CARDIONET, INC. FILES RESALE REGISTRATION STATEMENT
CONSHOHOCKEN, PA - (Business Wire) - June 23, 2008 - CardioNet, Inc. (NASDAQ:BEAT), a leading wireless medical technology company with an initial focus on the diagnosis and monitoring of cardiac arrhythmias, today filed a resale registration statement with the SEC related to the shares that were underlying the Mandatorily Redeemable Convertible Preferred Stock issued in March 2007. The shares being registered remain subject to lock-up agreements entered into in connection with CardioNet's IPO, pursuant to which the holders have agreed not to sell such shares until at least September 15, 2008.
Marty Galvan, CardioNet's Chief Financial Officer, commented: "We have filed this registration statement to satisfy a contractual obligation related to our March 2007 financing. CardioNet is not issuing new shares. The shares that were underlying the Mandatorily Redeemable Convertible Preferred Stock will remain subject to the IPO lock-up agreements, even upon the registration statement being declared effective."
About CardioNet
CardioNet is the leading provider of ambulatory, continuous, real-time outpatient management solutions for monitoring relevant and timely clinical information regarding an individual's health. CardioNet's initial efforts are focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders, with a solution that it markets as the CardioNet System.
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