Healthcare Industry News:  CardioDynamics 

Devices Cardiology Monitoring Licensing

 News Release - July 18, 2006

CardioDynamics Announces Agreement With China's Leading Patient Monitoring Manufacturer

SAN DIEGO, July 18 (HSMN NewsFeed) -- CardioDynamics (Nasdaq: CDIC ), the innovator and leader of Impedance Cardiography (ICG) technology, today announced an Original Equipment Manufacturer (OEM) agreement with Shenzhen Mindray Bio-medical Electronics Co, Ltd. (Mindray), the largest manufacturer of patient monitoring products in China. Under the terms of the agreement, Mindray will integrate CardioDynamics BioZ® ICG technology into its patient monitoring products, and CardioDynamics will receive a licensing fee for each BioZ® ICG OEM kit purchased by Mindray.

Michael K. Perry, Chief Executive Officer of CardioDynamics, stated, "China has been our most successful international market. This OEM agreement with China's largest patient monitoring company is important to our international growth initiatives. Through our OEM strategy, we are increasing global access to our BioZ® ICG technology and increasing the recurring revenue content of our business."

China, whose population exceeds 1.3 billion people, has significantly increased its healthcare expenditures over the past decade. Furthermore, China is predicted to invest over $4 trillion in healthcare from 2005 through 2008, approximately 13% to 15% of China's projected GDP. China has been listed by the World Health Organization (WHO) among countries with a rapidly increasing incidence of cardiovascular disease. Deaths from cardiovascular disease constituted 40% of the total deaths in China in recent years, higher than in both Japan and the United States.

The Company's market development strategy for BioZ® ICG is designed to optimize success in both the physician office and hospital markets. To date, the United States strategy has been principally focused in the physician office market, which at this stage in market acceptance is optimally served by a direct sales force. Internationally, the Company's primary market has been in the hospital, where OEM integration agreements and hospital specialty distributors are integral to success.

Perry added, "Our agreement with Mindray is a continuation of our partnership strategy with industry leaders, including GE Healthcare and Philips Medical Systems and is key to driving continued market adoption of our proprietary BioZ® ICG technology. We will remain selective in identifying collaboration opportunities that make near-term and long-term contributions to growing earnings and shareholder value."

Shenzhen Mindray Bio-Medical Electronics co., Ltd., located in Shenzhen, China is engaged in the development, manufacturing, marketing and selling of electro-medical equipment in the patient monitoring, laboratory instrument and medical ultrasound fields. With annual sales growing at 40% in recent years, Mindray has positioned itself as one of the largest medical equipment providers in China since its establishment in 1991. Additional information can be found on the company's website at

About CardioDynamics:

CardioDynamics (Nasdaq: CDIC ), the ICG Company, is the innovator and leader of breakthrough medical technology called Impedance Cardiography (ICG). The Company develops, manufactures and markets noninvasive diagnostic and monitoring technologies and electrodes. The Company's ICG Systems are being used by physicians around the world to help battle the number one killer of men and women -- cardiovascular disease. Partners include GE Healthcare and Philips Medical Systems. For additional information, please refer to the company's Web site at

Forward-Looking (Safe Harbor) Statement:

Except for the historical and factual information contained herein, this press release contains forward-looking statements, such as potential growth rates, success of strategic partner relationships including potential increased hospital market penetration, increasing global access to our BioZ® ICG technology and increasing the recurring revenue content of our business, the accuracy of which is necessarily subject to uncertainties and risks including the Company's primary dependence on the BioZ product line, and various uncertainties characteristic of early growth companies, as well as other risks detailed in the Company's filings with the SEC, including its 2005 Form 10-K. The Company does not undertake to update the disclosures contained in this press release.

Source: CardioDynamics

Issuer of this News Release is solely responsible for its content.
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