TORONTO, ONTARIO – CardioComm Solutions, Inc. (TSX VENTURE:EKG) (“CardioComm Solutions” or the “Company”) a consistent, global medical provider of consumer heart monitoring and medical electrocardiogram (“ECG”) software solutions, today announced it has entered into a development, distribution and co-marketing agreement with Israel-based HealthWatch Technologies Ltd. (“HealthWatch”) for the development, sales and marketing of a smart shirt based wireless ECG, vital signs and arrhythmia monitoring solution.
Under the terms of the Agreement, CardioComm will develop software and communications compatibility between HealthWatch’s newly released, FDA cleared and wearable ECG monitoring technology and CardioComm’s own FDA cleared family of ECG management software solutions. By combining their respective FDA medical device clearances the companies will be positioned to offer the only FDA cleared, 12 lead ECG device of its kind available globally. The announcement also indicates CardioComm may be working on introducing multi-bio sign monitoring into their ECG management software.
The companies plan to introduce the smart shirt into two separate markets. The first is the Company’s GEMS™ WIN customer base, which includes over 90 medical installations within North America. Once the work is completed, GEMS™ WIN customers will be able to add use of the smart shirt to their current installations of GEMS™ WIN without a need to add new management software and/or learn new workflows. The second market will be to HealthWatch clients that utilize cloud-based workflows. According to Mr. Israel Schreiber, HealthWatch’s CEO, “HealthWatch is on the verge of a breakthrough with a unique, life changing technology. We at HealthWatch look forward to making a vast change in the field of medical wearable products. Our joint venture with CardioComm will add another important aspect and level to the field of tele-health”. To access this market, CardioComm will connect the smart shirt system through its next generation ECG management solution known as GEMS™ FLEX. GEMS™ Flex is based on the web application model, multi-tier architecture that can run on-premises or in a hosted environment and will operate on all modern browsers with full support for HTML irrespective of the underlying operating system. The software will allow for touch screen operation and accordingly will be compatible for use on mobile devices.
The companies plan to introduce the smart shirt into two separate markets. The first is the Company’s GEMS™ WIN customer base, which includes over 90 medical installations within North America. Once the work is completed, GEMS™ WIN customers will be able to add use of the smart shirt to their current installations of GEMS™ WIN without a need to add new management software and/or learn new workflows. The second market will be to HealthWatch clients that utilize cloud-based workflows. According to Mr. Israel Schreiber, HealthWatch’s CEO, “We at HealthWatch look forward to making a vast change in the field of medical wearable products through the use of our breakthrough and unique technology which will have life changing implications. Our joint venture with CardioComm will add another important aspect and level to the field of tele-health”. To access this market, CardioComm will connect the smart shirt system through its next generation ECG management solution known as GEMS™ FLEX. GEMS™ Flex is based on the web application model, multi-tier architecture that can run on-premises or in a hosted environment and will operate on all modern browsers with full support for HTML irrespective of the underlying operating system. The software will allow for touch screen operation and accordingly will be compatible for use on mobile devices.
The technology to be released will address the global and unmet need for a credible solution to the collection and near-real time review of ECG and vital signs data for sports-based wellness surveillance markets as well as markets requiring long term ECG monitoring. The global cardiac monitoring market is projected to reach US $28 billion by 2021 with the ECG devices segment expected to account for the largest share (Markets and Markets, November 2016) and with North America accounting for approximately 45% of the global value of the ECG equipment sold (Inkwood Research, 2016).
The new smart shirt will provide consumers and patients with a solution that is superior to products manufactured with straps or electrodes with cables, or require the wearer to hold a monitoring device in his/her hand. The new shirt is also perfectly suited for athletes and sports enthusiasts who routinely monitor their ECGs while engaged in physical activity thereby opening up new markets for CardioComm. The Companies plan to offer a first version of a web-based, wireless, 12 lead, and wearable monitoring solution for sale before the end of 2017 into monitoring applications that include: mobile cardiac telemetry; arrhythmia and prolonged QT interval screening; ECG monitoring as an extension to in-hospital and in-clinic services; and, long-term managed care support for people living with chronic medical conditions.
To learn more about the CardioComm Solutions’ products please see the Company’s websites www.theheartcheck.com and www.cardiocommsolutions.com or contact the Company at sales@cardiocommsolutions.com.
