SYDNEY, AUSTRALIA: CardieX Limited (ASX: CDX) has acquired all of the assets of Blumio Inc, a Silicon Valley based developer of advanced algorithms and technology for cardiovascular sensors, signifying the Company’s continued investment in cardiovascular health monitoring technologies. The consideration is $165,100 comprising of cash and CardieX Limited shares.

Blumio’s technology has the potential to significantly increase clinical performance for CardieX’s ecosystem of heart health monitoring solutions, with the core assets and intellectual property of Blumio being in developing wearable sensor technologies that can capture a cardiovascular signal without necessitating the use of pulse pressure.

Commenting on the acquisition CardieX Group CEO, Craig Cooper stated: “Blumio brings a suite of capabilities in wearable sensor development, signal processing, and big data analytics expertise that will benefit both of our ATCOR and CONNEQT brands, especially in relation to the ongoing development activities surrounding our CONNEQT Band.

This acquisition is a natural extension of our core solutions that provide a comprehensive ecosystem of unique health and wellness features focused on heart health.

I’m also personally thrilled to have Catherine and Steve join our team. I’ve been working closely with Catherine for over 3-years as a result of our development collaboration and have seen first-hand the vision and strategic input she can bring to CardieX.”

Commenting on the acquisition, former Blumio CEO Catherine Liao stated: “I’m personally very excited to join the CardieX group of companies. We’ve come a long way with our development activities at Blumio and the time was right to bring that knowledge and technology into a company that shares our strong cultural alignment and focus on creating disruptive health solutions.”

Blumio has also developed a suite of data analytics and visualization tools used to uncover insights in clinical data that significantly contribute to CardieX’s current wearable development efforts. These tools will enhance CardieX’s “Arty™ Heart Health Analytics Platform” to proactively monitor, alert, and provide actionable health insights from CardieX’s CONNEQT Pulse and CONNEQT Band devices – thereby enabling physicians and patients alike to make more informed healthcare decisions.

As the largest convertible note investor and having validated a successful strategic partnership, CardieX offered to acquire the assets of Blumio, in exchange for a return to other Blumio investors (excluding CardieX) who will receive the consideration on a prorata basis.