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100 Ames Pond Dr Suite 100
Tewksbury, MA 01876 USA
phone:978-654-7600
fax:978-654-4501
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| Symbol |
CAMH.OB |
| Exchange |
OTC BB |
| Founded |
1990 |
| Employees |
28 |
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| www.cambridgeheart.com
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| Research Sector |
Medical Devices & Tech |
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| Summary Description |
| Measures subtle heartbeat fluctuations to identify patients at risk for sudden cardiac arrest |
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| Management |
| Ali Haghighi-Mood, PhD, Chief Executive Officer; Vincenzo LiCausi, Vice President, Finance and Administration and Chief Financial Officer |
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| Recent Results |
| Total revenue for the quarter ended June 2006 was $1.76 million, a 49% increase over Q2 2005. Revenue from the sale of Microvolt T-Wave Alternans products increased 66% and accounted for 83% of total revenues. Stripping out a non-cash gain from the revaluation of warrants in Q2 2005, this quarter's net loss improved by 26% to $541,600. |
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| Keywords |
| Cardiovascular, Cardiology, cardiac, heart, heart disease, heart diagnostics, diagnostics, noninvasive, non-invasive, stress tests |
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| Description |
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Cambridge Heart is a specialty medical devices company that develops and markets
products for the non-invasive diagnosis of cardiac disease, with a specific focus in the
area of sudden cardiac arrest. The company's proprietary lead technology is capable of
measuring Microvolt T-Wave Alternans (MTWA) in the heart, which indicates variations
in the patient's heartbeat. These heartbeat fluctuations are indicative of individuals who
are at risk of sudden cardiac death, and the company's minimally invasive 30 minute
diagnostic is able to identify individuals who may be at risk of cardiac arrest. |
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| Products / Services |
The Heartwave II system is the next generation MTWA testing platform. The test is non-invasive and takes less than 30 minutes. ECG measurements are taken during rest, exercise and then rest again in order for the system to identify the presence of MTWA.
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| Technology / Differentiation |
| The Microvolt T-Wave Alternans Test measures subtle heartbeat fluctuations which can be used to identify patients at risk for sudden cardiac arrest. In patients with negative (normal) MTWA test results, the risk of sudden cardiac death is very low. The Negative Predictive Value of MTWA testing has been shown to be 98% accurate for follow-up periods of 12 -24 months in various clinical studies. Negative patients should be retested every 12 months as cardiac function can change over time. |
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| Market / Customers |
Sudden cardiac arrest accounts for approximately one third of all cardiac deaths, or over 400,000 deaths, in the United States each year. Cambridge sees a potentially large market opportunity, estimating that 12 million high-risk individuals could currently benefit from testing. The MTWA test can predict the need for an implantable cardioverter defibrillator (ICD) therapy more accurately than more invasive tests. The company sells its products primarily to cardiology group practices, hospitals and research institutions in the U.S. and internationally.
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| Competitors / Substitutes / Alternatives |
Boston Scientific Corp., Cardiodynamics International Corp., EP Medsystems
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| Strategy |
The test is now covered by the CMS, Aetna, Cigna and Humana and the company will continue to seek expand the list of participating insurance providers.
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| Status |
| Medicare, Cigna, Aetna and other major insurance companies cover MTWA diagnostic testing (using the spectral analytic method) for the evaluation of patients at risk of sudden cardiac arrest who are candidates for implantable cardioverter defibrillator (ICD) placement. |
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Biotech & Specialty Pharma
Healthcare Services
Medical Devices & Tech
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