FAA APPROVES COMPUMED, INC. AS TELECARDIOLOGY VENDOR ENHANCED ECG MACHINES SHIPPED TO FAA'S AVIATION MEDICAL EXAMINERS
Los Angeles – December 03, 2007 -- CompuMed, Inc. (CMPD.OB) - a medical informatics company serving the healthcare community with diagnostic software solutions - today announced that it has begun shipping its CardioGram(TM) enhanced electrocardiogram (ECG) machines to Federal Aviation Administration (FAA) Senior Aviation Medical Examiners (Sr. AME). CompuMed is a leader in providing ECG equipment and services to more than 1,000 locations throughout the U.S and performing nearly 400,000 transtelephonic ECG interpretations annually.
Sr. AMEs are doctors providing pilot medical screening services required by the Aeromedical Certification Division of the FAA. CompuMed's CardioGram machines are compatible with the FAA's ECG Administrative Data System and are able to transmit ECG data directly to the FAA. CompuMed has added 25 Sr. AMEs to its customer base during the first step of the program. According to the FAA there are more than 1,700 Sr. AMEs in the US.
Maurizio Vecchione, CompuMed's president and CEO said, "Our FAA announcement today represents the first significant expansion of the Company's ECG business outside the prison and correctional marketplace. It is the first step in our strategy to accelerate growth of our CardioGram business by targeting new markets."
CompuMed has been a leading pioneer of telemedicine, establishing one of the nation's largest telecommunications networks for processing ECGs on a real time basis. Cardiac events are frequently life threatening. Using a CompuMed ECG terminal, an ECG can be acquired from a patient, telecommunicated to CompuMed's central computers, analyzed and received back on the ECG terminal where the ECG trace and computer interpretation are printed, all within three minutes.
If desired, CompuMed can immediately provide an over-read by a cardiologist and return the results within an hour. CompuMed recently updated its equipment offering, and customers can now select from a line of low or high volume ECG terminals, including Internet enabled systems.
Vecchione said, "We see significant new growth opportunities for CompuMed in government contracting. We are looking at the military, the VA and other agencies where timely remote access to cardiology examinations is critical. In addition to pursuing more of our core business in the correctional marketplace, we also are taking a hard look at rural health, clinical research organizations and surgical centers."
Vecchione added that because of the company's significant experience in ECG interpretations, expanding the market into new directions could be done without significantly adding costs to the company's operation.
About CompuMed:
CompuMed, Inc. (CMPD.OB) develops and markets products and services that combine advanced imaging with medical informatics. Its focus is on analysis and remote monitoring for patients with cardiovascular and musculoskeletal diseases. The Company has specialized expertise and intellectual property in telemonitoring imaging and analysis designed to improve healthcare provider workflow and patient care while reducing costs. CompuMed's core products, the OsteoGram(R) and CardioGram(TM), are cleared by the FDA and reimbursable by Medicare. The OsteoGram is a non-invasive diagnostic system that has been proven by many clinical studies to provide effective and accurate bone density measurement for screening osteoporosis and assessing hip fracture risk. The OsteoGram has significant cost advantages over other technologies in the marketplace. The CardioGram system is one of the first telecommunication networks designed to remotely interpret electrocardiograms and is used by private practice, as well as government and corporate healthcare providers nationwide. The CardioGram delivers online electrocardiogram interpretations within minutes of receipt and has the additional capability of automatically providing an over-read (i.e., follow-up review) by a cardiologist. CompuMed is headquartered in Los Angeles and distributes its products worldwide both directly and through OEM partners. Visit CompuMed on-line at www.compumed.net.
Statements contained in this press release that are not historical facts, such as statements about prospective earnings, savings, revenue, operations, revenue and earnings growth, results of contracts and other financial results, are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements including statements concerning the Company's plans, objectives, expectations and intentions are based largely on management's expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These statements are subject to uncertainties and risks including, without limitation, competitive factors, outsourcing trends in the pharmaceutical industry, product and service demand and acceptance, changes in technology, ability to raise capital, the availability of appropriate acquisition candidates and/or business partnerships, economic conditions, the impact of competition and pricing, capacity and supply constraints or difficulties, government regulation and other risks identified in the Company's filings with the Securities and Exchange Commission including its Annual Report on Form 10-KSB and Quarterly Reports on Form 10-QSB. All such forward-looking statements are expressly qualified by these cautionary statements. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect events, conditions or circumstances on which any such statement is based after the date hereof, except as required by law.
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