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CardioInsight Announces Closing of $7.5 Million Equity Financing
Date:3/14/2012

CLEVELAND, March 14, 2012 /PRNewswire-USNewswire/ -- CardioInsight Technologies Inc., the leading developer of non-invasive electrocardiographic mapping technology, announced today the closing of a $7.5 million Series "C" financing.  The proceeds from the financing will help CardioInsight accelerate clinical and commercial efforts related to its ECVUEadvanced 3D cardiac mapping system. 

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CardioInsight recently announced its CE Mark certification and the successful installation of the ECVUE System at its first clinical customer sites.  In the coming months, the Company will focus on securing its FDA regulatory clearance, demonstrating the value of the ECVUE System to improve the mapping of arrhythmias in routine clinical use, and proving its value in Cardiac Resynchronization Therapy (CRT).

"Securing this additional investment provides CardioInsight the ability to accelerate its clinical development and further demonstrate the commercial value of the ECVUE System," said Steve Arless, CEO of CardioInsight.  "Over the next twelve to eighteen months, we will present a growing body of evidence demonstrating the strong clinical utility of our system; ultimately laying the foundation for commercial expansion in Europe, and commercial introduction in the U.S."

CardioInsight has successfully completed commercial installations at three leading centers in Europe, including St. Mary's Hospital in London, England, the Kerckhoff Clinic in Bad Nauheim, Germany, and the Hopital Cardiologique du Haut-Leveque in Bordeaux, France.  This increased clinical use will highlight the ECVUE System's ability to simplify cardiac mapping procedures, reduce procedure time, and expand the use of mapping to new applications, including cardiac resynchronization for heart failure.

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SOURCE CardioInsight Technologies Inc.
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