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CardioComm Solutions Completes Arrhythmia Surveillance Deal for Monitoring Heart Disease Patients Treated with Drug Eluting Stents in India
TORONTO, ON / ACCESSWIRE / May 31, 2016 / CardioComm Solutions, Inc. (TSXV: EKG) ("CardioCom...
About this update from Cardiocomm Solutions, Inc.
[{"type":"text","content":"CardioComm Solutions Completes Arrhythmia Surveillance Deal for Monitoring Heart Disease Patients Treated with Drug Eluting Stents in IndiaTORONTO, ON / ACCESSWIRE / May 31, 2016 / CardioComm Solutions, Inc. (TSXV: EKG) (\"CardioComm Solutions\" or the \"Company\"), a global medical provider of consumer heart monitoring and medical electrocardiogram (\"ECG\") software solutions, today announced that it has entered into a sales and ECG services agreement with California-based Vascular Innovations Ltd. (\"Vascular Innovations\"), to provide post-market surveillance of patients with coronary artery disease treated with a new drug eluting stent (\"DES\"). The program will first be launched in India through Vascular Concepts Ltd. (\"VCL\"), an India-based affiliate of Vascular Innovations. \nThe arrhythmia surveillance deal provides a significant revenue opportunity to CardioComm Solutions which will be supported from the over 250,000 pre-paid ECG reading fees that will follow the purchase of a minimum of 8,250 HeartCheck™ devices. Additional revenue is expected from continued patient use of the HeartCheck™ SMART Monitoring service following completion of a pre-paid one month surveillance period. \nUnder the six-year renewable agreement, Vascular Innovations will develop sales and marketing channels to hospitals in India for their coronary and structural heart medical devices with post-market surveillance of patients conducted through the use of HeartCheck™ based technologies. The Company confirms that the Vascular Innovations deal was finalized with the placement of an initial order of 250 HeartCheck™ ECG devices. The first phase for launch of the DES in India will require a maximum of 33 months during which period an additional 2,000 HeartCheck™ devices with pre-paid ECG triages will be utilized. Over the next three years a minimum of 6,000 additional HeartCheck™ ECG devices will be purchased with pre-paid ECG triages. Based on the results of their DES treatment program in India, Vascular Innovations plans to expand the launch of their surgical treatments and patient surveillance program into other territories globally from which CardioComm Solutions will derive further benefits. \nUnder the sponsored arrhythmia/rhythm surveillance program, patients implanted with a Vascular Innovations med...