CardioDynamics to Accelerate Return to Profitability
September 18, 2007 – CardioDynamics, an impedance cardiography (ICG) technology developer, announced plans to accelerate the its return to profitability capitalizing on the proceeds from the $8 million sale of Vermed, providing for strategic investments in revenue growth initiatives and expense reductions, including a 10 percent reduction in executive salaries.
Following its third consecutive quarterly year over year revenue growth for its ICG business, ending August 31, 2007, the Company announced details of a comprehensive revenue growth plan, the Phoenix Initiative. This initiative includes programs to enhance revenue growth and address market adoption challenges, with revenue growth potential estimated at over $10 million. In aggregate, the programs reportedly have the potential to increase the Company’s estimated 10 percent annual revenue growth to 15-20 percent. Phoenix Initiative highlights include the YES program, Legacy program, ICG Centers of Excellence Partnership program, Direct Response program, and Pharmaceutical Research Alliance program.
The Pharmaceutical Research Alliance program collaborates with core laboratories and clinical research organizations to incorporate ICG into Phase I - IV pharmaceutical clinical research trials for enhanced cardiac safety monitoring.
For more information: www.cdic.com