SignaLife Seeks Solace in Signalcare

Leveraging the experience gained and relationships developed through the deployment of its Fidelity 100 Heart Monitor, SignaLife, a Greenville, SC firm specializing in biomedical signal monitoring, has established Singalcare, a division focused on developing, acquiring and testing therapies capable of treating cardiovascular disease.

The decision comes not long after the American Stock Exchange issued a deficiency letter triggered by the recent decline of SignaLife’s market cap to less than $50 million.

SignaLife traded as high as $2.20 this year, but hit a low of $.33 in January when AMEX threatened and revenues failed to materialize. SignaLife closed at $.80 on February 15th.

In August, the company completed a $102 million financing, a much anticipated boost following the company’s receipt of an earlier AMEX deficiency letter. SignaLife received $2 million in immediate funding through the sale of common stock to YA Global Investments, a Yorkville Advisors fund. It also entered into a Standby Equity Distribution Agreement that permits the sale of $100 million in additional stock over the next three years. The money will be used to advance the Fidelity 100 heart monitor.

SignaLife’s ambulatory 12-lead ECG distinguishes the Fidelity 100 from competing heart monitors. The technology compresses and reduces noise prior to amplifying the ECG signal, eliminating the need to filter the signal after amplification. The improved quality of the data allows physicians to record full ECG signals from a patient during exercise or everyday activities.

Fidelity 100 technology will be used to validate treatment technologies and potential partnerships through Signalcare. SignaLife will explore placing Signalcare into a wholly-owned subsidiary after developments and relationships have materialized or have become formalized.

Lowell Harmison, SignaLife’s President and CEO, commented, “We believe that it is time to assist in moving the treatment of cardiovascular disease to earlier, less invasive and more predictable methodologies.”

Cardiovascular disease accounts for approximately 40% of all hospital revenue and one out of every 2.7 deaths in the United States. Over 500,000 Americans survive heart attacks every year and need to be monitored.

SignaLife believes that the most important information about the heart should be gathered in an everyday setting—the ability to monitor an ambulatory heart patient greatly enhances the physician’s ability to properly diagnose cardiovascular disease.

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