Ventripoint Provides Update on Growth Initiatives and Sales
Toronto, Ontario - The Newswire - September 14, 2021 - Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Company"), (TSXV:VPT) (OTC:VPTDF) has provided an update on recent milestones including sales, marketing, COVID-19-related developments and market outreach.
Ventripoint Overview: A Revolutionary Way to View and Analyze the Heart
Ventripoint is an industry leader in the application of ultrasound AI (Artificial Intelligence) for heart imaging. The company’s VMS+ 3.0 technology offers a proven, patented, non-invasive AI solution for 3D visualization of all four chambers of the heart, providing a pivotal new diagnostic tool for aiding cardiologists to combat cardiovascular disease and sustain heart health in both adults and children. VMS+ 3.0 delivers a faster, more precise and economical way to view and analyze the heart, providing results equivalent to more expensive and time-consuming MRI. These advantages also allow for faster, more-frequent monitoring of patients.
The VMS™ Technology
VMS+ (Ventripoint Medical System Plus) + 3.0 marries the high-resolution of cardiac MRI (Magnetic Resonance Imaging) and the ease of ultrasound with the power of Ventripoint's proprietary KBR (Knowledge-Based Reconstruction) AI technology. KBR enables physicians to construct a precise 3D model of the heart and calculate volumes and ejection fractions for all chambers of the heart with an accuracy comparable to MRI.
Collaboration with General Electric Healthcare Corporation
Ventripoint and General Electric Healthcare Corporation (GEHC) have made significant progress in their collaboration. This initiative is part of GEHC’s Edison Developer Program, a rich set of healthcare services to improve operational and clinical outcomes and deploy applications across GEHC’s massive customer base.
Expanding Product Distribution in Europe and North America
Ventripoint is finalizing agreements with distributors of cardiac medical devices for sales in the United Kingdom (UK) and for the USA markets and is in final discussions with a German distributor for Germany and other parts of Europe. The Company continues to interview additional potential European distribution partners. Ventripoint is also hiring a consulting company to screen additional North American candidates. The Company expects to announce final agreements with these partners in the near term.
Direct Sales Initiatives
Ventripoint is in dialogue with major cardiovascular centres in the United States, Canada, UK and Europe to expand sales of VMS+3.0 units. The Company currently holds or is finalizing purchase orders with 11 hospitals: five in the USA, three in Canada, two in the UK and one in Europe. We expect to install these units before year-end, but this target depends on the containment of the COVID-19 pandemic which continues to hamper sales and installations. The Company will announce these sales when completed. Nineteen systems have been installed to date worldwide, with a calendar year-end target of 25 to 30 units.
Current and Future Effects of COVID-19 Pandemic on Healthcare
Many people who contract COVID-19, even if asymptomatic, have resulting and sometimes acute heart problems. A cardiology study in the Journal of American Medicine (JAMA) used cardiac MRIs on 100 people who had recovered from COVID-19 and found abnormalities in the hearts of 78% recovered patients and "ongoing myocardial inflammation" in 60%.
The current understanding is COVID-19 infection exacerbates underlying cardiovascular disease and likely contributes to the increased death rate from cardiovascular causes during the pandemic, even for asymptomatic individuals. This widespread impact on heart health makes the VMS+3.0 unit even more timely and valuable, as a massive increase in the number of patients requiring regular heart monitoring is expected.
Even before COVID-19 hit, the medical industry suffered from a shortage of ultrasound technicians (sonographers) and imaging facilities. With significantly more patients as a result of C0VID-19, VMS+3.0 offers a solution for the significant need for more heart monitoring and diagnosis.
Heart Damage and Long-Haul COVID-19
A major consequence of COVID-19 infection, even for people with minimal symptoms, is heart damage. A recent editorial in the New England Journal of Medicine (NEJM) described the result of the COVID-19 pandemic in terms of patients with chronic symptoms, known as the “long-haul COVID-19,” as the “Next National Health Disaster.” The authors estimated 15 million Americans would need special monitoring and care for decades once the epidemic was finished.
The Company is participating in the development of studies of COVID-19 patients in the UK, United States, and Canada for both acute care and monitoring of long-haulers.
A corporate update on ongoing clinical studies to show how the VMS+3.0 is changing cardiac diagnostics will be released later this week.
Marketing Outreach and OTCQX Up-listing
During the last quarter, Ventripoint has engaged digital marketing firms to assist in telling the Company’s story globally. This initiative is ramping up through the fall, as the Company has also applied to elevate its trading status on the OTC to the premier OTCQX market whereby online investors will have easy access to trading through their own local accounts. In addition, this status should broaden exposure on many different online platforms. The Company has also engaged specialty groups in Europe and abroad to assist in this process. As our sales and distribution expands, so will our outreach. With many important announcements expected this fall and winter, our objective is to reach an expanding global audience of investors.
For further information, please contact:
Mr. Peter Weichler
Mr. Jonathan Robinson
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends'' and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis that is available on the Company's profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.