Recently, Cardiac Science Corporation (CSCX) initiated CareCentre MD, a diagnostic workstation that further expands its ECG and cardiac stress product portfolio. It is the first multimodular PC-based workstation that supports both ECG and stress testing with a wireless data acquisition module.
Cardiac Science has managed to grab a large portion of the shares in the US primary care markets with the ECG and cardiac stress testing products. The CareCentre MD workstation with its modern user interface and features advanced connectivity further enhances the ECG and stress tests by facilitating regular patient database sharing.
In the first quarter 2010, Cardiac Science’s total revenue declined 17% year over year to $33.1 million, which includes cardiac monitoring revenues of $12.9, representing an increase of 5% year over year. For fiscal 2010, Cardiac Science expects revenues to be within the range of $150 to $170 million. This revenue range includes the expected growth in cardiac monitoring unit in the second half of 2010, driven by several new product releases.
Cardiac Science expects the installed base of cardiac monitoring devices and systems to expand to 65,000 units worldwide by the end of fiscal 2010. The company aims to enhance the physicians’ efficiency level and helps to provide effective medical care by performing diagnostic and monitoring procedures in advance, before referring patients to specialists.
Moreover, Cardiac Science research and development expenses were $15.0 million in fiscal 2009, $16.4 million in fiscal 2008 and $13.0 million in fiscal 2007, which represents approximately 8.1% of the total revenue over the three-year period. We believe that the company’s innovative technologies and its strong research and development capabilities will enable it to establish a strong foothold in the medical equipment and healthcare industries.
Cardiac Science Corporation develops, manufactures and markets diagnostic as well as therapeutic cardiology devices and systems. These include automated external defibrillators (“AEDs”), electrocardiograph devices (“ECG”), cardiac stress testing treadmills and information systems. It is the innovator of a wide range of advanced cardiac diagnosis, resuscitation, rehabilitation and informatics products.
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