women -- cardiovascular disease. Partners include GE Healthcare and Philips Medical Systems. For additional information, please refer to the company's Web site at http://www.cdic.com.

About Recorders and Medicare Systems:

Recorders and Medicare Systems, Ltd., located in Chandigarh, India was founded in 1979 and is engaged in the development, manufacturing, marketing and selling of electro-medical equipment to the Indian healthcare marketplace. The company has installed its products in nearly every major medical institution in India and has over 200 sales and service personnel based in 53 branch offices throughout the country. Additional information can be found on the company's website at http://www.rmsindia.com.

Forward-Looking (Safe Harbor) Statement:

Except for the historical and factual information contained herein, this press release contains forward-looking statements, such as potential growth rates, success of strategic partner relationships including potential increased market penetration and increasing global access to our BioZ(R) ICG technology, the accuracy of which is necessarily subject to uncertainties and risks including the Company's primary dependence on the BioZ product line, and various uncertainties characteristic of early growth companies, as well as other risks detailed in the Company's filings with the SEC, including its 2006 Form 10-K. The Company does not undertake to update the disclosures contained in this press release.


'/>"/>
SOURCE CardioDynamics
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. CardioDynamics Announces Third Quarter 2007 Conference Call and Webcast
2. Kiadis Pharma Announces Successful Completion of Rhitol(TM) Phase II Clinical Study
3. P&G Reports $0.98 EPS, Up 17%, on 9% Sales Growth; Announces Plan to Create Stand-Alone Coffee Company
4. Skinvisible Announces Licensing Agreement for Adapalene
5. Aflac Incorporated Announces Fourth Quarter Results
6. Hologic Announces Two-For-One Stock Split
7. Hutchinson Center Announces First Unclimbed Mountain to be Tackled by Big Expedition for Cancer Research
8. Healthcare Businesswomens Association Announces 2008 Board of Directors
9. Perdue AgriBusiness Announces Low Linolenic Soybean Contracting Opportunities with DuPont Business Pioneer Hi-Bred
10. Radius Announces Launch of RAD1901 Clinical Program for the Treatment of Hot Flashes
11. Samarion(SM) Announces Formation of Outcome Based Study Team for Industrys Only Enterprise Quality Improvement System
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/30/2016)... ... April 30, 2016 , ... Orlando-based Maximized Living has ... go for gold in Rio. Under the care of Maximized Living doctors at ... In an unprecedented showing, Maximized Living is sending the largest contingent of elite chiropractors ...
(Date:4/29/2016)... ... April 29, 2016 , ... Memorial ... for Graduate Medical Education (ACGME) that it has received accreditation for its residency ... of three residency programs that Memorial is currently pursuing, including Pediatrics and Internal ...
(Date:4/29/2016)... ... April 29, 2016 , ... Dr. Bernie Siegel, ... "LOVE, MEDICINE and MIRACLES") addresses touchy topics related to Death live on ... Dr. Bernie Siegel, author of a plethora of essential books-to-read for physicians ...
(Date:4/29/2016)... ... ... Spine Team Texas, a comprehensive spine physician group specializing in the treatment of ... invited to be a featured speaker at the Texas Society of the American College ... , Dr. R. Scott McPherson, a physical medicine and rehabilitation specialist, will speak ...
(Date:4/29/2016)... ... ... the deadliest type of skin cancer. Although only about 1 percent of skin cancer cases ... 10,000 people are expected to die of melanoma this year. The risk increases with age, ... most commonly diagnosed cancers in young women. A recent breakthrough in genetic studies may give ...
Breaking Medicine News(10 mins):
(Date:4/29/2016)... April 29, 2016 Glycotope GmbH, ... today announces the appointment of Dr. Alfredo Zurlo ... is an oncologist with many years clinical experience and ... industries. His last role was at Mologen AG where ... Executive Board. Previously Dr. Zurlo held various positions at ...
(Date:4/28/2016)...  While Abbott,s announced purchase of St. Jude ... and stent business, healthcare research firm Kalorama Information ... into patient monitoring.  Kalorama said that patient monitoring ... with double-digit growth expected the next 5 years, ... Patient Monitoring . Abbott Laboratories agreed to ...
(Date:4/28/2016)... 2016 Dr. ... und Stephen Schmidt werden ... ArisGlobal®, ein führender Anbieter cloudbasierter Softwarelösungen für ... dass neue Führungskräfte zum Team Sicherheit und ... vielfältige Erfahrungen mitbringen.  Dies wird die Geschäftseinheit ...
Breaking Medicine Technology: