Cardio Diagnostics Holdings, Inc. Expands Partnership with Family Medicine Specialists to Bring Its Specialty Cardiology Tests to Select Walmart Supercenters

Rhea-AI Summary

Cardio Diagnostics Holdings, Inc. (NASDAQ: CDIO) announced the introduction of AI-driven epigenetic heart attack risk assessment and coronary heart disease detection tests in a retail healthcare setting at the Round Lake Beach Walmart Supercenter in Illinois. The tests will be available beginning Q2 2024, marking a strategic expansion of the ongoing Heart Attack Prevention Initiative with Family Medicine Specialists (FMS). The initiative aims to increase accessibility of clinical cardiovascular diagnostic solutions, making them available to more patients beyond traditional provider settings. The partnership with FMS is expected to democratize access to top-tier heart disease services and position Cardio Diagnostics as a leader in cardiovascular retail healthcare innovation. The tests, Epi+Gen CHD and PrecisionCHD, detect heart attack risk and coronary heart disease status, respectively, and will be offered on a walk-in basis, making the vital service more accessible to patients.

Market Research Analyst

The introduction of Cardio Diagnostics Holdings, Inc.'s AI-driven epigenetic-genetic blood tests for heart attack risk assessment and coronary heart disease detection in a retail healthcare setting, specifically Walmart Supercenters, represents a significant development in the healthcare industry. This strategic initiative taps into the growing trend of retail healthcare, which has been gaining traction due to its convenience and accessibility. According to AMN Healthcare, with over 30% of Americans already using retail clinics, this figure is expected to increase. This move is likely to enhance Cardio Diagnostics' market share and visibility, potentially impacting its stock valuation positively.

From a market perspective, this partnership could set a precedent for other healthcare companies to follow, potentially leading to increased competition in the retail space. The retail healthcare market is evolving and companies that establish early partnerships with large retail chains like Walmart could secure a competitive advantage. For investors, this could mean a reshuffle of market positions as companies vie for consumer attention in increasingly accessible locations.

Medical Research Analyst

The deployment of Epi+Gen CHD™ and PrecisionCHD™ tests is a leap forward in preventive healthcare. These tests analyze epigenetic markers, which are changes in gene expression that do not involve alterations to the underlying DNA sequence. Such markers can provide insights into an individual’s risk of developing coronary heart disease, which is a leading cause of death worldwide. By making these tests available in a retail setting, Cardio Diagnostics is not only increasing the ease of access to advanced diagnostic tools but also potentially aiding in the early detection and management of cardiovascular diseases.

This development could have a long-term impact on healthcare costs and patient outcomes. Early detection of heart disease can lead to better management and treatment, reducing the burden on healthcare systems. Furthermore, this initiative aligns with the broader shift towards personalized medicine, where treatments and preventive strategies are tailored to individual genetic and epigenetic profiles.

Financial Analyst

Cardio Diagnostics' partnership with Family Medicine Specialists (FMS) to offer their tests at Walmart locations could have financial implications for the company. By entering the retail healthcare market, Cardio Diagnostics may experience an increase in the volume of tests administered, which could translate to higher revenues. Additionally, the convenience of walk-in availability at a familiar retail location like Walmart may attract a larger customer base who might not have otherwise sought out such testing.

Investors should monitor the uptake of these tests and the company's ability to scale operations to meet potential demand. The initial launch in the Chicago suburb could serve as a litmus test for the viability of expanding these services nationwide. If successful, this could lead to a scalable model that may positively influence the company's financial performance and investor confidence.

Agreement is the first introduction of AI-driven epigenetic heart attack risk assessment and coronary heart disease detection tests in a retail healthcare setting on a walk-in basis.

CHICAGO--(BUSINESS WIRE)-- Cardio Diagnostics Holdings, Inc. (NASDAQ: CDIO), an AI-driven precision cardiovascular medicine company, today announced that the Company’s AI-driven epigenetic-genetic blood tests, Epi+Gen CHD and PrecisionCHD, will be available beginning Q2 2024 in a retail healthcare setting inside the Walmart Supercenter in Round Lake Beach, Illinois.

Round Lake Beach, a northern suburb of Chicago in Lake County, has been chosen as the strategic starting point for this retail healthcare initiative. This initiative is an expansion of the ongoing Heart Attack Prevention Initiative with Family Medicine Specialists (FMS) to increase the accessibility of clinical cardiovascular diagnostic solutions, moving them beyond traditional provider settings and into the more accessible realm of retail healthcare for hundreds of additional patients in Lake County, Illinois. The retail healthcare footprint and market share continues to grow as more Americans embrace the convenience and accessibility to high quality healthcare services. In a recent report, AMN Healthcare reported that 30.3 percent (79.6 million) Americans received care at a retail clinic, and expect 32.8 percent of Americans to do so in 2024.

“Our partnership with FMS to bring our tests to their Walmart locations is a game-changer in the field of cardiovascular health management. By integrating Cardio Diagnostics' state-of-the-art clinical tests within FMS’s expansive retail network, we are shifting the paradigm from a model that relies on specialty care infrastructure to one that meets American communities in their backyard. This strategic alliance not only democratizes access to top-tier heart disease services but also propels Cardio Diagnostics as a leader in cardiovascular retail healthcare innovation. Our ultimate goal is to meet patients where they are, weaving advanced medical services seamlessly into the fabric of their everyday lives," shared Meesha Dogan, Ph.D., Co-Founder and CEO of Cardio Diagnostics.

Employees and customers in the Round Lake Beach Walmart location of FMS will have access to both of Cardio Diagnostics' clinical blood tests on a walk-in basis. The Company’s epigenetic-genetic cardiovascular clinical blood tests, Epi+Gen CHD™ and PrecisionCHD™, detect heart attack risk and coronary heart disease status, respectively. These tests are easy to administer in the retail healthcare setting because they only require a simple blood draw, bringing this vital service closer to patients.

“At Family Medicine Specialists, we have multiple retail healthcare partnerships and are particularly excited about our unique and innovative partnership with Cardio Diagnostics, a leader in clinical cardiovascular diagnostic solutions. This collaboration will enable us to bring advanced cardiac diagnostic tools directly into our retail healthcare clinic locations, enhancing our ability to provide more advanced patient care without the need for additional infrastructure. We believe that this partnership will empower our clinicians with additional resources to better serve our patients’ needs," stated Jason Bellucci, MBA, President of Family Medicine Specialists.

Bringing Precision Cardiovascular Testing to Each Neighborhood

Heart attacks and coronary heart disease pose significant health risks, and earlier detection and intervention remain crucial for prevention. In the current healthcare paradigm, accessing specialized tests for assessing one’s heart attack risk or for the diagnosis of coronary heart disease means having to navigate complex schedules and significant waiting periods. While primary care and family medicine practices have managed to maintain relatively shorter wait times, specialty areas like cardiology have seen a significant rise, with the average wait time now extending to about 26.6 days. This delay particularly impacts cardiology patients, where timely intervention can be crucial.

With 45% of Americans projected to have some form of cardiovascular disease by 2035, the key question is, how can Americans and their providers quickly gain clarity about a patient’s heart disease without weeks of waiting for a specialist appointment? The short answer is, cardiology specialty tests must be routinely and readily available in community settings, such as in retail healthcare stores.

With the deployment of Cardio Diagnostics' advanced blood tests across select Walmart locations in partnership with FMS, the Company aims to help alleviate the critical issue of increasing wait times for specialty care. Cardio Diagnostics' expanded collaboration with FMS at select Walmart locations, beginning with the Round Lake Beach location, is a key opportunity to reduce wait times for cardiac assessments and care, and expand community-based access to heart disease solutions.

The company intends to continue to identify and partner with provider organizations with a strong retail healthcare presence who are keen to enhance their existing heart disease-related services with precision cardiovascular diagnostic and risk assessment technologies.

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.

Forward-Looking Statements

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 Forms 10-Q for the period ended March 31, 2023 and September 30, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240207106347/en/

Investors:

Gene Mannheimer

Investor Relations

855-226-9991

investors@cardiodiagnosticsinc.com

Media & Public Relations:

Khullani Abdullahi

855-226-9991

pr@cardiodiagnosticsinc.com

Source: Cardio Diagnostics Holdings, Inc.

FAQ

When will the AI-driven epigenetic-genetic blood tests be available in the retail healthcare setting at the Round Lake Beach Walmart Supercenter?

The AI-driven epigenetic-genetic blood tests, Epi+Gen CHD and PrecisionCHD, will be available beginning Q2 2024 at the Round Lake Beach Walmart Supercenter.

What is the purpose of the partnership with Family Medicine Specialists (FMS)?

The partnership with FMS aims to increase accessibility of clinical cardiovascular diagnostic solutions, making them available to more patients beyond traditional provider settings.

What are the tests, Epi+Gen CHD and PrecisionCHD, designed to detect?

The tests, Epi+Gen CHD and PrecisionCHD, are designed to detect heart attack risk and coronary heart disease status, respectively.

How will the tests be offered at the Round Lake Beach Walmart Supercenter?

The tests will be offered on a walk-in basis at the Round Lake Beach Walmart Supercenter, making the vital service more accessible to patients.

What is the ultimate goal of Cardio Diagnostics in this initiative?

The ultimate goal of Cardio Diagnostics is to democratize access to top-tier heart disease services and position themselves as a leader in cardiovascular retail healthcare innovation.