CardioNet, Inc. and MedApps, Inc. Partner to Expand Wireless Medicine
November 09 2010 - 8:00AM
Business Wire
CardioNet, Inc. (NASDAQ:BEAT) and MedApps, Inc. announced today
that they formed a strategic alliance to advance their positions in
the mobile wireless medical market, through the Companies’
respective wireless patient monitoring technologies. The terms of
the agreement are not being disclosed at this time. The Companies
expect to leverage their respective strengths to deploy new and
innovative wireless monitoring solutions that benefit patients in a
cost-effective, meaningful manner.
“CardioNet is the industry leader in the diagnosis and
management of cardiac arrhythmias with Mobile Cardiac Outpatient
Telemetry™ and we are now seeking to expand our service offerings,”
said Joseph H. Capper, CardioNet’s President and CEO. “When
CardioNet’s MCOT™ is prescribed, physicians, patients and payors
recognize the quality and reliability of our service. We are
looking to MedApps to help accelerate our entry into additional
areas of monitoring, and to extend our platform utilizing MedApps’
CloudCare™ technology.”
MedApps’ CEO Kent Dicks said, “This is an opportunity to forge
an exciting collaboration between our two companies and take
wireless healthcare to the next level. Both of our companies are
considered innovators and leaders in bringing wireless technology
to patient monitoring, and our philosophies for improving the
delivery of healthcare are a perfect fit.”
MedApps’ CloudCare™ technology platform will bring ease and
simplicity to CardioNet’s business model. By fully utilizing an
intelligent cloud-based environment, MedApps distinguishes itself
from its hardware-based competitors by improving all aspects of the
process that affect both the enterprise and end-user, from
simplifying the placing and processing of orders, to remotely
updating and servicing equipment in the field.
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 Telemetry™
(MCOT™). More information can be found at
http://www.cardionet.com.
CardioNet’s Forward-Looking Statements
This document 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, our ability to complete the acquisition of Biotel and
integrate its operations into our business, the effect of the
acquisition on our business operations and financial results, the
effect of the implementation of CMS’ national price in 2011,
effectiveness of our efforts to address operational initiatives,
including cost savings initiatives that affect our business,
changes to insurance coverage and 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.
About MedApps
MedApps provides innovative eCare solutions for the collection,
transmission and remote management of patient health data. MedApps
utilizes wireless and m2m technologies, hardware, software, and
cloud computing to efficiently connect patients with their care
providers and electronic health records. The FDA-cleared MedApps
System is producing notable results and demonstrating a strong ROI
at leading healthcare facilities across the nation, including
Cleveland Clinic, Meridian Health and Baptist Health. MedApps is a
recognized telehealth innovator and member of Continua, an industry
consortium setting Medical Device Interoperability Standards
worldwide. MedApps is an ISO 13485, ISO 9001 and UL Certified
Company with CE Mark and Health Canada license. Additional
information about MedApps’ products and services is available at
http://www.medapps.com.
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