Investor Information

Industry:

Health Care – Medical Devices - Cardiology (manufacturing, development, distribution)

Company Description:

CardioMag Imaging (CMI) was formed in 1999 to transition the results from over 30 years of R&D in Magnetocardiography towards early commercialization. CardioMag's goal is to become the leader in non-invasive diagnostics of heart disease.

Company Products:

CardioMag has developed a series of cardiac diagnostic systems, which are easy to operate and yield accurate diagnostic information more quickly than competing modalities. The market-ready Model 2409 is expected to gain widespread acceptance as the tool of choice in emergency departments for the rapid diagnosis of acute coronary syndromes. Other MCG systems under development will meet the many and diverse needs of cardiologists and electro-physiologists. The market estimate for MCG products worldwide is $4 billion.

Clinical Studies:

For the past year, clinical studies, utilizing CMI’s systems, have been under way at various hospitals in the United States and overseas. More recently, studies are now underway in accordance with an FDA approved protocol at Johns Hopkins Hospital, Mayo Clinic, and Cedars Sinai Hospital

Investment Status:

CardioMag has, to-date, been privately funded by qualified investors, including the New York State Urban Development Corporation d/b/a Empire State Development. Recent investments and fair market valuation of the Company have established a discounted business valuation level of at least $54 million.