SonoSite Announces Plans to Acquire CardioDynamics

SonoSite, Inc. a specialist in hand-carried and point-of-care ultrasound, has reached an agreement to acquire CardioDynamics International Corporation CDIC.

CardioDynamics reported revenues of $24.5 million in 2008. Its impedance cardiography (ICG) product line provides non-invasive assessment of cardiac output and other hemodynamic parameters in the physician’s office, outpatient clinic or hospital. This information allows physicians to assess and diagnose underlying cardiovascular disorders, customize and target treatment, monitor the effectiveness of prescribed medications and identify potential complications. The company’s latest generation product, the BioZ® Dx system, integrates ICG with electrocardiography (ECG), providing the ability to assess both mechanical and electrical cardiovascular function.

“The acquisition of CardioDynamics is part of a strategic initiative that moves SonoSite forward toward our long-stated goal of adding clinical value and reducing healthcare system costs in cardiovascular disease management. CardioDynamics is the platform we will build upon to achieve this goal,” says Kevin M. Goodwin, SonoSite president and CEO.

Goodwin continues, “CardioDynamics offers non-invasive, cost saving products and technology. Current products, as well as those in the pipeline, represent attractive innovation opportunities for point-of-care medicine. In addition, CardioDynamics has established a solid direct sales channel in the U.S. with 38 sales representatives calling on cardiologists, internal medicine and family medicine practitioners, primarily in physician office settings. We believe we can leverage this channel to build on our existing footprint in point-of-care markets.”

“This milestone event is an important acknowledgement of the value that CardioDynamics has produced in creating a new technology for the assessment of cardiovascular disease,” says Michael K. Perry, CEO of CardioDynamics. “We are pleased to join with an industry leader in point-of-care medicine who shares our vision of creating non-invasive technologies that improve outcomes and reduce the cost of patient care. The expanded platform that the combination with SonoSite provides will benefit our customers, employees and shareholders.”

The acquisition is conditioned upon approval by CardioDynamics’ shareholders as well as the satisfaction of other customary conditions. Approval by SonoSite’s shareholders is not required. The transaction is expected to close in the third quarter of 2009.

About SonoSite
SonoSite, Inc. (www.sonosite.com) is the innovator and world leader in hand-carried ultrasound. Headquartered near Seattle, the company is represented by ten subsidiaries and a global distribution network in over 100 countries. SonoSite’s small, lightweight systems are expanding the use of ultrasound across the clinical spectrum by cost-effectively bringing high performance ultrasound to the point of patient care. The company employs approximately 700 people worldwide.

About CardioDynamics
CardioDynamics is the innovator and a leader in the development, manufacture and distribution of noninvasive Impedance Cardiography (ICG) diagnostic and monitoring devices and proprietary ICG sensors. For additional information, please refer to the company's Web site at www.cdic.com.