Heart Force Medical Inc. Announces Closing of Private Financing

VANCOUVER, Jan. 7 /CNW/ - Heart Force Medical Inc., a Vancouver-based company that is developing a non-invasive cardiac assessment, monitoring and screening device, announces today that it has closed its private, non-brokered financing after raising $4.8 million net.

"Despite the turmoil in the capital markets in 2009 Heart Force demonstrated the increasing value of the digital Ballistocardiograph (dBG(TM)) technology by the achievement of a series of milestone events that culminated in the closing of this financing," said Dr Geoff Houlton, HFM's President and CEO. "Last year in addition to the award for best pre-commercial technology from the BCTIA, we secured FDA certification. Most recently, on January 5th we received the European CE Marking. This mandatory confirmatory mark certifies that the dBG 300 has achieved the necessary safety and efficacy requirements for marketing to all countries in the European Union. In 2010 we will continue to advance our clinical applications in a number of clinical experience studies including ischemic heart disease and cardiac pacing studies."

Heart Force Medical anticipates its dBG technology will ultimately be used by physicians as the premier non-invasive cardiac assessment, monitoring and screening device.

About Heart Force

Heart Force Medical Inc. (HFM) is a private company. In June 2009 HFM was the winner of the BC Technology Impact Association Award for most promising pre-commercial technology. It has invented and has patents pending for the digital Ballistocardiograph (dBG(TM)). The dBG 300, which is already approved in Canada and secured FDA certification in July 2009, captures the movement of the heart during each cardiac cycle (heart beat). This cardiac movement (acceleration and force) is sensed by an accelerometer aligned to the three principal axes and displayed on a computer screen using HFM's proprietary software. Preliminary evaluation has determined that a 10-30 second recording of the dBG waveform is sufficient for a detailed analysis of cardiac performance. The Heart Force dBG 300 device is a non-invasive, standalone, portable unit and contains sophisticated digital sensors and proprietary software.

For further information: visit www.heartforcemedical.com or contact: geoff.houlton@heartforcemedical.com or by telephone at (604) 566-8202 or issa.nakhleh@heartforcemedical.com or (604) 566-8206