Chinese Government Grants Regulatory Approval for Sale of CardioDynamics BioZ.com Systems; Company Launches Product Line in World's Most Populous Country.Business Editors & Health/Medical Writers SAN DIEGO--(BW HealthWire)--May 16, 2000 The State Drug Administration of the People's Republic of China has granted approval for immediate marketing of CardioDynamics International Corp. (Nasdaq:CDIC CDIC Chronic Diseases In Canada (journal) CDIC Canadian Deposit Insurance Corporation CDIC Carbon Dioxide Information Center CDIC Center for Data Intensive Computing (BNL) ) BioZ.com Systems throughout China. CardioDynamics manufactures BioZ(R) noninvasive digital cardiac function monitoring systems. China, the most populous nation in the world with over 1.2 billion people, is expected to have 274 million people over 60 years of age by the year 2025. This is more than the total present population of the United States. In 1996, China had over 60,000 hospitals and over 100,000 clinics, which represents a total market potential of $3.2 billion for CardioDynamics. This market potential conservatively assumes only one BioZ System per facility. The BioZ.com System is well positioned to play an integral role in improving the quality and safety of healthcare in China, as well as reducing increasing healthcare cost. Michael K. Perry, chief executive officer of CardioDynamics, stated, "This approval is a significant step toward the worldwide launch of our proprietary technology. We are fortunate to have two strong medical distributors, Chang Sheng sheng (Chinese; “sage” or “saint”) In Chinese belief, a mortal who attains extraordinary or supernatural powers by self-cultivation and serves as a model for others. Confucius used the term to refer to exemplary rulers of the past. Medical Equipment Co., Ltd. and Massachusetts Medical Company, representing our Company in the expanding Chinese medical marketplace. We believe this market provides an exciting opportunity for our cost-effective, innovative technology." An Wei, general manager of Chang Sheng Medical Equipment, stated, "We are very pleased with the approval, which allows us to immediately begin sales of the BioZ.com in China. Heart disease is a significant problem in our country, killing almost 9 million people every year. As an industry leader, it is our responsibility to provide our customers with the latest in medical technology. The BioZ Systems allow us to fulfill our medical community's need for accurate noninvasive hemodynamic he·mo·dy·nam·ics n. (used with a sing. verb) The study of the forces involved in the circulation of blood. he data." Chang Sheng Medical Equipment Co., Ltd. has exclusive distribution rights to CardioDynamics' products in all Chinese provinces, except the five southeastern provinces and Hong Kong. In these provinces, Massachusetts Medical, which also represents Agilent Technologies (NYSE NYSE See: New York Stock Exchange : A; formerly Hewlett Packard's Medical Products Group), has exclusive distribution rights to CardioDynamics products. The sales teams of both distributors have been trained and can now actively promote the BioZ.com. CardioDynamics, with headquarters in San Diego, is a medical technology and information solutions company committed to fundamentally changing the way hemodynamic monitoring hemodynamic monitoring Clinical medicine A general term for the ongoing evaluation of hemodynamics is performed in healthcare. The company's primary products, the BioZ(R) System and BioZ.com(R), utilize proprietary Impedance Cardiography (ICG ICG indocyanine green. ), DISQ(TM) technology, and the Z MARC(TM) algorithm to noninvasively provide medical professionals with hemodynamic data previously not available in the physician's office and many hospital settings. Just as Electrocardiography electrocardiography (ĭlĕk'trōkärdēŏg`rəfē), science of recording and interpreting the electrical activity that precedes and is a measure of the action of heart muscles. (ECG ECG electrocardiogram. ECG abbr. 1. electrocardiogram 2. electrocardiograph ECG Also called an electrocardiogram, it records the electrical activity of the heart. ) noninvasively measures the heart's electrical characteristics, ICG makes it possible to noninvasively measure the heart's mechanical (blood flow) characteristics. Physicians around the world are currently using the BioZ products, including major medical centers such as Harvard Brigham & Women's (Boston), Mayo Clinic (Rochester), UCSF UCSF University of California at San Francisco Stanford Health Care (Palo Alto), Yale New Haven Hospital (New Haven), and Baylor College of Medicine Baylor College of Medicine is a private medical school located in Houston, Texas, USA on the grounds of the Texas Medical Center. It has been consistently rated the top medical school in Texas and among the best in the United States. (Houston). For additional information, please refer to the company's Web site at www.cdic.com. Forward-Looking (Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. ) 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(R) 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 1999 Form 10-KSB. The company does not undertake to update the disclosures contained in this press release. |
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