CardioComm Solutions Inc. (CardioComm), a canada based medical devices company, has signed a distribution agreement with Instromedics, for the distribution of LifeWatch Technologies Corp.'s King of Hearts Atrial Fibrillation loop event recorders (KOH). The Distribution Agreement permits the CardioComm to be the distributor of the KOH in Canada. In addition, the company may sell the KOH outside of the Canadian market when sold with the company's Global EKG Management System.
Distribution Agreement is renewable for three years.
Etienne Grima, chief financial officer for the company, said “the ability to marry the sales of the clinically preferred GEMS(TM) software and KOH hardware will promote CardioComm’s expansion in the existing clinical service market for arrhythmia monitoring.” Anatoly Langer, interim chief executive officer and chairman of the board for the company, further stated that “this is the first of several measures CardioComm intends to take in 2009 to expand its clinical solutions to meet the current and unmet needs of physicians in managing patients with cardiac disease.”
Further, the company announced that it would not be pursuing its proposed warrant re-pricing, previously announced on December 12, 2008, at the current time.