HeartBeam Announces Acquisition of LIVMOR Assets
March 14 2023 - 8:31AM
Business Wire
Extends HeartBeam’s Reach with FDA-cleared
Halo+™ Atrial Fibrillation Detection System and
Physician-prescribed Integrated Patient Care Platform
HeartBeam, Inc. (NASDAQ: BEAT), a cardiac technology
company that has developed the first and only 3D-vector
electrocardiogram (VECG) platform for heart attack detection
anytime, anywhere, today announced the strategic acquisition of
substantially all assets from LIVMOR, a digital health solutions
company providing a patient-engaging remote monitoring system of
critical physiological biomarkers. The acquisition extends
HeartBeam’s reach in remote monitoring and detection with full
ownership of an existing cutting-edge FDA-cleared product.
Founded in 2016, LIVMOR developed the Halo+™ Atrial Fibrillation
(AF) Detection System, the world’s first FDA-cleared prescription
wearable for continuous cardiac rhythm monitoring. The Halo system
provides continuous monitoring of pulse rhythms for the detection
of AF on-demand during the day and automatically overnight.
LIVMOR’s technology was commercially deployed within the VA
Healthcare System in Dallas, Texas.
In February 2022, HeartBeam partnered with LIVMOR to build a
HeartBeam-branded version of LIVMOR’s FDA-cleared Halo cloud-based
software platform to connect physicians and patients. Utilizing the
Halo cloud-based platform allowed HeartBeam to meet its schedule
for FDA submission of the HeartBeam AIMI™ software for acute care
settings that provides a 3D vector electrogram (VECG) comparison of
baseline and symptomatic 12-lead ECG to more accurately identify a
heart attack.
Under the terms of the acquisition agreement, HeartBeam
purchased LIVMOR’s intellectual property for an undisclosed amount,
including 3 issued United States patents, LIVMOR technology,
including the Halo AF Detection System, LIVMORs business contracts
and relationships as well as all Samsung watch and tablet
inventory. Additionally, HeartBeam hired LIVMOR’s key technical
employees.
“We’re very pleased to complete this acquisition as it is a
natural fit and extension of our successful partnership with LIVMOR
and our complementary goals to dramatically improve patient
outcomes and to significantly reduce healthcare system costs,” said
Branislav Vajdic, Ph.D., HeartBeam CEO and Founder. “The fact that
these intellectual property and product assets were developed by
the technical team that is now part of HeartBeam means that we will
be able to integrate the Halo cloud-based software platform with
our AIMGO solution in an efficient and cost-effective manner,”
concluded Vajdic.
About LIVMOR
Founded in 2016, LIVMOR is a digital health solutions company
whose mission is to assist physicians and medical professionals in
addressing the global chronic disease epidemic by providing a
patient-engaging remote monitoring system of critical physiological
biomarkers. LIVMOR’s goals are to dramatically improve patient
outcomes and to significantly reduce healthcare system costs with
better quality data for diagnosis and treatment of chronic
diseases. For more information, visit www.livmor.com.
About HeartBeam, Inc.
HeartBeam, Inc. (NASDAQ: BEAT) is a cardiac technology company
that has developed the first and only 3D-vector ECG platform for
heart attack detection anytime, anywhere. By applying a suite of
proprietary algorithms to simplify vector electrocardiography
(VECG), the HeartBeam platform enables patients and their
clinicians to determine if symptoms are due to a heart attack,
quickly and easily, so care can be expedited, if required.
HeartBeam has two patented products in development. HeartBeam AIMI™
is software for acute care settings that provides a 3D comparison
of baseline and symptomatic 12-lead ECG to more accurately identify
a heart attack. HeartBeam AIMIGo™ is the first and only credit
card-sized 12-lead output ECG device coupled with a smart phone app
and cloud-based diagnostic software system to facilitate remote
heart attack detection. HeartBeam AIMI and HeartBeam AIMIGo have
not yet been cleared by the US Food and Drug Administration (FDA)
for marketing in the USA or other geographies. For more
information, visit HeartBeam.com.
Forward-Looking Statements
All statements in this release that are not based on historical
fact are "forward-looking statements." While management has based
any forward-looking statements included in this release on its
current expectations, the information on which such expectations
were based may change. Forward-looking statements involve inherent
risks and uncertainties which could cause actual results to differ
materially from those in the forward-looking statements, as a
result of various factors including those risks and uncertainties
described in the Risk Factors and in Management’s Discussion and
Analysis of Financial Condition and Results of Operations sections
of our in our Forms 10-K, 10-Q and other reports filed with the SEC
and available at www.sec.gov. We urge you to consider those risks
and uncertainties in evaluating our forward-looking statements. We
caution readers not to place undue reliance upon any such
forward-looking statements, which speak only as of the date made.
Except as otherwise required by the federal securities laws, we
disclaim any obligation or undertaking to publicly release any
updates or revisions to any forward-looking statement contained
herein (or elsewhere) to reflect any change in our expectations
with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.
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version on businesswire.com: https://www.businesswire.com/news/home/20230314005577/en/
Investor Relations Contact: Chris Tyson
Executive Vice President MZ North America Direct: 949-491-8235
BEAT@mzgroup.us www.mzgroup.us
Media Contact:media@heartbeam.com
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