StockPreacher.com Issues Positive Trading Outlook for CardioNet Inc.
Press Release
Source: StockPreacher
On Wednesday September 16, 2009, 6:50 am EDT
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Companies:CardioNet, Inc.Cardiac Science CorporationDigirad Corporation

DALLAS, Sept. 16, 2009 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring wireless heart monitoring device maker CardioNet Inc. (Nasdaq:BEAT - News). The report includes financial and investment analysis, analyst consensus, and pertinent industry information you need to know to make an educated investment decision.


Related Quotes
Symbol Price Change
BEAT 7.60 0.00


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The investment report on CardioNet Inc. (Nasdaq:BEAT - News) should be of particular interest to other cardiovascular medical device makers: Cardiac Science Corp. (Nasdaq:CSCX - News), St. Jude Medical Inc. (NYSE:STJ - News), Digirad Corp.(NasdaqRAD - News) and Medtronic Inc. (NYSE:MDT - News).



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CardioNet Inc. (BEAT) is a provider of real-time outpatient cardiac monitoring services for ambulatory (mobile) patients. It provides the next-generation ambulatory cardiac monitoring service with beat-to-beat, real-time analysis, automatic arrhythmia detection and wireless ECG transmission. The Company's initial efforts are focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders, with a solution that it markets as Mobile Cardiac Outpatient Telemetry(tm) (MCOT). MCOT, as an integrated technology and service, offers physicians a powerful diagnostic and patient management tool to address the challenges of diagnosing and treating arrhythmias, which some forms are life-threatening medical emergencies that can result in cardiac arrest and sudden death.



In the report, the analyst notes:



"On September 10, the Company announced the availability of new, innovative clinical and reporting enhancements to the Company's existing Mobile Cardiac Outpatient Telemetry (MCOT) service, which sustain MCOT's diagnostic and reporting superiority in monitoring cardiac events, according to BEAT chairman and CEO Randy Thurman.



"On September 1, shares of BEAT plummeted on Highmark Medicare Service's (HMS) confirmation that it will reduce its reimbursement rate for mobile heart technology by 33%, to $754 per service from $1,123 per service. BEAT said the change would have a significant effect on its business, but it did not estimate the size of that change. CEO Thurman commented that the Company and other industry providers brought compelling data to HMS to justify a higher level of reimbursement, and said that they will be persistent in pursuing every appropriate means to remedy the situation."



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