Compumed, Inc. Announces New Contract With Florida Department of Corrections for Remote ECG Services

California Department of Corrections and Rehabilitation and Arizona Department of Corrections Extend Contracts

Press Release
Source: CompuMed, Inc.
On Monday August 24, 2009, 8:00 am EDT
LOS ANGELES, Aug. 24, 2009 (GLOBE NEWSWIRE) -- CompuMed, Inc. (OTCBB:CMPD - News; www.compumed.net) -- a medical informatics company serving the healthcare community with diagnostic software solutions -- today announced it has been awarded a new contract with the Florida Department of Corrections (FLDOC). In addition, the Company has extended its agreements to provide electrocardiogram (ECG) remote interpretation systems and over-read services for the California Department of Corrections and Rehabilitation (CDCR) and the Arizona Department of Corrections (AZDOC).

The FLDOC awarded CompuMed a new multi-year contract to provide interpretative ECG services and cardiologist over-reads for detainees at selected correctional facilities statewide. CompuMed has 85 state-of-the-art CardioGram(tm) System 707 ECG machines installed at the FLDOC facilities.

Maurizio Vecchione, CompuMed's CEO said, "The Florida Department of Corrections is our single biggest account, and the new contract allows for a 10-year renewal."

Under the terms of the CDCR extension, CompuMed will continue to provide remote cardiac screening and over-reads for detainees at selected CDCR facilities statewide. The CDCR uses 56 of CompuMed's CardioGram systems. CompuMed will continue to provide ECG services for selected ADC facilities, with remote cardiac screening on an as-needed basis. The AZDOC owns 45 of CompuMed's CardioGram systems.

"We have close to a 100 percent renewal rate with our large correctional clients, which confirms the need for our ECG services, as well as client satisfaction with CompuMed," said Mr. Vecchione. "We plan to continue our expansion into other markets as we move into 2010 with a new focus on home healthcare."

He added, "President Obama has called for increased use of telemedicine and electronic medical records to provide medical access at remote or isolated sites. This puts CompuMed's telecardiology division in an excellent position for growth."

CompuMed's traditional core business is providing remote ECG interpretation terminals and related services to medical facilities that may not have access to physicians trained and qualified to interpret ECG results. Customers for the Company's CardioGram system are typically correctional facilities, ambulatory surgery centers, occupational health clinics and physician offices. The system reduces healthcare costs significantly by providing remote cardiac screening at the point-of-care. Another advantage is an optional feature that automatically sends ECG results to a trained cardiologist for an over-read.

For more information, contact Compumed at 310-258-5000 or www.compumed.net. CompuMed is on twitter @compumed.