BEDFORD, Mass.--(BUSINESS WIRE)--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-Kunder
“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.
