Healthcare Industry News:  i-STAT 

Devices Cardiology

 News Release - June 5, 2006

Dr. Bernard Salick Forms Salick Cardiovascular Centers to Offer New Outpatient-Focused Delivery System for Cardiovascular Services

Company Backed with $75 Million in Series A Funding From Warburg Pincus

LOS ANGELES, June 5 (HSMN NewsFeed) -- Well-known healthcare entrepreneur Dr. Bernard Salick has announced the formation of Salick Cardiovascular Centers Inc., a health services company with a new model for the delivery of comprehensive cardiovascular services. Backed by $75 million in Series A funding from Warburg Pincus, the company will provide patients immediate and ongoing access to innovative, high-quality, cost-effective and comprehensive cardiovascular diagnostic and treatment services in a patient-friendly, primarily outpatient-based environment.

"One in four Americans today has some form of cardiovascular disease, and the numbers are increasing. Among the significant factors influencing this are skyrocketing rates of Type II diabetes and obesity as well as an aging population. We also know that women often present differently than men and therefore require new insights and technologies to enable earlier detection, diagnosis and treatment," said Dr. Salick. "Salick Cardiovascular Centers will change the delivery of cardiovascular care to enable physicians and other health care providers to focus on rapid diagnosis, earlier treatment and lifestyle modification services to achieve the best outcomes for all patients."

In affiliation with leading academic medical centers, Salick Cardiovascular Centers will bring together academic and clinical cardiovascular specialists and state-of-the-art technology. Dr. Salick is currently assembling and will shortly announce an experienced team of health care executives and clinicians, and will focus on facilities in New York (Tri-STATe area) and Southern California.

In addition to its core services, Salick Cardiovascular Centers will have a unique, disease-specific database that will enable the development of peer-reviewed best clinical protocols and practice guidelines, outcomes measurements, utilization review and cost/benefit analyses -- information valuable not only to clinicians but also to employers, payors and pharmaceutical, biotechnology, medical device and information technology companies. Through its nationwide standardized clinical trials and research network, the company will offer patients access to investigational diagnostic and treatment options.

The Salick Cardiovascular Center approach is based on numerous successful ventures led by Dr. Salick that have focused on providing sophisticated, long-term care for chronic, catastrophic illnesses. In the early 1980s, Dr. Salick was inspired to create a new delivery system for cancer diagnosis and treatment when a family member underwent treatment in a fragmented, predominantly hospital-based, inpatient cancer care system. Dr. Salick realized the benefits a 24/7, comprehensive, outpatient, diagnostic and treatment center for cancer would provide. He founded Salick Health Care to offer cancer patients a new level of compassionate, convenient, cost-effective, multidisciplinary, integrated and advanced services for cancer diagnosis and treatment.

Similarly, Dr. Salick was inspired to create Salick Cardiovascular Centers after having a personal experience with cardiovascular disease. Despite being asymptomatic, a routine check-up and nuclear stress test revealed evidence of coronary artery disease and the need for cardiac intervention. Being exposed to the frustrating inpatient environment of conventional cardiovascular care, Dr. Salick became determined to change the cardiovascular delivery system as he has in cancer and other chronic catastrophic diseases.

In addition to Salick Health Care, which was sold to a Zeneca PLC affiliate (now Astra-Zeneca) for $480 million, Dr. Salick has developed similar chronic and acute, inpatient and outpatient centers focused on kidney disease and HIV/AIDS.

About Salick Cardiovascular Centers Inc.

Dr. Bernard Salick founded Salick Cardiovascular Centers on the belief that successful diagnosis and treatment of chronic catastrophic illness requires a simplified, consumer-oriented approach. The company provides a new delivery system for the diagnosis and treatment of cardiovascular disease, giving patients immediate and ongoing access to comprehensive, innovative, high quality and cost-effective cardiovascular services in a patient-friendly, primarily outpatient environment. With improved access and a coordinated care system, Salick Cardiovascular Centers is dedicated to addressing the growing epidemic of diagnosed and undiagnosed cardiovascular disease in the U.S.

Source: Salick Cardiovascular Centers

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