CardioNet, Inc. Provides Update on Mobile Cardiovascular Telemetry Reimbursement

CardioNet, Inc. (NASDAQ:BEAT), a leading wireless medical technology company with an initial focus on the diagnosis and monitoring of cardiac arrhythmias, announced today that the Centers for Medicare and Medicaid Services (“CMS”) has not established a national pricing reimbursement rate for mobile cardiovascular telemetry (CPT Code 93229) in the Medicare final rule for the physician fee schedule for calendar year 2010. Reimbursement for mobile cardiovascular telemetry will continue to be carrier priced by Highmark Medicare Services (“HMS”).

Randy Thurman, Chairman, President and Chief Executive Officer of CardioNet, stated, “We are extremely disappointed that CMS has not established a national reimbursement rate for mobile cardiovascular telemetry and that it will continue to be regionally priced by HMS. CardioNet and other industry providers have now serviced nearly 400,000 patients nationally, of which a significant portion were Medicare patients. Since the unexpected announcement by Highmark on July 10, 2009, we provided CMS and HMS with substantial data that we believe justified a significantly higher national reimbursement rate and we will continue to work with CMS on a national price for 2011.”

CMS also updated the national technical fees for event and Holter monitoring for the calendar year 2010. Event monitoring (CPT Code 93271) and Holter monitoring (CPT Code 93226) reimbursement will be reduced approximately 7% and 16%, respectively, compared to the 2009 rates.

About CardioNet

CardioNet is the leading provider of ambulatory, continuous, real-time outpatient management solutions for monitoring relevant and timely clinical information regarding an individual's health. CardioNet's initial efforts are focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders, with a solution that it markets as Mobile Cardiac Outpatient TelemetryTM (MCOT™). More information can be found at http://www.cardionet.com.

Forward-Looking Statements

This press release includes certain forward-looking statements within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995 regarding, among other things, our growth prospects, the prospects for our products and our confidence in the Company's future. These statements may be identified by words such as "expect," "anticipate," "estimate," "intend," "plan," "believe," "promises" and other words and terms of similar meaning. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including important factors that could delay, divert, or change any of them, and could cause actual outcomes and results to differ materially from current expectations. These factors include, among other things, changes in governmental regulations and legislation, changes to reimbursement levels for our products, including the potential for re-evaluation from Highmark or CMS on reimbursement, the success of our sales and marketing initiatives, our ability to attract and retain talented executive management and sales personnel, our ability to identify acquisition candidates, acquire them on attractive terms and integrate their operations into our business, the commercialization of new products, market factors, internal research and development initiatives, partnered research and development initiatives, competitive product development, the continued consolidation of payors, acceptance of our new products and services and patent protection and litigation. For further details and a discussion of these and other risks and uncertainties, please see our public filings with the Securities and Exchange Commission, including our latest periodic reports on Form 10-K and 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

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