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Cardiocomm to add app to Creo platform

2018-12-14 09:37 ET - News Release

Mr. Etienne Grima reports

CREO WELLNESS SELECTS CARDIOCOMM SOLUTIONS' ECG MONITORING SERVICE FOR INTEGRATION WITH USA PATIENT ENGAGEMENT PLATFORM

Cardiocomm Solutions Inc. and Virginia-based connected health provider Creo Wellness LLC have committed to integrate Cardiocomm's electrocardiography (ECG) monitoring service technologies and ECG devices to support the Creo physician network's management of patients and enhance the services offered through the Creo patient engagement platform.

Creo developed and supports its home-based, physician-directed patient care software platform to improve the health outcomes of its patients. Creo selected Cardiocomm as a preferred ECG services solutions provider to enhance its patient care software platform, specifically Cardiocomm's over-the-counter (OTC) HeartCheck handheld ECG devices and its traditional ECG monitoring services, such as Holter, resting 12-lead and 14-day event monitoring.

Creo's platform is currently used by many employers, hospitals and physician groups who collectively manage up to 300,000 patients each month. Creo estimates that the number of managed patients per month using its platform will triple to 900,000 by 2020.

Cardiocomm will integrate its Gems mobile smart phone app into Creo's existing mobile application and workflow to support the option to record an ECG at any time. All ECGs will be managed through Cardiocomm's cloud-based Gems Flex software. All ECGs will be interpreted by the company's Smart Monitoring ECG reading service. Creo will be notified of any reviewed ECGs with abnormalities. The ECGs will also be flagged for remote review by the patient's physician based on the severity of the abnormality found.

The partnership between Creo and Cardiocomm will bring new product offerings to the United States market in early 2019. For Cardiocomm, this will generate multiple new revenue streams resulting from the licensing of Cardiocomm's Gems cloud and smart phone app ECG management tools, the purchase of Gems-compatible OTC and Rx ECG devices, and a fee for use based on Cardiocomm's Smart Monitoring ECG reading service. Creo will place the devices into its patient care software platform, which will be prescribed through Creo member physicians. Use of these devices will generate revenue through the provision of ECG readings under established U.S. current procedural terminology (CPT) codes. Creo will manage all CPT code billings for the ECG services performed. CPT codes are maintained by the American Medical Association to provide information about medical services and procedures among physicians, coders, patients, accreditation organizations and payers.

Both companies expect that at least 30 per cent of Creo patients will require ECG monitoring ranging from routine baseline recordings to regular daily monitoring for prolonged periods of time. The first phase of technology integration is expected to be completed in Q1 2019, followed by the full launch of the ECG services across the Creo platform.

About Cardiocomm Solutions Inc.

Cardiocomm's patented and proprietary technology is used in products for recording, viewing, analyzing and storing electrocardiograms for diagnosis and management of cardiac patients. Products are sold worldwide through a combination of an external distribution network and a North American-based sales team.

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