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GE Marquette Medical Systems and Cardiodynamics Announce Strategic Alliance |
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OCT 20,1999 4:01 PACIFIC 07:01 EASTERN GE Marquette Medical Systems and CardioDynamics SAN DIEGO--(BW HealthWire)--Oct. 20, 1999--GE Marquette Medical Systems (NYSE:GE) and CardioDynamics International Corporation (Nasdaq:CDIC), today announced that the companies have signed a U.S. hospital distribution agreement, expanding their European distribution agreement announced in August. The agreement provides GE Marquette exclusive rights to market and sell CardioDynamics' BioZ® noninvasive digital cardiac output monitoring systems to hospitals in the U.S. CardioDynamics' direct sales force, specialized in out-of-hospital sales, will continue to sell the BioZ product line to physician offices, where they have been highly effective. The companies will be jointly exhibiting the BioZ Systems at the American Heart Association Session Nov. 8-11, 1999, in Atlanta. Commenting on the agreement, Kevin King, vice president of Global Marketing, GE Marquette Medical Systems, stated, "It is very exciting to expand our European distribution relationship with CardioDynamics to include hospitals in the U.S. This is an area where GE Marquette is well-established, and we expect the leading-edge clinical capabilities of the BioZ Systems to be welcomed by U.S. healthcare providers. "The BioZ Systems can help healthcare providers improve the quality of care and lower the cost of treatment by supporting a noninvasive assessment of cardiovascular function." "CardioDynamics has built a core competency in selling to physician offices and outpatient heart failure clinics, and this latest agreement with GE Marquette should drive incremental business through increased penetration of our BioZ Systems into U.S. hospitals," stated Michael K. Perry, CEO of CardioDynamics. "GE Marquette has a significant presence in the U.S. and is strongly recognized globally for its leading technologies in the areas of diagnostic cardiology, clinical information systems, and patient monitoring equipment. "The agreement capitalizes on GE Marquette's established relationships and expands our sales presence ten-fold in the U.S. hospital marketplace. This alliance provides a solid foundation to significantly grow sales of our proprietary technology and establish the BioZ's measurement capabilities as the Sixth Vital Sign™," added Perry. CardioDynamics, with headquarters in San Diego, is committed to fundamentally changing the way hemodynamic monitoring is performed in healthcare. The company's primary product, the BioZ.com™, utilizes its proprietary Impedance Cardiography (ICG) technology to noninvasively obtain data on a wide range of hemodynamic parameters. The worldwide market potential for the BioZ® products is estimated to be $4 billion, together with an additional $800 million in recurring annual revenue for disposables. For additional information, please refer to the company's web site at www.cardiodynamics.com. GE Marquette Medical Systems is a leading global provider of medical diagnostic equipment and services including diagnostic cardiology, patient monitoring and clinical information systems. GE Marquette, a GE Medical Systems Company, is headquartered in Milwaukee. Additional information about GE Marquette and its products can be found on the company's web site at http://www.mei.com. GE Medical Systems is a $6 billion business, employing nearly 20,000 people worldwide. Forward-Looking (Safe Harbor) Statement: Note: Except for the historical and factual information contained herein, this press release contains forward-looking statements, the accuracy of which are necessarily subject to uncertainties and risks, which include sole dependence on the BioZ product line, competition from Baxter Healthcare Corp. (manufacturer of the Swan-Ganz™ device), further capital requirements, and various uncertainties characteristic of companies just emerging from the development stage; as well as other risks detailed in the company's filings with the SEC, including its 1998 Form 10-KSB. The company does not undertake to update the disclosures contained in this press release. CONTACT: CardioDynamics International, San Diego BW0182 AUG 26,1999 9:14 PACIFIC 12:14 EASTERN GE Marquette Medical Systems and CardioDynamics International Announce Strategic Alliance MILWAUKEE and SAN DIEGO---Aug. 26, 1999--GE Marquette Medical Systems and CardioDynamics International Corp. (Nasdaq:CDIC), today announced a strategic alliance between the companies. The alliance provides GE Marquette exclusive rights to market and sell CardioDynamics' BioZ® noninvasive digital cardiac output monitoring systems to hospitals in select European countries, including France, Germany, Belgium, Netherlands, and Luxembourg. Additionally, the alliance provides for further avenues of cooperation, including technology integration. Under the terms of the agreement, GE Marquette will initially purchase $714,000 of BioZ.com Systems and accessories to launch its European sales effort. The companies will be jointly exhibiting the BioZ System at the XXIst European Congress of Cardiology August 28 - September 1, 1999 in Barcelona, Spain. "The BioZ monitoring system answers our customer's needs for an accurate and noninvasive assessment of cardiovascular function and complements our overall corporate commitment to reducing costs while maintaining quality patient care," said Gary Close, vice president of Global Marketing, GE Marquette Medical Systems. "GE Marquette has launched a very progressive cardiology management program called CardioIntelligence, that aggregates the many different data types used for the comprehensive management of the cardiology patient. The BioZ system will provide an important and new set of clinical data for a more complete view." Michael K. Perry, chief executive officer of CardioDynamics, stated, "Our alliance with GE Marquette will facilitate tremendous access to their monitoring and cardiology product platforms and also will enable us to reach a significantly expanded number of European customers with our noninvasive cardiac function monitoring technology. The initial commitment of $714,000 for Europe is sizeable to CardioDynamics and the partnership is anticipated to significantly boost future sales." Perry added, "This alliance builds on CardioDynamics' expertise in noninvasive monitoring technology and rapid product development, as well as GE Marquette's recognized position in medical diagnostic and monitoring equipment to hospitals. GE Marquette has global market presence and offers great potential to accelerate the use of noninvasive hemodynamic monitoring. We believe this relationship with GE Marquette will help establish the BioZ's measurement capabilities as the Sixth Vital Sign™." CardioDynamics, with headquarters in San Diego, is committed to fundamentally changing the way hemodynamic monitoring is performed in healthcare. The Company's primary product,the BioZ.com®, utilizes its proprietary Impedance Cardiography (ICG) technology to noninvasively obtain data on a wide range of hemodynamic parameters. The worldwide market potential for the BioZ® products is estimated to be $4 billion, together with an additional $800 million in recurring annual revenue for disposables. For additional information, please refer to the company's Web site at www.cardiodynamics.com. GE Marquette Medical Systems is a leading global provider of medical diagnostic equipment and services including diagnostic cardiology, patient monitoring and clinical information systems. GE Marquette, a GE Medical Systems Co., is headquartered in Milwaukee. Additional information about GE Marquette and its products can be found on the company's web site at http://www.mei.com. GE Medical Systems is a $6 billion business, employing nearly 20,000 people worldwide. Forward-Looking (Safe Harbor) Statement: Note: Except for the historical and factual information contained herein, this press release contains forward-looking statements, the accuracy of which are necessarily subject to uncertainties and risks, which include sole dependence on the BioZ product line, competition from Baxter Healthcare Corp. (manufacturer of the Swan-Ganz™ device), further capital requirements, and various uncertainties characteristic of companies just emerging from the development stage; as well as other risks detailed in the company's filings with the SEC, including its 1998 Form 10-KSB. The company does not undertake to update the disclosures contained in this press release. CONTACT: CardioDynamics International |
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