CardioMag Imaging's Chairman Remembers Intermagnetics General Corp.

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- From GE Spin-Off Sold for 1.3 Billion Dollars to Philips -

CardioMag Imaging, Inc. (CMI) is pleased to announce that highlights of the 35 year growth trajectory of Intermagnetics General Corporation, from a GE spin-off to the Company’s sale to Royal Philips Electronics (Philips Medical) for 1.3 Billion Dollars has been accepted for publication by ESAS and CSC-the European Superconductivity News Forum.

Written by the Company’s former CEO and Chairman Emeritus, Carl H. Rosner (now Chairman of CardioMag Imaging), the story recites key events, including overcoming difficult challenges that eventually led the company to become the most successful entrepreneurial start-up in the New York State Capital Region.

The paper will be included in a book published later this year, in celebration of the 100th Anniversary of the discovery, by H.K. Onnes in Holland in 1911, of the unique phenomenon of Superconductivity.

Intermagnetics became a world leader in the development, manufacture and marketing of energy-saving superconductor based materials and devices which the company provided to a variety of industries and research organizations in many countries. In particular, Intermagnetics dramatically led the way to commercial sale of MRI diagnostic magnet systems. MRI systems achieved major growth, reaching multi-billion dollar annual sales levels. That technology is now an application of superconductors that has become a permanent and important diagnostic tool in the worldwide medical field. Moreover, superconductivity continues to have potential to provide for large-scale electric power efficiency.

The full paper is available online at http://ewh.ieee.org/tc/csc/europe/newsforum/pdf/RN22.pdf, and is a Preprint of plenary SCC paper submitted to Physica C on September 9, 2011 and accepted January 20, 2012 (Reference No. RN22; Categories 5, 6, 11, 13.

CardioMag Imaging, Inc., formed in 1999 to transition results from over 30 years of worldwide MCG research and development into commercially useful and attractive SQUID (Superconducting Quantum Interference Device) based products. The company is positioning itself to provide lifesaving and medical cost containment solutions to the cardiac health care community by designing, manufacturing and marketing innovative imaging and medical diagnostic devices for early detection of heart disease.

Safe Harbor Statement: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as CardioMag or its management “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates,” or other words or phrases of similar import. Similarly, statements herein that describe CardioMag’s business strategy, outlook, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain assumptions, risks and uncertainties, and other factors set forth here, including but not limited to, obtaining FDA approval, market acceptance, insurance companies reimbursement policies on particular diagnostic applications and the growth of customer acceptance that could cause actual results to differ materially from those in forward-looking statements.

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Catherine Arduini
carduini@cardiomag.com
518-713-4399
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