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 MINNEAPOLIS, Nov. 5 /PRNewswire/ -- Seismed Instruments has announced that it will cease operations by the end of the year because it has been unable to raise additional capital or to find a corporate partner. During the next 60 days, the company will seek to sell the rights to the technology it has been developing and all existing inventory.
 Seismed Instruments has been engaged in the development of noninvasive diagnostic cardiology instrumentation using seismic technology to evaluate mechanical heart function, a procedure known as seismocardiography (SCG). The primary application of the technology, which showed promising results in two major clinical studies, was for the detection of coronary artery disease.
 In May 1993, the company downsized to a small core technology group to work on resolving technology issues related to the automatic processing and interpretation of the SCG waveform. Although significant progress has been made in improving signal processing and analysis techniques during the past six months, the company believes that further research and development efforts are necessary to fully optimize these technical problems. The company has not been able to raise the capital required to fund the necessary research and development activities. Furthermore, when technology issues are satisfactorily resolved, physician acceptance and reimbursement for the SCG procedure would need to be obtained for a successful reintroduction of the company's products.
 The four remaining employees will continue on a part-time basis and have been asked by the board to proceed with an orderly winding down of the company's affairs. These activities are expected to be completed by the end of the year. The company anticipates that the members of the board of directors and management will resign upon the completion of winding down operations. It is anticipated that there will be no further public market for the company's common stock.
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 /CONTACT: Christine B. DeWitt, general manager of Seismed Instruments, 612-473-5151/

CO: Seismed Instruments Incorporated ST: Minnesota IN: MTC SU:

DB-DS -- MN007 -- 1241 11/05/93 12:53 EST
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Publication:PR Newswire
Date:Nov 5, 1993
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