Heartscape Closes $3M Series A Financing

Dateline: 21 February 2006

Heartscape Closes $3M Series A Financing

HeartscapeTechnologies, Inc., a cardiology device company focused on the early and accurate diagnosis of heart attacks and ischemia, announced that it has raised $3 million in Series A financing. Radius Ventures led the round and was joined by Delta Partners and company management. In connection with the financing, heartscape acquired the assets pertaining to PRIME ECG® technology from Meridian Medical Technologies, Inc.

"Securing this round of financing from top medical device investors is a testament to our technology, business model, and outstanding team," said Carl Rebert, who is President and a founder of heartscape. "These funds have been earmarked primarily for sales and marketing and the commencement of a series of clinical trials aimed at further establishing the clinical utility of the PRIME ECG system."

"heartscape's patented technology is a platform to address some of the most pressing needs in the management of chest pain patients, an area of critical importance to physicians, hospitals and patients," said Jordan Davis, Managing Partner of Radius Ventures and Chairman of heartscape. "In the management of heart attack victims, time is muscle and rapid diagnosis can be the difference between life and death and clearly impacts a patient's long-term prognosis."

"The PRIME ECG system has the potential to become the standard of care in the evaluation of chest pain patients in the emergency room setting," said Joey Mason of Delta Partners. "We have closely followed the development of this important technology from its beginnings at the University of Ulster in Northern Ireland and are excited by the growing body of clinical evidence demonstrating the potential of PRIME ECG technology in the early diagnosis of acute myocardial infarction."

About heartscape Technologies

heartscape is engaged in the development and marketing of the PRIME Electrocartography(TM) System, an FDA cleared medical device that accurately and rapidly diagnoses heart attacks and ischemia in the emergency room setting - enabling earlier intervention, a central factor in reducing patient death and morbidity.

About Radius Ventures

Radius Ventures is a venture capital firm focused primarily on early-stage opportunities in the health and life sciences industry. Radius currently manages two funds with total committed capital of approximately $100 million.

About Delta Partners

Delta Partners is a venture capital firm established in Ireland in 1994 focusing on early stage seed and start up businesses. With over $150 million under management, the team has made over 50 investments in the following sectors: Communications, Internet, Software and Life Sciences.