HEARTLAB ACQUIRES TELECARDIOLOGY AND IMAGE ARCHIVING COMPANY CARDIONOW, INC.

Acquisition enlarges installation base to more than 200 heart centers and expands customer base to include world’s leading cardiovascular core labs and trial sponsors.

• Press release
• NEW ORLEANS
• March 07, 2004 07:10

Heartlab, Inc., a leading developer of cardiac image and information management software announced that it has reached an agreement to purchase CardioNow Corporation, a provider of telecardiology and image archiving solutions to hospitals, cardiovascular core labs and clinical trial sponsors.

CardioNow, based in Encinitas, California, was founded in 1999 by executives from the cardiovascular device, medical imaging, and information technology fields. The company developed a DICOM image archiving and sharing solution specific to cardiology which leveraged the Internet to provide clinicians with the ability to access, share and collaborate over patients' angiograms, echocardiograms and intravascular ultrasound studies from anywhere in the world utilizing standard PC-based technology. CardioNow's customers include leading heart hospitals in the United States as well as the world's leading cardiovascular core labs and trial sponsors that utilize CardioNow's Internet-based technology to streamline and expedite multi-center clinical trials with imaging endpoints.

CardioNow's technology has been utilized to support over 20 multi-center clinical trials including drug-eluting stent studies, bare metal stent studies as well as distal protection device studies. Leading cardiovascular core labs that endorse and actively utilize the CardioNow system include the Brigham & Women's Hospital Angiographic Core Laboratory, The Cardiovascular Research Foundation as well as The University of Florida Cardiovascular Imaging Core Laboratory.

"We are extremely excited about the CardioNow acquisition since it augments our installation base to more than 200 of the leading heart centers in the United States, many of which are institutions that are already actively involved in interventional device and drug clinical trials," commented Robert Petrocelli, CEO, Heartlab Inc. "The acquisition will allow us to expand our scope of services to our existing customers and will also provide us with a unique opportunity to leverage our extensive customer base to work more closely with industry and leading cardiovascular core labs to bring innovative technologies to market sooner, which will ultimately benefit patients, providers and payers."

For additional information, visit the Heartlab booth at the American College of Cardiology Scientific Sessions Meeting in New Orleans (Booth # 4720) or visit www.heartlab.com.

About Heartlab

Founded in 1994, Heartlab is the world's leading designer and supplier of digital image and information networks for cardiology. Named one of America's fastest-growing private companies for the fourth year in a row by Inc. magazine, Heartlab develops application software and integrates systems using industry-standard computer hardware, including Heartlab's own StoreSafe® DVD-R archiving and Oracle's database technology. Heartlab's Encompass™ network gives cardiologists rapid access to imaging exam and report information, enables cardiology centers to operate more efficiently and provides robust protection for critical patient data. Heartlab's networks are installed in more than 200 of the nation's leading heart centers.

About CardioNow

CardioNow, Inc. is a healthcare information technology company dedicated to providing the cardiology community with reliable, secure and cost-effective services for storing and sharing critical patient images and data. CardioNow is the first Image and Information Management Service (IMS) to manage complete DICOM procedures over the Internet. CardioNow's customers include leading heart centers in the United States as well as the world's leading cardiovascular core labs and trial sponsors that utilize CardioNow's Internet-based DICOM image archiving and sharing solution to streamline and expedite data collection and analysis for multi-center clinical trials with imaging endpoints.