Cardiac Network Appoints New Chairman and Fills Three New Board Seats to Support Planned Growth
November 09 2009 - 8:15AM
Marketwired
Cardiac Network, Inc. (PINKSHEETS: CNWI) announced today the
appointment of John C. Jay, Ash Varma and Ken Millard to its Board
of Directors. Ash Varma was elected as the Chairman while Michael
Swartzburg will remain as the President enabling Michael to focus
more on the execution and operations.
Cardiac Network's Business Incubation Agreement made with Global
Private Funding Inc. allows Global to appoint members onto Cardiac
Network's Board. The first tasks of the enhanced Board of Directors
will be to establish improved corporate oversight and elevate the
Company's corporate profile in search of new business development
opportunities.
John C. Jay is the Executive Managing Director of Global Private
Funding, Inc., a California corporation. John is a
California-licensed attorney, and received his law degree from
Pepperdine University in Malibu and his Bachelor's degree in
Business Administration from the University of Southern California
in Los Angeles.
Ash Varma is Managing Director, Venture Management at Global
Private Funding, Inc. Ash specializes in Business Financing and
Restructuring and is also an Attorney at Law. He is a graduate of
Oxford University as well as The Columbia University School of Law
and The NYU Graduate School of Law. Ash was a tax attorney at Paul,
Weiss, Rifkind and was President of Capitol Outdoor, successor
company to the original Ted Turner Media Company.
Ken Millard is the President of Cipher Systems, Inc., an Oregon
custom electronics and integration design/build firm. Ken was the
founder of Aries Engineering, a Portland-based company credited
with inventing the fault detection instrument that is now
synonymously known by its brand name Crybaby(TM) within the radiant
heat industry. Ken is a Registered Professional Engineer and
designer who received his B.S. in Mechanical Engineering from
Portland State University. Ken's extensive experience in
implantable medical devices such as pacemakers at Micro Systems
Engineering (a division of pacemaker giant Biotronik) and
microHelix Labs, as well as his innovative product design skills
adds to the forward planning and momentum of Cardiac Network,
Inc.
"The expansion of Cardiac Network's Board of Directors
demonstrates the Company's commitment to representing and
protecting the shareholders' best interests while ensuring a
successful future for Cardiac Network. Global determined John, Ash
and Ken were the best candidates because of their proven leadership
skills, and broad management experience in established companies,"
said Michael Swartzburg, President, Cardiac Network, Inc.
About Cardiac Network, Inc.
Cardiac Network, Inc. is a medical technology company providing
cardiac monitoring and diagnostic services to general practitioners
and specialist physicians, for the investigation of patients with
abnormal cardiac rhythm and function. The service uses unique
transtelephonic (by telephone) cardiac recorders that monitor and
provide diagnostic information to physicians and their patients.
Cardiac Network also offers its services and advanced mobile
technology to individuals which help them quickly determine if they
are having a potential cardiac problem so that they can obtain
immediately needed medical treatment. Learn more about Cardiac
Network Inc. by visiting, www.cardiacnetwork.net and the HeartOne
Club at www.heartoneclub.com.
Forward-Looking Statements
Except for historical information contained herein, the
statements in this release are forward-looking and made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are inherently
unreliable and actual results may differ materially. Examples of
forward-looking statements in this news release include statements
regarding Cardiac Network's anticipated economically competitive
products and services. Factors which could cause actual results to
differ materially from these forward-looking statements include
such factors as fluctuations in demand for Cardiac Network's
products, Cardiac Network's ability to maintain strategic business
relationships, the impact of competitive products and pricing,
growth in targeted markets and the adequacy of Cardiac Network's
liquidity and financial strength to support its growth. Cardiac
Network undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contact: Cardiac Network, Inc. Judy Crowhurst Investor Relations
(310) 288-3529 Ext: 709 Email Contact
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