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Roderick de Greef Named Chairman of Cambridge Heart Board of Directors

^{Published on 2008-11-24 14:48:27 - Market Wire}
 

TEWKSBURY, Mass.--([ BUSINESS WIRE ])--Cambridge Heart, Inc. (OTCBB-CAMH), today announced that veteran financial executive, Roderick de Greef, has been named Chairman of its Board of Directors, effective immediately. Kenneth Hachikian, the former chairman, will remain on the eight-member Board and will become Lead Independent Director. In addition to chairing the board, Mr. de Greef will become a member of the senior management team and will have responsibilities in the areas of corporate strategy development and execution, financing, and investor relations.

Mr. de Greef, 47, a former Chief Financial Officer of Cambridge Heart, has served in a variety of executive positions at private and publicly held medical technology companies throughout the past two decades. In addition to his former CFO role at Cambridge Heart, he was the Executive Vice President and Chief Financial Officer of Cardiac Science, Inc., having served in that role during a period of product introductions and rapid revenue growth, and through the company's merger with Quinton Cardiology in 2005. He currently provides strategic financial consulting services to a number of life science companies and serves on the boards of several publicly traded companies, including Endologix, Inc., and BioLife Solutions, Inc.

"Based on his financial, operating and governance experience in the medical device field and his first hand knowledge of Cambridge Heart and its technology, Rod is uniquely positioned to add value to our efforts," said Chief Executive Officer Ali Haghighi-Mood. "I very much look forward to working with Rod. I also would like to thank Ken Hachikian for his dedicated service as chairman and look forward to continue working with Ken as a fellow board member and lead independent director. "

Mr. Hachikian added that Mr. de Greef's knowledge of Cambridge Heart will serve the shareholders' interests well.

"In addition to his general business experience, Rod knows the Company and the management team," Mr. Hachikian said. "His role in the strategic and investor aspects of the Company is welcomed and we look forward to working with him to address our strategic challenges. Rod is able to provide the time to the tasks involved and the Board believes he will be a strong addition to the management team."

Mr. de Greef has a bachelor's degree in economics and international relations from California State University at San Francisco and earned his MBA from the University of Oregon.

"I appreciate the opportunity to work with Ali, the executive team, and the Board on creating and building shareholder value," Mr. de Greef said. "Although the Company is in a transitional period where it faces a number of challenges in the near term, I believe the fundamental elements for a successful future - such as a proven technology, sound economic drivers in the marketplace, and attractive opportunities for partnering - are all in place."

About Cambridge Heart, Inc.

Cambridge Heart ([ www.cambridgeheart.com ]) is engaged in the development and commercialization of products for the non-invasive diagnosis of cardiac disease, particularly the identification of those at risk of sudden cardiac arrest. The Company's products incorporate its proprietary Microvolt T-Wave Alternans measurement technologies, coupled with its patented Spectral Analytic Method and ultra-sensitive disposable electrode sensors. Only Spectral Analytic Method MTWA tests are reimbursed by Medicare under its National Coverage Policy that covers patients with a wide variety of cardiac symptoms. Other major insurers in the USA also have coverage policies for the test. The T-Wave Alternans test is included in the Guideline for Management of Patients with Ventricular Arrhythmias and the Prevention of Sudden Cardiac Death jointly developed by the American College of Cardiology (ACC), The American Heart Association (AHA) and the European Society of Cardiology (ESC). The Company, founded in 1990, is based in Tewksbury, Massachusetts and is traded on the OTCBB under the symbol CAMH.

About the Cambridge Heart Microvolt T-Wave Alternans Test

The Cambridge Heart Microvolt T-Wave Alternans Test measures a specific extremely subtle pattern of beat-to-beat fluctuations in a person's electrocardiogram. This pattern of fluctuations is called T-wave alternans. These tiny variations in the electrocardiogram - measured at one millionth of a volt accuracy – are most commonly measured during a sub-maximal exercise stress test in the doctor's office or hospital outpatient setting. The preparation for the test consists of placing proprietary sensors on the patient's chest. Extensive clinical research has shown that those patients who are at risk of ventricular tachyarrhythmia that test positive for microvolt T-wave alternans are at increased risk for sudden cardiac death, while those who test negative are at reduced risk.

Statements contained in this press release are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995.In some cases, we use words such as "believes", "expects", "anticipates", "plans", "estimates", "could", and similar expressions that convey uncertainty of future events or outcomes to identify these forward-looking statements.Actual results may differ materially from those indicated by these forward-looking statements.Factors that may cause or contribute to such differences include failure to achieve broad market acceptance of the Company's MTWA technology, failure of our sales and marketing organization to market our products effectively, inability to hire and retain qualified clinical applications specialists in the Company's target markets, failure to obtain or maintain adequate levels of third-party reimbursement for use of the Company's MTWA test, customer delays in making final buying decisions, decreased demand for the Company's products, failure to obtain funding necessary to develop or enhance our technology, adverse results in future clinical studies of our technology, failure to obtain or maintain patent protection for our technology and other factors identified in our most recent Annual Report on Form 10-K/A under "Risk Factors", which is on file with the SEC and available at [ www.EDGAR.com ].In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date.While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so except as may be legally necessary, even if our estimates should change.