Cardiac Science Announces Record Revenue of $1.2 Million in Third Quarter.Business Editors & Health/Medical Writers BIOWIRE2K IRVINE, Calif.--(BW HealthWire)--Oct. 4, 2000 213 Powerheart(R) Hospital Bedside Defibrillator-Monitors Sold Cardiac Science Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : DFIB), the developer of the only hospital monitor that provides life-saving defibrillation Defibrillation Definition Defibrillation is a process in which an electronic device sends an electric shock to the heart to stop an extremely rapid, irregular heartbeat, and restore the normal heart rhythm. within seconds and without the aid of hospital staff, today announced that it sold 213 Powerheart(R) defibrillator-monitors for the three months ended September 30 resulting in record sales of $1,207,000. This performance represents a 30 percent increase in revenue compared to the quarter ended June 30, 2000. Revenue for the nine-month period ended September 30, 2000 totaled $2,756,604 and compares to no revenues for the same period in 1999. Powerheart represents the first commercial product to utilize Cardiac Science's proprietary tachyarrhythmia tachyarrhythmia /tachy·ar·rhyth·mia/ (tak?e-ah-rith´me-ah) any disturbance of the heart rhythm in which the heart rate is abnormally increased. tach·y·ar·rhyth·mi·a n. detection and defibrillation technology and related disposable defibrillation electrodes. A total of 483 devices have been sold since market introduction of Powerheart earlier this year. "Third quarter sales of $1.2 million reflect increasing adoption of our Powerheart technology," said Michael Gioffredi, vice president, sales and marketing. "As we continue to execute our sales and marketing plan, we anticipate continued revenue growth." About Cardiac Science Cardiac Science develops and markets life-saving external cardiac defibrillator defibrillator, device that delivers an electrical shock to the heart in order to stop certain forms of rapid heart rhythm disturbances (arrhythmias). The shock changes a fibrillation to an organized rhythm or changes a very rapid and ineffective cardiac rhythm to a devices and proprietary software that monitor and automatically treats cardiac arrest cardiac arrest n. Abbr. CA A sudden cessation of cardiac function, resulting in loss of effective circulation. Cardiac arrest A condition in which the heart stops functioning. patients. RHYTHMx ECD ECD Early Childhood Development ECD Electron Capture Detector ECD Energy Citations Database ECD Executive Creative Director (advertising) ECD Ethyl Cysteinate Dimer ECD Electron Capture Dissociation ECD Electronic Civil Disobedience (TM) tachyarrhythmia detection and defibrillation software, the company's core proprietary technology platform, has multiple applications including use in external defibrillators, wearable defibrillators and in the standard patient monitors widely used in hospitals throughout the world. Powerheart, Cardiac Science's first commercial product, began shipping this year and is currently used in hospitals worldwide. Results from a multi-center study, recently published in Pacing and Clinical Electrophysiology (PACE Vol. 22; 11/1999; p. 1648-1655), a peer reviewed cardiology cardiology Medical specialty dealing with heart diseases and disorders. It began with the 1749 publication by Jean Baptiste de Sénac of contemporary knowledge of the heart. Diagnostic methods improved in the 19th century, and in 1905 the electrocardiograph was invented. journal, concludes the Powerheart potentially represents a means to improved both mortality and morbidity associated with in-hospital cardiac arrest. Cardiac Science's global sales network consists of prominent distributors in 41 countries encompassing Asia, the Middle East, Europe, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . The company has an exclusive agreement with Medtronic Physio-Control, a division of Medtronic, Inc., the worldwide market leader in external defibrillator products, to distribute the Powerheart in the U.S., Canada, and nine European countries. In June 2000, Cardiac Science licensed its proprietary technology to Medtronic Physio-Control for integration into Medtronic Physio-Control's LIFEPAK(R) products for the hospital market. For more information, visit our Internet site at www.cardiacscience.com. This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Such forward-looking statements include, but are not limited to: The Powerheart's safety and efficacy, its ability to increase survival rates for in-hospital cardiac arrest victims, its ability to improve patient-care and lessen patient debilitation debilitation being in a state of debility. ; the Company's ability to successfully integrate its technology into Medtronic Physio-Control's LIFEPAK products; future expenditures for marketing and development; and applications of the Company's technology. Cardiac Science cautions that these statements are qualified by various known and unknown factors that could cause actual results to differ materially from those reflected by the forward-looking statements. Such factors include, but are not limited to: future economic, regulatory, and market conditions; future business decisions; market and clinical users' acceptance of new and existing products; impact of competitive products and pricing; and changing market conditions. Information on these and other factors are detailed in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ending December 31, 1999 and other documents filed with the Securities and Exchange Commission. The Powerheart and RHYTHMx ECD are a trademark of Cardiac Science Inc. LIFEPAK is a trademark of Medtronic Physio-Control. |
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