Business
Event Cardio Group Satisfies Short Term Financing Needs
Event Cardio Group Satisfies Short Term Financing Needs.
About this update from Ecgi Holdings Inc.
[{"type":"text","content":"\n \n \n Event Cardio Group Satisfies Short Term Financing Needs\n \n \nEvent Cardio Group Satisfies Short Term Financing Needs\n\nEvent Cardio Group Raises an Additional $185,000\n\n \n NEW YORK, NY--(Marketwired - Sep 8, 2015) -  Event Cardio Group, Inc. (www.eventcardiogroup.com) (OTCQB: ECGI), a medical device company specializing in the detection and preventive treatment of high-risk diseases, is pleased to announce that it has received $185,000 in equity investments. Coupled with $110,000 which the Company received approximately three weeks ago, the Company now has sufficient financing to satisfy its requirement for immediate cash and complete the development of its NowCardio device.\n With its short term needs addressed, the Company will now seek to achieve its long term goal of obtaining sufficient funding to complete the fully automated manufacturing line for Breast Care DTS and completing approvals for NowCardio from both Health Canada and the FDA.\n President and CEO John Bentivoglio stated, \"With the completion of this short term funding, we can now focus on our long term goals and negotiate with those groups that have expressed interest to best satisfy our long term funding requirement. Completion of a major funding will ensure the imminent production of BreastCare DTS™ at Ceres Technologies. We are looking forward to completion of the fully automated manufacturing line early in 2016. The fully automated manufacturing line will be capable of producing a high volume of BreastCare DTS™ devices for worldwide distribution. NowCardio™ certification is advancing as planned, and we anticipate releasing this innovative product to the market in late 2015.\"\n BREAST CANCER DETECTION MARKET: The global Point of Care market in 2011 was approximately $18.7 billion, up from $10.3 billion in 2005. In the U.S. alone, the combined breast cancer detection/diagnostic market was valued at more than $2.2 billion in 2008, and is expected to continue in a stable growth pattern over the next several years. Analysts have suggested a conservative growth rate of approximately 5.4% per year.\n CARDIAC MONITORING MARKET: The combined U.S. cardiac equipment and services market in 2012 was estimated at $3.86 billion and is expected to grow to $4.19 billion in 2016. Globally, the cardiac monitoring market is...