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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.
*Powerheart
is a registered trademark of Cardiac Science, Inc.
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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