Printer Friendly

COMPUMED TO OFFER OCG TECHNOLOGY'S CARDIOINTEGRAPH FOR EARLY DETECTION OF HEART DISEASE TO ON-LINE CUSTOMERS

 MANHATTAN BEACH, Calif., and NEW YORK, Jan. 11 /PRNewswire/ -- CompuMed, Inc. (NASDAQ: CMPD) and OCG Technology (OCGT) (NASDAQ: OCGT) today announced that CompuMed will begin offering, in the near future, OCGT's patented Cardiointegraph technology (CIG), as an additional fee-per-use service, to CompuMed's approximately 1,800 on-line subscribers nationwide. CompuMed, which processes 250,000 electrocardiograms (ECGs) annually, operates one of the largest telecommunications networks in the country, with software programs for computerized interpretations of ECGs on a real-time basis.
 "Coronary artery disease (CAD), and its complications, is still the leading cause of death in the United States," said Edward C. Levine, President of OCGT.
 "Unfortunately, studies have shown that as many as 50 percent of those individuals who suffer from CAD have normal, resting ECGs. Offered as a fee-per-use service, the CIG provides an effective, low-cost test for the detection of CAD. This is particularly attractive now that the healthcare industry is placing an increasing emphasis on reducing costs while maintaining the high quality of medical treatment. With CompuMed already on-line with its ECG subscribers, the CIG becomes extremely cost-effective and available to the end user without any capital expenditure."
 The CIG is a non-invasive, at-rest test for the early detection of CAD in patients with normal ECGs. It performs the mathematical processing and multiple integrations of the electrical signals of the heart. Subtle deviations from normality, which are not apparent on examination of the standard ECG, can be detected through CIG analysis. Studies show the CIG to be as effective as stress ECG testing in the detection of CAD. The CIG is patented and known to be the only software technology available to perform this function.
 "The combination of CIG sales and our 1,800 existing customers should result in increased revenues for both CompuMed and OCGT," said Robert Stuckelman, President and Chief Executive Officer of CompuMed. "We are also excited about the potential for adding new ECG customers by offering this new and unique service."
 CompuMed and OCGT have completed the necessary testing to assure that OCGT's software will function properly in conjunction with CompuMed's central computer system. CompuMed will charge its subscribers $10 per CIG, with the fee divided equally between CompuMed and OCGT. A selling commission will also be paid to OCGT for any subscribers it adds to CompuMed's service.
 OCGT, based in New York, has, in addition to the patented CIG, completed development of other proprietary cardiodiagnostic devices. The company also markets turnkey financial systems to providers of medical services through a wholly owned subsidiary, which developed and owns a medical accounts receivable program.
 CompuMed, based in Manhattan Beach, is focused on providing solutions to important medical problems through the use of computer technology. In addition to providing computer interpretation of electrocardiograms (ECGS) to about 1,800 doctors and healthcare facilities, the company currently markets the OsteoGram(TM), a bone density test that uses X-ray technology to determine a patient's risk of developing osteoporosis. CompuMed also recently announced its acquisition of an option for the rights to Detoxahol, a new developmental pharmaceutical system that is designed to rapidly reduce the blood alcohol level of people who have been drinking alcohol.
 -0- 1/11/94
 /CONTACT: Jeffrey P. Nelson of OCG Technology, 212-967-3079, or Rich Tammero of Noonan/Russo Communications, 212-696-4455 ext. 222/
 (OCGT CMPD)


CO: CompuMed, Inc.; OCG Technology ST: California, New York IN: MTC SU:

TW-LG -- NY023 -- 0912 01/11/94 10:29 EST
COPYRIGHT 1994 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1994 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 11, 1994
Words:569
Previous Article:UAM PASSES $100 BILLION IN ASSETS UNDER MANAGEMENT, MOVING FIRM HIGHER AMONG 20 LARGEST MONEY MANAGERS
Next Article:PACIFIC RIM ENTERTAINMENT REPORTS FINANCIAL RESULTS FOR NINE-MONTH PERIOD
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters