Health & Fitness
Health and Fitness
Health and Fitness
Thu, October 20, 2011
Cambridge Heart Announces Initial Results of OEM Module Marketing Promotion
TEWKSBURY, Mass.--([ BUSINESS WIRE ])--[ Cambridge Heart, ] Inc. (OTCBB: CAMH), a developer of non-invasive diagnostic tests for cardiac disease, today announced that the marketing promotion it launched with its OEM partner, Cardiac Science, in July 2011 has yielded an initial increase in placements of its [ Microvolt T-Wave Alternans ]a" (MTWA) OEM Module. Since the implementation of the promotion in late July through the quarter ended September 30th 2011, 45 OEM Modules were shipped to purchasers of Cardiac Sciencea™s Q-Stress system, compared with 13 units shipped in the preceding nine months.
"Building an installed base of OEM Modules is the first step to generating recurring revenue growth in future quarters through the sale of our proprietary sensors."
The OEM Modules are expected to begin generating recurring revenue through the sale of proprietary Micro-V Sensors following in-servicing by Cambridge Hearta™s team of clinical specialists during this quarter. The Company expects to begin working with Cardiac Science in the coming quarter to develop a similar marketing program targeted at the existing installed base of Q-Stress users.
aWe are pleased with the results of our new marketing initiative, and expect the rate of placements to continue to accelerate as we work closely with the Cardiac Sciencea™s sales team,a said Cambridge Hearta™s President and CEO, Ali Haghighi-Mood. aBuilding an installed base of OEM Modules is the first step to generating recurring revenue growth in future quarters through the sale of our proprietary sensors.a
About Cambridge Heart, Inc.
Cambridge Heart develops and commercializes non-invasive diagnostic tests for cardiac disease, with a focus on identifying those at risk for sudden cardiac arrest (SCA). The Companya™s products incorporate proprietary Microvolt T-Wave Alternans measurement technologies, including the patented Analytic Spectral Method® and ultrasensitive disposable electrode sensors. The Companya™s MTWA test, originally based on research conducted at the Massachusetts Institute of Technology, is reimbursed by Medicare under its National Coverage Policy.
Cambridge Heart, founded in 1990, is based in Tewksbury, MA. It is traded on the Over-The-Counter Bulletin Board (OTCBB) under the symbol CAMH.OB.
[ http://www.cambridgeheart.com ].
Statements contained in this press release that are not purely historical are forward-looking statements.In some cases, we use words such as abelievesa, aexpectsa, aanticipatesa, aplansa, aestimatesa, acoulda, and similar expressions that convey uncertainty of future events or outcomes to identify these forward-looking statements.These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties.Forward-looking statements include statements about the Companya™s plans with respect to future revenue growth.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 obtain funding necessary to fund operations and to develop or enhance our technology, adverse results in future clinical studies of our technology, material deviations from our current operating plan, lower than expected sales by Cardiac Science of its Q-Stress System, failure to obtain or maintain adequate levels of government and third-party reimbursement for use of our MTWA test, customer delays in making final buying decisions, decreased demand for our products, failure to obtain or maintain patent protection for our technology and other factors identified in our most recent Annual Report on Form 10-K under aRisk Factorsa, 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.
