CardioNet, Inc. Provides Update on Reimbursement for Mobile Cardiovascular Telemetry

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 proposed that the technical component of mobile cardiovascular telemetry (CPT Code 93229) remains carrier-priced for calendar year 2011. This proposal was included in The Medicare Physician Fee Schedule Proposed Rule released on Friday, June 25, 2010. The Proposed Rule release is followed by a public comments period which will culminate in CMS’ Final Rule expected by November 1, 2010 for implementation on January 1, 2011.

Joe Capper, CardioNet’s President and Chief Executive Officer, commented, “Given our efforts to obtain a national reimbursement rate for CardioNet’s MCOTTM technology, we are disappointed in CMS’ Proposed Rule. We will work diligently during the public comments period to request that CMS change its recommendation to one that is more beneficial to Medicare recipients who depend on MCOTTM.”

CardioNet will further address CMS’ proposal in conjunction with communications related to its second quarter 2010 financial results, which the Company expects to release in late July.

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,” ”potential,” “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, the potential for CMS’ re-evaluation of its proposal for carrier pricing of mobile cardiovascular telemetry during the public comments period prior to CMS’ final ruling, which will be published in The Medicare Program Final Rule expected in late 2010, the success of our efforts to address the operational issues, including cost savings initiatives, changes to reimbursement levels for our products and the success of our efforts to work with CMS to achieve an appropriate national rate for mobile cardiovascular telemetry, 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, changes in governmental regulations and legislation, 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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