HeartBeam Collaborates with Samsung to Boost Cardiac Diagnostic Capabilities
HeartBeam, Inc. (NASDAQ: BEAT), renowned for their pioneering 3D-vector electrocardiogram (VECG) technology, has announced a new Strategic Alliance Agreement (SAA) with tech titan, Samsung. This partnership extends the pre-existing SAA between Samsung and LIVMOR, whose assets HeartBeam acquired earlier this year.
HeartBeam and Samsung aim to identify collaborative opportunities that leverage HeartBeam’s patented technology and expertise in cardiac symptom assessment and monitoring. The innovative collaboration plans to improve standard care for cardiac diagnostic capabilities by merging the advanced technologies from both companies.
HeartBeam Aims for Enhanced Cardiac Care With Acquisition and Collaboration
HeartBeam’s CEO and Founder, Branislav Vajdic, Ph.D., has expressed high hopes for the partnership’s future. The recently acquired Samsung watch-based arrhythmia detection tool and its integration with HeartBeam’s FDA cleared telehealth platform, AIMIGo™, promise to boost product capabilities for cardiac patients beyond a medical setting.
Under the initial SAA, Samsung and LIVMOR created a successful FDA cleared solution for Atrial Fibrillation detection, which Samsung’s Senior Director of Federal Healthcare, Kevin Jones, notes has significant potential when combined with HeartBeam’s AIMIGo™ system.
LIVMOR’s Pioneering Technology Provides Unique Opportunities
Founded in 2016, LIVMOR developed the Halo™ Atrial Fibrillation (AF) Detection System, the world’s first FDA-cleared prescription wearable for continuous cardiac rhythm monitoring. This technology was commercially deployed within the VA Healthcare System in Dallas, Texas, providing extended monitoring of patient cardiovascular health in virtually any setting.
Dr. Jerrold Grodin of the Department of Veterans Affairs, North Texas, acknowledges the value of cooperation between HeartBeam, LIVMOR, and Samsung in offering remote, effective care for the nation’s most vulnerable patients.
HeartBeam Eyes Potential Collaboration with Department of Veterans Affairs
One promising opportunity is potential collaboration with the Department of Veterans Affairs through the Accelerating VA Innovation and Learning (AVAIL) program. Longview International Technology Solutions (LTS), a systems integration company, LIVMOR and Samsung are official collaborators with LTS for the AVAIL project.
With this new alliance, HeartBeam looks forward to sharing its expertise in cardiac symptom assessment and monitoring to assist the VA, the largest integrated healthcare system in the U.S. According to Dr. Vajdic, the need for heart attack detection improvements in the VA is particularly critical due to the high incidence of coronary artery disease among veterans.
Market Response
Shares of HeartBeam are rallying 23% through early trading on Tuesday, May 30, 2023. Over the past three months, the cardiac medical device company has seen an average daily volume of 107,680 shares. However, volume of 12.51 million shares or dollar volume of around $33.65 million, has already exchanged hands through early trading. As of this writing, shares of HeartBeam have returned -45% year-to-date in 2023.
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