Zargis Medical receives U.S. Army contract to develop investigational device based on Signal-X6 systems

Zargis Medical Corp., a majority-owned subsidiary of Speedus Corp. (Nasdaq: SPDE), today announced that it received a contract from the U.S. Army to develop an investigational device based on the success of the Signal-X6™ telemedicine systems recently deployed to the Army under a separate contract. Under the terms of the new contract, Zargis will develop prototype versions of the Signal-X6 system that will incorporate automated heart sound detection and murmur classification functionality similar to that offered by the award-winning Zargis Cardioscan software.  This $120,000 contract will commence on August 1^st, 2010.

Due to the fact that each Signal-X6 device incorporates six acoustic sensors that simultaneously record sounds from a patient's torso, this new project will allow Zargis to enhance its proprietary heart sounds analysis technology by leveraging multi-channel heart sound input instead of relying on input from the single sensor contained in a stethoscope.

"We are excited about this latest chapter in our ongoing relationship with the U.S. Army," stated Zargis CEO John Kallassy. "As our Signal-X6 systems continue to be evaluated throughout the Army's Military Treatment Facilities, we anticipate that the integration of our heart sounds analysis algorithms will lead the Army, and others, to deploy our devices on a wider scale."

Zargis expects that clinical data obtained regarding this project will culminate in the development of an Army-sponsored research paper.