Cardio Technologies, Inc. Announces Key Additions to Management Team in Finance, Marketing, Engineering.

PINE BROOK, N.J.--(BW HealthWire)--October 22, 1998--Several key additions to the management team of Cardio Technologies, Inc. (CTI), were announced today by Thomas E. Wood, the company's President and Chief Executive Officer.

Cardio Technologies, Inc. a private medical device company, was founded in 1996 to develop new, medical devices and companion products designed to improve survival, increase the quality of life and reduce costs for patients with life threatening diseases. Currently, the main focus of CTI's efforts is the development of the CardioSupport System(TM), an innovative, less invasive, therapeutic device for short-term use in patients with severely compromised heart function.

Lawrence M. Bartz, Vice President, Finance and Chief Financial Officer

Lawrence M. Bartz has been named Vice President, Finance and Chief Financial Officer, Cardio Technologies, Inc.

Before joining CTI, Mr. Bartz's most recent position was Senior Director, Strategic and Financial Planning for United States Surgical Corporation (USSC), where he worked for approximately six years. His responsibilities there in a series of financial management positions included business development, mergers and acquisitions, internal and external financial reporting, financial planning and analysis. In the four years prior to joining USSC, Mr. Bartz was Vice President-Finance and Chief Financial Officer of Phoenix Equity Planning Corporation, and Vice President and Corporate Controller of Phoenix Mutual Insurance Company. He is a Certified Public Accountant whose professional career also includes more than 12 years of multinational experience with Price Waterhouse LLP.

John Bichan, Vice President, Marketing

John Bichan has been named Vice President, Marketing, Cardio Technologies, Inc.

Mr. Bichan has held marketing and sales positions in the cardiovascular divisions at Genzyme Corporation and Meadox Medicals, a division of Boston Scientific Corporation. Before joining CTI, he was the Director of Marketing, Cardiovascular Business at Genzyme Surgical Products. He was responsible for developing and launching minimally invasive surgery devices for coronary bypass and initiating the CV biosurgery program. Before joining Genzyme, he held ascending responsibility in sales and marketing management roles for 17 years at Meadox/Boston Scientific, a manufacturer of vascular stent-grafs, cardiovascular fabrics and artificial arteries. He held positions as the Director of Marketing, International and Director of Sales, Worldwide for this cardiovascular device manufacturer.

Robert W. Reinhardt, Director of Engineering

Robert W. Reinhardt has been named Director of Engineering, Cardio Technologies, Inc.

Mr. Reinhardt has worked for Johnson & Johnson, Cordis as a development engineer and project manager for stents and stent related devices for the interventional cardiology and radiology markets. He led the project to successful international market release and domestic IDE and clinical trials of new stent delivery platform and second-generation stent. At Advanced Cardiovascular Systems, he developed and released products for the interventional cardiology and radiology markets as well as investigated and identified new markets for the current product line. At Meadox Medicals, he helped develop a bioprosthetic heart valve.

"We are delighted with the appointments of Larry, John and Bob, and view them as strong, strategic additions to the CTI team," said Mr. Wood. "The seasoned skills of Larry Bartz in strategic and financial planning, John Bichan in cardiovascular device marketing, and Bob Reinhardt in device design and engineering represent valuable experience in areas that are critical to the growth and future of our company."

CTI Market Opportunity

CTI's CardioSupport System(TM) (CSS) fills a significant need in the rapidly growing, worldwide congestive heart failure market for a reversible, minimally invasive, cost-effective alternative to traditional approaches and therapies. Chronic CHF afflicts about 5 million people in the U.S., and is the only form of heart disease still increasing in frequency, with an estimated 400,000 new cases annually.

The key element of CSS is a cuff-like device, placed around the outside of the heart, that powers a failing or arrested heart by applying external pressure to enhance bloodflow. CSS can support patients until either their native heat function recovers or their clinical condition is deemed appropriate for more long-term or permanent support.

CTI currently is readying the CardioSupport System for feasibility and clinical trials in Europe and the U.S., with the goal of launching European sales in late 1999 and U.S. sales in early 2001.