Cardio Diagnostics Holdings, Inc (Nasdaq: CDIO), a pioneer of artificial intelligence-driven precision cardiovascular medicine tests, today announced a significant move to transform global cardiovascular health, by entering into a Supply and Distribution Agreement with one of India’s premier organizations, Aimil Ltd. Aimil, a company at the forefront of the instrumentation industry in India since 1932 with 14 sales and services offices across India, is a leader in introducing innovative, best-in-class technologies from around the world to their extensive healthcare network throughout India.
Cardiovascular disease (CVD) remains the leading cause of death in India, with the nation facing alarmingly high incidences. According to the Global Burden of Disease study by the Institute for Health Metrics and Evaluation, the age-standardized CVD death rate in India is 282 deaths per 100,000 people, which is markedly higher than the global average of 233 deaths per 100,000 people. Studies have reported that Indians develop heart disease nearly a decade earlier than their European counterparts, with approximately 62% of heart disease related deaths among Indians being premature. This strategic venture between Cardio Diagnostics and Aimil seeks to address the growing prevalence of heart disease in India through the introduction of Cardio Diagnostics’ clinical test, PrecisionCHD, for the detection and personalized management of coronary heart disease (CHD).
The first phase of this collaboration will focus on pre-marketing, laying the groundwork for a successful product introduction to Aimil’s extensive healthcare network. Cardio Diagnostics and Aimil intend to further expand the Supply and Distribution Agreement after a successful phase one, to ensure that customers in India have consistent and reliable access to Cardio Diagnostics’ groundbreaking diagnostic test. With Cardio Diagnostics’ PrecisionCHD test, there is a significant opportunity to reduce the burden of CHD across India. Unlike current tests to diagnose CHD such as a stress test and CCTA, PrecisionCHD does not require costly infrastructure nor exposing a patient to radiation or kidney-damaging contrast dye. PrecisionCHD only requires a simple blood draw from the patient, allowing for this test to be deployed at scale in both urban and rural settings.
“Heart disease is a global problem and Cardio Diagnostics’ expansion to India underscores our commitment to combat heart disease globally. We are thrilled to partner with Aimil on our first international expansion,” said Meesha Dogan Ph.D., CEO and Co-Founder of Cardio Diagnostics. “This expansion is possible because Cardio Diagnostics’ clinical tests are developed with scalability in mind with respect to operations and costs, enabling deployment across diverse healthcare landscapes worldwide, to play a transformative role in mitigating heart disease globally.”
“We are excited to collaborate with Cardio Diagnostics to introduce the first epigenetics-based heart disease diagnostic technology to India. As a leader in the healthcare industry, Aimil is committed to empowering our customers, partners, and the healthcare community in India with innovative solutions to tackle heart disease,” said Dr. Mallika Kapur, Executive Director of Aimil.
About Cardio Diagnostics
Cardio Diagnostics is an artificial intelligence-powered precision cardiovascular medicine company that makes cardiovascular disease prevention, detection, and management more accessible, personalized, and precise. The Company was formed to further develop and commercialize clinical tests by leveraging a proprietary Artificial Intelligence (AI)-driven Integrated Genetic-Epigenetic Engine (“Core Technology”) for cardiovascular disease to become one of the leading medical technology companies for improving prevention, detection, and treatment of cardiovascular disease. For more information, please visit www.cardiodiagnosticsinc.com.
Aimil was founded in 1932, with a mission to bring leading edge technologies to India. With 14 sales and service offices across India, 1000+ employees, NABL certified testing and calibration laboratories, and manufacturing, R&D & software development capability, Aimil offers value-added distribution to overseas companies wanting to expand professionally in India. www.aimil.com
Certain statements and information included in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. When used in this press release, the words or phrases “will”, “will likely result,” “expected to,” “will continue,” “anticipated,” “estimate,” “projected,” “intend,” “goal,” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, many of which are beyond the control of the Company. Such uncertainties and risks include but are not limited to, our ability to successfully execute our growth strategy, changes in laws or regulations, economic conditions, dependence on management, dilution to stockholders, lack of capital, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth and demand for products and services of the Company, newly developing technologies, the Company’s ability to compete, regulatory matters, protection of technology, the effects of competition and the ability of the Company to obtain future financing. An extensive list of factors that can affect future results are discussed in the Current Report on Form 10-K for the period ended December 31, 2022 and Form 10-Q for the period ended March 31, 2023, under the heading “Risk Factors” in Part I, Item IA thereof, and other documents filed from time to time with the Securities and Exchange Commission. Such factors could materially adversely affect the Company’s financial performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed within this press release.
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