Healthcare Industry News: Bard
News Release - May 24, 2007
Cambridge Heart Promotes Vincenzo LiCausi to Vice President of Finance and Administration and Chief Financial OfficerBEDFORD, Mass.--(HSMN NewsFeed)--Cambridge Heart, Inc. (OTCBB: CAMH ) announced today the promotion of Vincenzo LiCausi to the position of Vice President of Finance and Administration and Chief Financial Officer, effective July 1, 2007. Mr. LiCausi replaces Roderick de Greef, who earlier this year notified the Company of his intention to resign. Mr. LiCausi will report to Robert Khederian, Chairman and Interim Chief Executive Officer. The promotion of Mr. LiCausi, who previously served as Cambridge Heart's Corporate Controller, follows a four-month executive search overseen by the Company's Board of Directors.
"Since joining Cambridge Heart, Vincenzo has proven to be a valuable member of the finance department, providing good counsel to senior management. I am very pleased the Board concluded that Cambridge Heart already employed the best candidate for the CFO position," stated Robert P. Khederian, Chairman and Interim CEO of Cambridge Heart, Inc. "I have every confidence in Vincenzo and look forward to working closely with him as our new CFO."
Prior to joining Cambridge Heart in October 2006, Mr. LiCausi worked for two years in the Finance Department at Bard Electrophysiology, a division of C.R. Bard, most recently as General Accounting Manager. From 2001 to 2004, Mr. LiCausi served as Senior Financial Analyst of Planning & Analysis at Tropicana Products, a division of PepsiCo. From 1997 to 2001, Mr. LiCausi was a Senior Auditor for Deloitte & Touche, Boston.
Mr. LiCausi is a Certified Public Accountant and holds a Bachelor of Arts degree in Accountancy from Bentley College in Waltham, Massachusetts.
About Cambridge Heart, Inc.
Cambridge Heart (www.cambridgeheart.com) is engaged in the development and commercialization of products for the non-invasive diagnosis of cardiac disease, particularly the identification of those at risk of sudden cardiac arrest. The Company's products incorporate its proprietary Microvolt T-Wave Alternans measurement technologies, coupled with its patented Spectral Analytic Method and ultra-sensitive disposable electrode sensors. Only Spectral Analytic Method MTWA tests are reimbursed by Medicare under its National Coverage Policy that covers patients with a wide variety of cardiac symptoms. Other major insurers in the USA also have coverage policies for the test. The T-Wave Alternans test is included in the Guideline for Management of Patients with Ventricular Arrhythmias and the Prevention of Sudden Cardiac Death jointly developed by the American College of Cardiology (ACC), The American Heart Association (AHA) and the European Society of Cardiology (ESC). The Company, founded in 1990, is based in Bedford, Massachusetts and is traded on the OTCBB under the symbol CAMH.
About the Cambridge Heart Microvolt T-Wave Alternans Test
The Cambridge Heart Microvolt T-Wave Alternans Test measures a specific extremely subtle pattern of beat-to-beat fluctuations in a person's electrocardiogram. This pattern of fluctuations is called T-wave alternans. These tiny variations in the electrocardiogram - measured at one millionth of a volt accuracy - are most commonly measured during a sub-maximal exercise stress test in the doctor's office or hospital outpatient setting. The preparation for the test consists of placing proprietary sensors on the patient's chest. Extensive clinical research has shown that those patients who are at risk of ventricular tachyarrhythmia that test positive for microvolt T-wave alternans are at increased risk for sudden cardiac death, while those who test negative are at reduced risk.
Statements contained in this press release 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 failure to achieve broad market acceptance of our MTWA technology, failure of our sales and marketing partner to market our products effectively, inability to hire and retain qualified clinical applications specialists in our target markets, failure to obtain or maintain adequate levels of third-party reimbursement for use of our MTWA test, 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 and other factors identified in our most recent Annual Report on Form 10-K under "Risk Factors", 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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