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August 03, 2015 5:07 AM ET

Healthcare Equipment and Supplies

Company Overview of Cambridge Heart Inc.

Company Overview

Cambridge Heart, Inc. engages in the research, development, and commercialization of products for the non-invasive diagnosis of cardiac disease. It provides Microvolt T-Wave Alternans (MTWA) Module that is designed to work with existing cardiac stress test platforms distributed by other manufacturers as an add-on module; HearTwave II System, which is used to perform MTWA testing and standard cardiac stress testing; Micro-V Alternans Sensors that are multi-segment electrodes used to obtain results from the MTWA Test; and CH2000, a cardiac diagnostic system designed to support a range of standard and physician-customized protocols for conducting and measuring cardiac exercise stress testing. T...

100 Ames Pond Drive

Suite 100

Tewksbury, MA 01876

United States

Founded in 1990

26 Employees

Phone:

978-654-7600

Fax:

978-654-4501

Key Executives for Cambridge Heart Inc.

President, Secretary, Treasurer and Director
Age: 53
Area Vice President of East Region
Area Vice President of West Region
Vice President of Clinical Affairs
Vice President of Sales & Marketing
Compensation as of Fiscal Year 2015.

Cambridge Heart Inc. Key Developments

SEC Revokes Registration Of Registered Securities Of Cambridge Heart

An Administrative Law Judge has issued an Initial Decision of Default as to Cambridge Heart, Inc. The Initial Decision found that the company was issuer of securities registered pursuant to Section 12(g) of the Securities Exchange Act of 1934 (Exchange Act), and the company failed to comply with Section 13(a) of the Exchange Act and Exchange Act Rules 13a-1 and/or 13a-13 by not filing required periodic reports with the Securities and Exchange Commission (SEC). The Initial Decision finds these allegations to be true and revokes the registration of each class of the company’s registered securities, pursuant to Section 12(j) of the Securities Exchange Act of 1934.

SEC Orders Hearings On Registration Suspension Or Revocation Against Cambridge Heart Inc. For Failure To Make Required Periodic Filings

Securities and Exchange Commission (SEC or the commission) instituted public administrative proceeding to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of Cambridge Heart Inc. for failure to make required periodic filings with the Commission. In this Order, the Division of Enforcement (Division) alleges that the company was delinquent in its required periodic filings with the Commission. In this proceeding, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the company to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 there under, are true. The judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of the company should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in this proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceeding.

Cambridge Heart Inc. Announces Executive Changes

Cambridge Heart Inc. announced that Paul McCormick, Jack McGuire and Jeffrey Wiggins resigned from the company's Board of Directors, effective January 31, 2014. McCormick, McGuire and Wiggins did not resign over any disagreement with the company's Board or its management. Effective January 21, 2014, the Board of Directors of the company voted to increase the number of company directors to four and elected Craig R. Jalbert, CIRA, as a director to fill the vacancy resulting from the Board's enlargement. At the same meeting, the Board appointed Mr. Jalbert as President, Secretary and Treasurer of the company for the purpose of assisting with the wind-down of the company's business affairs. Mr. Jalbert, age 52, was retained by the company as a consultant on December 31, 2013 to assist with the transition and wind-down of the company's business affairs.

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