Healthcare Industry News: Microvolt T-Wave Alternans
News Release - October 23, 2006
Cambridge Heart Adds New Director
Laurence Blumberg MD Joins Company's BoardBEDFORD, Mass.--(HSMN NewsFeed)--Cambridge Heart, Inc. (OTCBB:CAMH ) announced today that Laurence Blumberg, MD has joined the Company's Board of Directors increasing the number of directors to six.
Dr. Blumberg has extensive experience in the medical technology industry as an analyst, investor, and entrepreneur. Until recently, he was the Healthcare Portfolio Manager at Scout Capital Management, LLC a hedge fund. From 1999 to2006, he was the Founder and Managing Member of Blumberg Capital Management LLC, which focused on investments in the life sciences field. Prior to that, he spent five years as Vice President, Equity Research at Alliance Capital Management, L.P. specializing in biotechnology and medical products and before that was an independent healthcare consultant to S- Squared Technology, a technology investment fund. Dr. Blumberg is a founder and member of the Board of Directors of Syntonix Pharmaceuticals, Inc., a private development stage biotechnology company. Dr. Blumberg is a non-managing member of The AFB Fund LLC, which owns approximately 9% of the Company's outstanding common shares. He is a member of the Board of Overseers of the School of Science, Brandeis University where he received a B.A. in Physics. Dr. Blumberg received an M.D. from Temple University School of Medicine, and an M.B.A. from Columbia University School of Business.
Dr. Blumberg stated, "As a founder of Cambridge Heart in 1990 and a shareholder, I have closely monitored the publication of a substantial volume of the peer reviewed clinical data, the 2006 CMS reimbursement, as well as the recent AHA/ACC/ESC guidelines. I believe that the Microvolt T-Wave Alternans technology is now positioned to play an important role in the evaluation and management of patients at risk for sudden cardiac death, and I welcome the opportunity to assist the Company in achieving its goals."
"Laurence Blumberg adds a wealth of clinical, investment and business expertise to the Board and is intimately familiar with the Company's technology and business opportunity" said Mr. Robert Khederian, Cambridge Heart's Chairman of the Board. "We believe his unique insight and business judgment will be of great value as the Company transitions into its next phase of growth."
About Cambridge Heart
Cambridge Heart is engaged in the development and commercialization of products for the non-invasive diagnosis of cardiac disease, in particular addressing such key problems in cardiac diagnosis as the identification of those at risk of sudden cardiac arrest. The Company's products incorporate its proprietary technology, Microvolt T-Wave Alternans, coupled with its patented Spectral Analytical Method and are the only diagnostic tools cleared by the U.S. Food and Drug Administration to non-invasively measure microvolt levels of T-wave alternans. The MTWA test is reimbursed by Medicare and major insurers in the USA, and is included in guidelines for cardiac care in the USA and Europe. The Company, founded in 1990, is based in Bedford, Massachusetts and is traded on the OTCBB under the symbol CAMH. Cambridge Heart can be found on the World Wide Web at www.cambridgeheart.com
About the Cambridge Heart Microvolt T-Wave Alternans Test
The Cambridge Heart Microvolt T-Wave Alternans Test measures extremely subtle beat-to-beat fluctuations in a person's heartbeat called T-wave alternans. These tiny heartbeat variations - measured at one millionth of a volt - are detected in any clinical setting where titration of the heart rate is possible. The preparation for the test consists of placing proprietary sensors on a patient's chest. A substantial volume of peer reviewed data has shown that patients with symptoms of, or who are at risk of, life threatening arrhythmias that test positive for T-wave alternans are at significant risk for subsequent sudden cardiac events including sudden death, while those who test negative are at minimal risk.
Statements that are not purely historical are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. In some cases, we use words such as "believes", "expects", "anticipates", "plans", "estimates", "could" and similar expressions that convey uncertainty of future events or outcomes to identify these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements. Factors that may cause or contribute to such differences include customer delays in making final buying decisions, decreased demand for our products, failure to obtain funding necessary to develop or enhance our technology, adverse results in future clinical studies of our technology, failure to obtain or maintain patent protection for our technology, failure to obtain or maintain adequate levels of third-party reimbursement for use of our products and other factors identified in our most recent Annual Report on Form 10-K under "Factors Which May Affect Future Results", which is on file with the SEC and available at www.EDGAR.com. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so except as may be legally necessary, even if our estimates should change.
Source: Cambridge Heart
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