Cambridge Heart's marketing promotion with OEM partner Cardiac Science for the Microvolt T-Wave Alternans is proving fruitful. Since the implementation of the promotion in July through Sept. 30, 45 OEM modules were shipped to purchasers of Cardiac Science's Q-Stress system, compared with 13 units in the preceding 9 months.
"We are pleased with the results of our new marketing initiative, and expect the rate of placements to continue to accelerate as we work closely with the Cardiac Science's sales team," said Ali Haghighi-Mood, Cambridge's president and CEO, in a statement. "Building an installed base of OEM Modules is the first step to generating recurring revenue growth in future quarters through the sale of our proprietary sensors."
The OEM modules are expected to begin generating revenue through the sale of proprietary Micro-V sensors following in-servicing by Cambridge's team of clinical specialists during this quarter. Cambridge expects to begin working with Cardiac Science shortly to develop a similar marketing program targeted at the existing installed base of Q-Stress users.
Cambridge's good news comes soon after the company announced that study data published in the journal Clinical Research in Cardiology show the value of the MTWA test in identifying patients at risk of sudden cardiac death.
Back in April, Cambridge cautioned it didn't have enough cash to continue business past the end of the year and registered for a stock offering worth more than $7.8 million, as Mass Device notes. So the MTWA results and the promotion come as very good news for the company.
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