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CardioNet Appoints Randy Thurman As Chairman, President And CEO

CardioNet, Inc. (CardioNet), a US-based medical devices company, has appointed Randy Thurman as chairman, president and chief executive officer (CEO), effective February 25, 2009. Thurman has been serving as chairman of the board since June 2008 and interim president and chief executive officer since January 2009. Thurman most recently served as chairman and CEO of VIASYS Healthcare Inc. Prior to VIASYS, Thurman was chairman of the board and CEO of Corning Life Sciences.

Thurman said, “I am very excited to accept this appointment as President and Chief Executive Officer. After having the opportunity to work on a day-to-day basis with the CardioNet team, I have an even stronger conviction that the Company represents one of the most exciting opportunities in the medical technology arena today. I am thrilled to lead the Company during this pivotal period as we execute on our 2009 plan. As highlighted in our earnings call last week, we intend to make strategic investments that will lay the foundation for accelerated growth and leverage the opportunities available in the wireless healthcare market. In 2009, we expect to increase our sales force by approximately 70% and invest in a number of strategic initiatives designed to ensure the highest quality of sales and marketing professionals, customer service and monitoring operations. We believe these initiatives will dramatically increase our share of the wireless cardiac monitoring market over the next several years.”

Thurman continued, “Last week we announced our 2008 financial results which reflected year over year revenue growth of 65% and marked our first full year of profitability. Our 2009 guidance clearly illustrates our growth opportunity with revenue expected to increase more than 40% and EPS expected to increase over 75% versus prior year.

“Today CardioNet is leading what we believe to be a revolution in healthcare – wireless medicine. Looking forward we will keep our focus on becoming the unquestioned leader in our industry and continue to work to build near term and long term value for all of our stakeholders.”