CardieX Limited Provides Interim Corporate Update

CardieX Limited Provides Interim Corporate Update

On 1 April 2019, CardieX Limited (ASX: CDX), a company from the healthcare sector engaged into the development and marketing of the SphygmoCor device has reported various corporate activities for its business and its operating subsidiaries for the calendar year as at 31 March 2019.

AtCor Medical, Inc:

At AtCor Medical, there was a significant and material expansion of the AtCor’s contract where AtCor will be supplying technology and services to Bayer’s multinational heart failure trial. The revenue from the trial increased by approximately 50% along with further expansion of that trial that will cover above 70 trial sites. There was a roll-out of an API-based OEM strategy where the target was to monitor patients ambulatory blood pressure monitoring (BPM), home BPM, and smart wearable partnerships.

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Blumio, Inc

The Deborah trial is in progress in New Jersey and is expanded to cover other care areas for patient enrolment. The improved radar sensor system was delivered to the CardieX team in Sydney. The team will be progressing as well as supporting the development activities as per the Joint Development Agreement (JDA) between CardieX Limited and Blumio. The announcement highlighted that initial trials of the Blumio sensor was completed comparing the outputs against a radial tonometer which is a significant milestone achieved by the company in its ongoing development activities. The tonometer is a gold standard that is used for measuring the arterial stiffness and blood pressure waveform. The material significance of the results is that the products which use tonometer as the source signal can also use Blumio sensors. Through this validation, Blumio would be able to step towards the development of embedded software and related reference hardware for the sensor module.

inHealth, Medical Inc

The revenues for Anthem telehealth are as per the March 2019 plan, and the company guide for an upward revision of the internal forecasts for the revenue of Anthem for FY2019. inHealth, Medical Inc is initiating and implementing sleep health collaboration with a global electronic and medical device company (GEMDC) and is in the final stages of negotiation and contract completion. inHealth, Medical Inc will also be launching the hypertension pilot trial in Florida using the SphygmoCor technology in association with some of the leading research institutes in the US. inHealth, Medical Inc will also be preparing for diabetes management pilot trial with Kaiser Permanente.

China Product and Technology Partnerships

The company has announced that new CardieX China operating company will soon be launched. The sales and technical staff recruitment are under progress. The recent product and partnership roadshow in China by the executive team of CDX was a success. The company had various SphygmoCor OEM partnerships under discussion with NDAs executed. The collaboration of the machine learning powered hypertension management is under discussion with major Chinese AI and machine-learning powerhouse.

The stock in the past three months has generated a return of 31.03%. By the end of the trading session on 1 April 2019, the closing price of the stock was A$0.040, up by 5.263% as compared to its previous closing price. The company has a market capitalization of A$ 26.43 million with approximately 695.44 million outstanding shares.


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