CardioNet, Inc. Announces National Reimbursement Rate for Mobile Cardiovascular Telemetry

CardioNet, Inc. (NASDAQ:BEAT), a leading wireless medical technology company with a current focus on the diagnosis and monitoring of cardiac arrhythmias, announced that the Centers for Medicare and Medicaid Services (“CMS”) has established a national rate in The Medicare Program Final Rule for the technical component of mobile cardiovascular telemetry (CPT Code 93229). Based on the information currently available, we expect a price of approximately $800 for our geographical area to become effective on January 1, 2011, which will replace the carrier price of $754 previously implemented by Highmark Medicare Services.

Joseph Capper, President and Chief Executive Officer of CardioNet, commented: “We are pleased that our ongoing dialogue with CMS over the last two years culminated in a national price. We believe that this sends a clear message that MCOTTM is an established, accepted technology that is critical to providing better patient care to Medicare beneficiaries nationwide.”

The Company will comment further on CMS’ decision to establish a national rate on its investor conference call to discuss the Company’s operating results for the third quarter of 2010, which is scheduled for November 8, 2010 at 5:00 PM Eastern Time.

About CardioNet

CardioNet is a 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 effect of the implementation of CMS’ national price in 2011, the success of our efforts to address the operational issues, including cost savings initiatives, changes to reimbursement levels for our products, 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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