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CardioNet Recognized as One of “50 Companies to Watch” by Medical Device & Diagnostic Industry

Aug 28, 2006

CardioNet, the first company to provide mobile cardiac outpatient telemetry (MCOT), has been selected by the editors of Medical Device & Diagnostic Industry (MD&DI) as one of “50 Companies to Watch.” In a recent issue, companies are recognized for “representing the best the industry has to offer” through both their achievements in today's medical technology and contributions to the medical device and healthcare industries.

“We are thrilled to be included among the ‘50 Companies to Watch.' This recognition underscores the achievements and success of our company and our technology,” said James M. Sweeney, CardioNet chairman and CEO. “Everyday, we are serving patients by helping clinicians prevent morbidity and disability through rapid diagnosis of heart conditions that may otherwise go undetected. On behalf of all of our employees, we are honored to receive this acknowledgment of our efforts.” Sweeney also noted that CardioNet has passed an important milestone – monitoring more than 50,000 patients with its MCOT technology.

Recently, patient enrollment in a multi-center randomized trial comparing the efficacy of CardioNet's technology with event monitoring was completed by principal investigator Steven A. Rothman, M.D., Mainline Arrhythmia and Cardiology Consultants, Wynnewood, Pa. “We look forward to the publication of this extremely important study,” added Sweeney. “We expect that the results of this clinical trial will lend further credibility to our monitoring system, provide clinical data to physicians and help expand utilization.”

In February 2002, CardioNet received FDA marketing clearance for its core technology, which continuously monitors and transmits patients' ECG data to the CardioNet monitoring center. In so doing, the company has enabled patients to continue to engage in normal everyday life while being monitored.

Expanded Management Team

CardioNet recently announced the addition of two industry veterans to the management team: David S. Wood as president and COO, and Mike Gebauer as vice president of sales and marketing. Sweeney added, “We have a solid, expanding customer base, and we are pleased to welcome these talented individuals to help us grow the business and achieve our long-term objectives.”

Wood has over 25 years of experience in the healthcare industry. He joined CardioNet in April 2006 from the Minneapolis-based medical company SurModics, Inc., where he served as vice president of the Diagnostics and Drug Discovery Business Unit and vice president and general manager of the Drug Delivery Business Unit. Prior to joining SurModics, he held management positions in product development, operations and marketing at the Guidant Cardiac Rhythm Management division, now part of Boston Scientific. He received his undergraduate degree in chemical engineering from Vanderbilt University and an M.B.A. from The Wharton School at the University of Pennsylvania.

Gebauer was most recently the vice president of marketing for CHF Solutions, Inc., a Minnesota-based private manufacturer of devices for cardiac care. From 1992 to 2005, Gebauer held several sales, marketing and product development positions with increasing responsibility at Guidant (now Boston Scientific), Physio-Control (now Medtronic) and CIBA-Geigy (now Novartis). He also served as a pilot and instructor pilot for the U.S. Air Force from 1987 through 1992. Gebauer earned a bachelor's degree in operations research from the U.S. Air Force Academy and an M.B.A. from Webster University.

About CardioNet

CardioNet, headquartered in San Diego with facilities in Philadelphia, develops, manufactures and integrates cardiac monitoring, wireless communications, and proprietary information management technologies for the healthcare industry. CardioNet provides the next-generation ambulatory cardiac monitoring service with beat-to-beat, real-time analysis, automatic arrhythmia detection and wireless transmission.

CardioNet's signature service, called Mobile Cardiac Outpatient Telemetry (MCOT), allows doctors to capture significant arrhythmic events or definitively verify that no arrhythmic event occurred over a period of up to 21 days. Common applications include primary cardiac diagnostics, post-procedure monitoring and drug titration for heart rate control medications.