HeartBeam Enters into Strategic Alliance Agreement with Samsung
May 30 2023 - 08:00AM
Business Wire
HeartBeam, Inc. (NASDAQ: BEAT), a cardiac technology
company that has developed the first and only 3D-vector
electrocardiogram (VECG) platform intended for patient use at home,
today announced that it has entered into a Strategic Alliance
Agreement (SAA) with Samsung, extending the existing SAA between
LIVMOR and Samsung. HeartBeam acquired the assets of LIVMOR earlier
this year.
Under the terms of the agreement, HeartBeam and Samsung will
identify and define opportunities for collaboration, tapping the
HeartBeam team's expertise and patented technology in the
assessment and monitoring of cardiac symptoms.
“The goal of this partnership is to bring standard of care for
cardiac diagnostic capabilities to patients by utilizing cutting
edge technologies of both Samsung and HeartBeam,” said Branislav
Vajdic, Ph.D., HeartBeam CEO and Founder. “Our newly acquired state
of the art, FDA cleared, Samsung watch-based arrhythmia detection
tool, once integrated with the HeartBeam AIMIGo™ telehealth
platform, presents a unique opportunity to extend our product
capabilities well beyond what is currently available for cardiac
patients outside of a medical setting.”
Kevin Jones, Senior Director, Federal Healthcare, Samsung
Electronics America, added, “The strategic collaboration between
Samsung and LIVMOR was very successful, resulting in an FDA cleared
solution for Atrial Fibrillation detection centered around the
Samsung Galaxy watch and tablet running Samsung's defense-grade
cyber-security system, Knox. We are excited that LIVMOR is now part
of HeartBeam and look forward to continuing our successful
collaboration. The potential of combining LIVMOR’s technology and
the HeartBeam AIMIGo system holds significant promise to address
major cardiac conditions for our veterans.”
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. Under
the previous SAA, LIVMOR and Samsung developed a
physician-prescribed and fully integrated patient care platform
that provides extended monitoring of patient cardiovascular health
in virtually any setting, using medical grade equipment. LIVMOR’s
technology was commercially deployed within the VA Healthcare
System in Dallas, Texas.
“Thanks to our cooperation with LIVMOR and Samsung, we are able
to treat some of the nation’s most at-risk patients as safely and
effectively from the comfort of their homes as we would if they
were sitting in an exam room,” said Dr. Jerrold Grodin, Department
of Veterans Affairs, North Texas. “We’ve seen an increase in early
adoption from patients when their physicians are also early
adopters.”
Among the available opportunities is a potential collaboration
with the Department of Veterans Affairs through its Accelerating VA
Innovation and Learning (AVAIL) program. In September, the VA
announced that 17 companies had won spots in a potential five-year,
$650 million healthcare technology research and development
program. Participants provide subject-matter expertise to help the
agency design, build and test novel platforms, services and care
models that could be scaled into clinical production to support the
Veterans Health Administration.
One of the AVAIL program's awardees is Longview International
Technology Solutions (LTS), a systems integration company. LIVMOR
and Samsung have been designated as official collaborators with LTS
for the AVAIL project. With the Company’s anticipated participation
in the AVAIL project, HeartBeam could share its expertise in the
assessment and monitoring of cardiac symptoms as it collaborates
with Samsung to innovate and develop solutions for the VA, the
largest integrated healthcare system in the U.S.
"Veterans reported a rate of heart attacks more than twice that
of non-veterans in one study," Dr. Vajdic added. "This shows that
coronary artery disease is a significant problem for veterans,
making improvements in heart attack detection at the VA
particularly critical."
About HeartBeam, Inc.
HeartBeam, Inc. (NASDAQ: BEAT) is a cardiac technology company
that has developed the first and only 3D-vector ECG platform
intended for patient use at home. By applying a suite of
proprietary algorithms to simplify vector electrocardiography
(VECG), the HeartBeam platform enables patients and their
clinicians to assess their cardiac symptoms 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 evaluation of cardiac
symptoms. 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.
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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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