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Zargis Awarded U.S. Army Contract

July 21, 2010

STAMFORD, Conn., July 21 /PRNewswire-FirstCall/ — Zargis Medical Corp., a majority-owned subsidiary of Speedus Corp. (Nasdaq: SPDE), today announced that it received a contract from the U.S. Army to develop an investigational device based on the success of the Signal-X6(TM) telemedicine systems recently deployed to the Army under a separate contract. Under the terms of the new contract, Zargis will develop prototype versions of the Signal-X6 system that will incorporate automated heart sound detection and murmur classification functionality similar to that offered by the award-winning Zargis Cardioscan software. This $120,000 contract will commence on August 1(st), 2010.

Due to the fact that each Signal-X6 device incorporates six acoustic sensors that simultaneously record sounds from a patient’s torso, this new project will allow Zargis to enhance its proprietary heart sounds analysis technology by leveraging multi-channel heart sound input instead of relying on input from the single sensor contained in a stethoscope.

“We are excited about this latest chapter in our ongoing relationship with the U.S. Army,” stated Zargis CEO John Kallassy. “As our Signal-X6 systems continue to be evaluated throughout the Army’s Military Treatment Facilities, we anticipate that the integration of our heart sounds analysis algorithms will lead the Army, and others, to deploy our devices on a wider scale.”

Zargis expects that clinical data obtained regarding this project will culminate in the development of an Army-sponsored research paper.

The development of the investigational device described in the contract is being funded by the Telemedicine and Advanced Technology Research Center (TATRC) through the AAMTI program. The AAMTI program provides funding to AMEDD personnel to demonstrate technology and document the impact on cost, access and quality of care. TATRC (www.tatrc.org) is an element of the United States Army Medical Research and Materiel Command (USAMRMC).

About Zargis Medical Corp.

Zargis is a global medical device company focused on improving health outcomes and cost-effectiveness through diagnostic support software and innovation. Zargis is majority-owned by Speedus Corp. (Nasdaq: SPDE), and both 3M Company and Siemens Corporate Research, a division of Siemens AG (NYSE: SI), hold equity positions.

For additional information about Zargis or Speedus Corp., contact Peter Hodge at 888.773.3669 (ext. 23) or phodge@zargis.com, or visit the following Web sites: www.zargis.com and www.speedus.com.

Statements contained herein that are not historical facts, including but not limited to statements about the Company’s product, corporate identity and focus, may be forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, the continuing development of the Company’s sales, marketing and support efforts.

SOURCE Speedus Corp.


Source: newswire



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