SUNRISE, Fla., Aug. 21 /PRNewswire-FirstCall/ -- Bioheart, Inc., (Nasdaq: BHRT) a company committed to delivering intelligent devices and biologics that help monitor, diagnose and treat heart failure and cardiovascular diseases, today announced receipt of a $1 million unsecured loan from Rogers Telecommunications Limited. This loan is payable upon the later of three months or Bioheart's repayment of its loan from BlueCrest Capital. In addition, under certain circumstances, the Company may be permitted to pay outstanding interest and principal in shares of its common stock. The loan will be used for Bioheart's ongoing clinical and business operations, as the Company continues to actively pursue additional investment support.
"We are grateful for the support offered by Rogers Telecommunications Limited and its recognition of the important clinical work we are doing for heart failure patients," said Howard J. Leonhardt, Chairman and Chief Executive Officer of Bioheart, Inc. "We hope to soon introduce intelligent devices that offer synergies with our clinical therapies and provide critical at-home monitoring of these patients."
Bioheart recently announced its plan to enter the device market as a complement to its MyoCell(R) Clinical Therapy program, which targets patients with congestive heart failure.
-- On August 1, 2008, the Company announced it entered into a
non-binding letter of intent to acquire MEDICALGORITHMICS, Ltd. and the
worldwide rights to the POCKETECG, a real-time wireless beat-to-beat,
intelligent heart monitor and diagnostic system, designed for long-term,
fully-automated electrocardiogram (ECG) arrhythmia and AFib analysis. The
device, manufactured by MEDICALGORITHMICS, Ltd., Poland, recently received
|SOURCE Bioheart, Inc.|
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