SAN FRANCISCO, CA -- 11/09/09 --
Cardiac Network, Inc. (PINKSHEETS: CNWI)
announced today the appointment of John C. Jay, Ash Varma and Ken Millard
to its Board of Directors. Ash Varma was elected as the Chairman while
Michael Swartzburg will remain as the President enabling Michael to focus
more on the execution and operations.
Cardiac Network's Business Incubation Agreement made with Global Private
Funding Inc. allows Global to appoint members onto Cardiac Network's Board.
The first tasks of the enhanced Board of Directors will be to establish
improved corporate oversight and elevate the Company's corporate profile in
search of new business development opportunities.
John C. Jay is the Executive Managing Director of Global Private Funding,
Inc., a California corporation. John is a California-licensed attorney,
and received his law degree from Pepperdine University in Malibu and his
Bachelor's degree in Business Administration from the University of
Southern California in Los Angeles.
Ash Varma is Managing Director, Venture Management at Global Private
Funding, Inc. Ash specializes in Business Financing and Restructuring and
is also an Attorney at Law. He is a graduate of Oxford University as well
as The Columbia University School of Law and The NYU Graduate School of
Law. Ash was a tax attorney at Paul, Weiss, Rifkind and was President of
Capitol Outdoor, successor company to the original Ted Turner Media
Company.
Ken Millard is the President of Cipher Systems, Inc., an Oregon custom
electronics and integration design/build firm. Ken was the founder of Aries
Engineering, a
Portland-based company credited with inventing the fault detection
instrument that is now synonymously known by its brand name Crybaby(TM)
within the radiant heat industry. Ken is a Registered Professional
Engineer and designer who received his B.S. in Mechanical Engineering from
Portland State University. Ken's extensive experience in implantable
medical devices such as pacemakers at Micro Systems Engineering (a division
of pacemaker giant Biotronik) and microHelix Labs, as well as his
innovative product design skills adds to the forward planning and momentum
of Cardiac Network, Inc.
"The expansion of Cardiac Network's Board of Directors demonstrates the
Company's commitment to representing and protecting the shareholders' best
interests while ensuring a successful future for Cardiac Network. Global
determined John, Ash and Ken were the best candidates because of their
proven leadership skills, and broad management experience in established
companies," said Michael Swartzburg, President, Cardiac Network, Inc.
About Cardiac Network, Inc.
Cardiac Network, Inc. is a medical technology company providing cardiac
monitoring and diagnostic services to general practitioners and specialist
physicians, for the investigation of patients with abnormal cardiac rhythm
and function. The service uses unique transtelephonic (by telephone)
cardiac recorders that monitor and provide diagnostic information to
physicians and their patients. Cardiac Network also offers its services and
advanced mobile technology to individuals which help them quickly determine
if they are having a potential cardiac problem so that they can obtain
immediately needed medical treatment. Learn more about Cardiac Network Inc.
by visiting, www.cardiacnetwork.net and the HeartOne Club at
www.heartoneclub.com.
Forward-Looking Statements
Except for historical information contained herein, the statements in this
release are forward-looking and made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are inherently unreliable and actual results may differ
materially. Examples of forward-looking statements in this news release
include statements regarding Cardiac Network's anticipated economically
competitive products and services. Factors which could cause actual results
to differ materially from these forward-looking statements include such
factors as fluctuations in demand for Cardiac Network's products, Cardiac
Network's ability to maintain strategic business relationships, the impact
of competitive products and pricing, growth in targeted markets and the
adequacy of Cardiac Network's liquidity and financial strength to support
its growth. Cardiac Network undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Contact:
Cardiac Network, Inc.
Judy Crowhurst
Investor Relations
(310) 288-3529 Ext: 709
Email Contact
