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BETHESDA, MD - (June
2, 2004) . . . . Cardiac Science, Inc. (Nasdaq: DFIB), a leading
manufacturer of life-saving automated public access defibrillators
(AEDs), and Chindex International, Inc. (Nasdaq:CHDX), the leading
independent American provider of western healthcare products and services
in the People's Republic of China, jointly announced today a multi-year
distribution agreement whereby Chindex will market Cardiac Science’s
line of Powerheart® -brand AEDs on an exclusive basis to hospitals
and other medical supply dealers throughout mainland China.
Powerheart® AEDs will
be sold exclusively via Chindex' hospital sales business unit, which
operates a network of more than 500 local area dealers located in
both urban and rural centers throughout the country. The agreement
also allows Chindex to distribute Cardiac Science AEDs on a non-exclusive
basis into other emerging market segments such a physician offices,
police, fire, EMS, military, corporations and public transportation.
Chindex President and CEO
Roberta Lipson said that the AED market in China is quickly taking
shape. Ms. Lipson expects the market to soon progress beyond hospitals
and physician offices to first responder organizations and public
places as it has in other industrialized nations.
"We believe this is
an ideal partnership - a winning combination of distribution capabilities
and quality products," said Lipson. "Chindex has been a
well established player in the Chinese medical market for more than
two decades. Our sales organization reaches deeply into the Chinese
hospital system throughout the country -very few institutions have
deployed AEDs. Given our distribution capabilities combined with Cardiac
Science's quality products we believe we can gain a significant share
of this emerging AED market. The success of Cardiac Science's AED
product line in both in the U.S., Japan and other international markets
is testament of the product’s ease of use, reliability and language
capabilities as well as the Company's understanding of how to support
their key distribution partners."
Cardiac Science Chairman
and CEO Raymond W. Cohen said, "The healthcare market in China
mirrors other Chinese industries in its rapid development and tremendous
size. As we have demonstrated by gaining the number one market share
position in Japan, the most important factor in an emerging international
market is selecting the right strategic distribution partner. Chindex
is amazingly well positioned to take advantage of growing demand for
AEDs in the Chinese market. Clearly, we have made the right choice
and we look forward to jointly developing this promising opportunity."
About Chindex International,
Inc.
Chindex is a leading American company in healthcare in the Greater
Chinese marketplace including Hong Kong. It provides representative
and distribution services to a number of major multinational companies
including Siemens AG (diagnostic color ultrasound scanners under the
Acuson and Siemens brand names), Becton-Dickinson (including vascular
access, infusion and critical care systems), Johnson & Johnson
(clinical chemistry analyzers), and Guidant (interventional cardiology
products including stents, balloon catheters and guide wires). Its
distribution channels to the retail pharmacy industry in China have
been developed through a relationship with a major multinational cosmetics
manufacturer. It also provides healthcare services through the operations
of its private hospital corporation in China. With twenty-two years
of experience, over 700 employees, and operations in the United States,
China and Hong Kong, Chindex's strategy is to expand its cross-cultural
reach by providing leading edge technologies, quality products and
services to Greater China's professional communities. Further information
may be found at Chindex's websites, www.chindex.com and www.unitedfamilyhospitals.com.
The
statements in this press release that relate to Chindex’'s future
plans, events or performance are forward-looking statements that involve
risks and uncertainties, including risks associated with uncertainties
pertaining to Chindex’''s(i) performance goals, including successful
conclusion of efforts to secure government-backed financing, (ii)
future events and earnings, including revenues from the Chindex’s
developmental businesses such as healthcare services, (iii) markets,
including growth in demand in China for the Chindex's products and
services, and (iv) proposed new operations, including expansion of
its healthcare services business. Actual results, events and performance
may differ materially. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date
hereof. Chindex undertakes no obligation to release publicly the result
of any revisions to these forward-looking statements that may be made
to reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.
About Cardiac Science
Cardiac Science develops, manufactures and markets the Powerheart
®-brand, automated public access defibrillators (AEDs) in over
50 countries worldwide. The Company also manufactures its AED products
on a private-label basis for other leading medical companies. Cardiac
Science is unique among AED manufactures in that it also offers comprehensive
AED/CPR training and AED program management services for corporate
and government clients that facilitate successful deployments. The
Company’s also developed and markets Powerheart® CRM®, the
only FDA-cleared therapeutic patient monitor that instantly and automatically
treats hospitalized cardiac patients who suffer life-threatening heart
rhythms. For more information please visit www.cardiacscience.com
or call 1.949.797.3800.
This
news release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995.
Cardiac Science cautions that these statements are subject to substantial
risks and uncertainties and are qualified by important factors that
could cause actual results to differ materially from those reflected
by the forward-looking statements and should not be relied upon by
investors when making an investment decision. Information on these
and other factors is detailed in Cardiac Science's Form 10-K for the
year ended Dec. 31, 2003 and subsequent quarterly filings, and other
documents filed by the Company with the Securities and Exchange Commission.
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