STAMFORD, Conn., Sept. 29 /PRNewswire/ -- Zargis Medical Corp., a majority-owned subsidiary of Speedus Corp. (Nasdaq: SPDE) and a spin-off from Siemens Corporate Research (NYSE: SI) today announced that it received a contract from the U.S. Army totaling $224,000.

This contract will allow Zargis to develop an investigational device based on the success of the Signal-X6(TM) telemedicine systems which Zargis delivered to the Army earlier this month. This new prototype system will be ruggedized for field-use and allow the Army to examine the benefits of remote patient analysis and monitoring of up to 12 simultaneously recorded heart and lung sounds.

This contract also funds completion of the second phase of development for an Internet case-based learning system. Zargis began developing this medical education platform for the Army in 2008 and it is currently used by medical residents at a U.S. Army teaching hospital. After completion of the second phase of this project next fall, Zargis will offer this innovative software platform to military and nonmilitary teaching facilities throughout the world.

"We are very encouraged by the continued expansion of our development efforts with the U.S. Army", said John Kallassy, Zargis' CEO. "This new contract is a testament to our prior successes working with the Army to develop innovative solutions in the fields of remote medical monitoring systems and medical education."

About Zargis Medical Corp.

Zargis Medical Corp. develops advanced diagnostic decision support products and services for primary care physicians, pediatricians, cardiologists and other healthcare professionals. Zargis was formed in 2001 when Siemens Corporate Research, a division of Siemens AG (NYSE: SI), and Speedus Corp. (Nasdaq: SPDE) co-invested to develop and market an advanced acoustic technology designed to detect heart abnormalities identified through analysis of heart sounds.

For additional information about Zargis or Speedus Corp., contact Peter Hodge at 888.773.3669 (ext. 23) or phodge@zargis.com, or visit the following Web sites: www.zargis.com and www.speedus.com.

Statements contained herein that are not historical facts, including but not limited to statements about the Company's product, corporate identity and focus, may be forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, the continuing development of the Company's sales, marketing and support efforts.

SOURCE Zargis Medical Corp.