Cardio Diagnostics Inks Groundbreaking Telehealth Agreement With Navierre And Expands Access To Cardiovascular Tests
Chicago IL
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April 12, 2024 08:45 AM Eastern Daylight Time
By Jeremy Golden, Benzinga
Cardio Diagnostics Holdings, Inc. (NASDAQ: CDIO), an artificial intelligence-powered precision cardiovascular medicine company that makes cardiovascular disease prevention and early detection more precise, has inked a new deal with an innovative digital health technology platform.
Cardio Diagnostics’ strategic partnership with Navierre — which revolutionizes how patients access healthcare by acting as a true health companion for every stage of life — aims to significantly expand access to Cardio Diagnostics' industry-leading, AI-enabled precision cardiovascular diagnostic tests.
On April 1, Cardio Diagnostics’ precision heart health solutions, including its flagship AI-powered epigenetic-genetic cardiovascular risk, detection and management tests, became available to thousands of patients and clinicians on Navierre’s platform.
Now, Navierre-partnered clinicians across the United States can seamlessly order these tests for their patients. Consumers can easily register for a profile on the platform by filling out a health questionnaire and requesting a test.
Those clinical tests, Epi+Gen CHD and PrecisionCHD, only require a blood sample that can be collected in provider settings, at home or via mobile phlebotomy. This ease of collection will enable Cardio Diagnostics’ partnership with Navierre to leverage the growing telehealth market and revolutionize the patient cardiovascular care journey through earlier detection, accessible specialty care and personalized prevention.
“We are thrilled to partner with Navierre to make our industry-leading cardiovascular clinical tests more widely available to patients and clinicians nationwide,” said Meesha Dogan, Ph.D., CEO and Co-Founder of Cardio Diagnostics. “Navierre’s innovative platform aligns with our mission to transform cardiovascular care through AI-driven precision diagnostics and personalized prevention strategies.”
Cardiovascular Market Growth
Nearly 50% of Americans live with diabetes, obesity, hypertension or another major cardiovascular risk, according to the Centers for Disease Control and Prevention (CDC). Cardiovascular disease is the leading cause of death worldwide, accounting for nearly 19 million deaths annually.
This impact on a growing number of people across the world means the demand for cardiovascular diagnostics has never been higher. Companies in the field are in a position to achieve robust growth as they strive to meet the demand.
Projections indicate a Compound Annual Growth Rate (CAGR) of 5.1% in the cardiovascular diagnostics market, whose market valuation is expected to reach $9.7 billion by 2033. This surge can be attributed to the escalating demand for sophisticated and accessible diagnostic technologies in the fight against cardiovascular diseases.
Following this upward trend, the digital health and telehealth markets are poised for growth that has been fueled by the rapid adoption of telehealth services and the integration of AI technologies.
The AI healthcare market, which is also poised for significant growth, had an estimated size of $22.45 billion in 2023, a number that’s expected to accelerate at a CAGR of 36.4%. Finally, the telehealth market, with a valuation of $128.12 billion in 2022, is forecasted to quadruple by 2030 to $504.24 billion.
These developments have changed the healthcare landscape and underscore the Cardio Diagnostics-Navierre partnership’s positioning to capitalize on these market shifts.
Navierre provides a digital health platform that can integrate Cardio Diagnostics’ tests into a broader telehealth ecosystem, expanding access and facilitating earlier cardiovascular risk detection. That means the flexibility of Cardio Diagnostics’ tests will pave the way for rapid nationwide scaling with minimal infrastructure barriers.
Thus, the partnership could make specialty cardiology care more readily available for all communities, including those that are often underserved. By expanding the sites of care to telehealth and remote-enabled provider organizations, this partnership addresses the critical issue of increasing wait times for specialty care while democratizing access to top-tier heart disease services.
This collaboration directly responds to current diagnostic methods' limitations, offering a scalable solution that extends to remote zip codes in the U.S.
Advances In The Fight Against The Top Cause Of Death
The COVID-19 pandemic has accelerated the adoption of digital health solutions, with the CDC reporting that 36% of adults used telehealth services in 2021. McKinsey & Company estimates that up to $250 billion of U.S. healthcare spending could be virtualized, representing about 20% of all Medicare, Medicaid and commercial outpatient, office and home health expenditures.
This shift to digital health and AI-driven diagnostics could have a broad impact on the cardiovascular detection, care and management industry.
Across the country, there is a need for more accessible and systemic healthcare solutions. This new partnership offers an important response to the goal of combating cardiovascular diseases globally while committing to health equity and access.
“Cardio Diagnostics’ groundbreaking testing solutions are an exciting addition to our curated list of products and services we offer to our users,” said Mustafa Dinani, CEO and co-founder of Navierre.
“By combining our innovative platform with their AI-driven precision diagnostics, we empower patients and clinicians with the tools they need to identify cardiovascular risk early when it can be most effectively addressed. Together, we are making significant strides in the fight against the world’s leading cause of death,” he said.
Featured photo by Ali Hajiluyi on Unsplash
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.
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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Contact Details
Gene Mannheimer - Investor Relations
+1 855-226-9991
investors@cardiodiagnosticsinc.com
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