CardioNet's Director of Business Development Aaron Goldmuntz laid out his company's growth strategy during a presentation this morning at Qualcomm's Smart Services Leadership Summit here in San Diego. Immediate opportunities for growth, Goldmuntz said, included leveraging CardioNet's platform to develop additional applications that relate to atrial fibrillation. Adjacent markets could include work in clinical trials, increased business with cardiac surgeons, applications addressing stroke prevention as well as leveraging the CardioNet platform for use internationally. (Surprised to hear CardioNet bring up its interest in clinical trials despite its recently cancelled acquisition of Biotel, which looked to help position the company to launch its clinical trial business.)
Beyond those adjacent markets, Goldmuntz pointed to other conditions that CardioNet sees as potential opportunities for wireless diagnostic and monitoring tools: sleep apnea, hypertension, heart failure, diabetes and neurology. While Cardionet recently announced its SomNet offering, Goldmuntz noted that SomNet only determines indications for sleep apnea and is not a diagnostic tool. A diagnostic tool might be a future product for CardioNet, however.
Finally, Goldmuntz said one longterm opportunity could be leveraging CardioNet's existing infrastructure and service model to facilitate the service side of wireless health technologies for those companies or start-ups that have no interest in becoming service providers.
When asked whether CardioNet's potential plan to become a services provider for wireless sensor and device makers was similar to the plans LifeComm had in place, Goldmuntz replied: "LifeComm was an opportunity to fill that need" and as part of CardioNet's "longterm future growth" CardioNet could fill that service provider need for the market.
Seems Qualcomm and Verizon Wireless's joint venture announcement this morning coupled with CardioNet's interest in leveraging its service model for other wireless health start-ups, indicates that the industry is moving ahead into a world without LifeComm.