Toronto, Ontario--(Newsfile Corp. - October 28, 2014) - CardioComm Solutions, Inc. (TSXV: EKG) ("CardioComm Solutions" or the "Company"), a global medical provider of electrocardiogram ("ECG") acquisition and management software solutions, today announced that is has signed an agency agreement with Cardiac Innovations Australia Pty. Ltd. ("Cardiac Innovations"), a distributor of medical hardware and software solutions into local hospitals and clinics in Australia.
CardioComm Solutions acknowledged the Cardiac Innovations relationship once it was confirmed this distributor had successfully obtained an Australian Register of Therapeutic Goods Certificate from the Department of Health, Therapeutics Goods Administration ("TGA"). TGA clearance is the required regulatory approval for the sale of any of CardioComm Solutions' products into the Australian medical market. The agreement with Cardiac Innovations also makes provision for the future sale of other CardioComm Solutions products and solutions with additional TGA clearances.
Cardiac Innovations sells into a diverse Australian customer base that includes cardiologists, hospitals, electrophysiologists and primary care physicians. Their initial focus with GEMS™ WIN will be on marketing into organizations active in cardiac device implantation and follow-up as well as supporting surveillance in the unexplained syncope and post-ablation patient population.
Cardiac Innovations' interest to become an agent for distribution of the CardioComm Solutions products was in response to a number of Australian medical groups looking for access to the GEMS™ WIN technologies as an alternative, proven and well priced solution that would address their unmet performance and customer support needs. "While the market in Australia is quite diverse, it is currently dominated by one arrhythmia monitoring solution," notes the Managing Director for Cardiac Innovations Australia. "Without local access to a complete cardiac monitoring solution which supports reporting, inventory tracking and varied patient ECG monitoring options, many Australian customers have looked outside the country by attending international conferences or have undertaken training in the United States and Canada through which they were exposed to the CardioComm Solutions' portfolio of products. Other companies in Australia are unable to offer a complete and competitive product for the cardiac rhythm market and this is where the GEMS™ WIN arrhythmia monitoring solution will give us a significant and differentiated competitive advantage."
CardioComm Solutions has reported that a global distribution channel is an important element of their ongoing sales expansion strategy. Securing a local agent to provide GEMS™ WIN sales, technical assistance and customer support in Australia is a competitive advantage for CardioComm Solutions and well positions Cardiac Innovations to realize strong market gains with future expansion potential across the Asia Pacific region.
About CardioComm Solutions
CardioComm Solutions' patented and proprietary technology is used in products for recording, viewing, analyzing and storing electrocardiograms (ECGs) for diagnosis and management of cardiac patients. Products are sold worldwide through a combination of an external distribution network and a North American-based sales team. The Company has earned the ISO 13485 certification, is HPB approved, HIPAA compliant, and has received FDA market clearance for its software devices. CardioComm Solutions, Inc. is headquartered in Toronto, Canada, with offices in Victoria, B.C.
For more information please contact:
Etienne Grima, Chief Executive Officer
1-877-977-9425
investorrelations@cardiocommsolutions.com
Forward-looking statements
This release may contain certain forward-looking statements and forward looking information with respect to the financial condition, results of operations and business of CardioComm Solutions and certain of the plans and objectives of CardioComm Solutions with respect to these items. Such statements and information reflect management's current beliefs and are based on information currently available to management. By their nature, forward-looking statements and forward-looking information involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements and forward-looking information.
In evaluating these statements, readers should: specifically consider risks discussed under the heading "Risk Factors" in the Company's 2013 Annual Information Form, available at www.sedar.com; not to place undue reliance on forward-looking statements and forward-looking information; be aware the Company does not assume any obligation to update the forward-looking statements and forward-looking information contained in this Annual Information Form other than as required by applicable laws (including without limitation Section 5.8(2) of National Instrument 51-102 (Continuous Disclosure Obligations).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
