Ventripoint Provides Corporate Update on Sales and Marketing
Toronto, Ontario, August 1, 2018 – Ventripoint Diagnostics Ltd. (“Ventripoint” or the “Company”, TSXV:VPT) is pleased to present an update on its progress to provide better tools for cardiac analysis to cardiologists to improve diagnosis and treatment of heart disease.
Completed and Pending Installations of the VMS+ Whole-Heart Analysis System
The Company has installed the first VMS+ in Edmonton at the University of Alberta Mazankowski Alberta Heart Institute, where it is being used with oncology patients, who require contrast-enhanced ultrasound imaging. It is also being employed on women with normal and high-risk pregnancies.
About the Mazankowski Alberta Heart Institute (Mazankowski)
Mazankowski is the advanced cardiac care center for Edmonton, Northern and North-Central Alberta, Northern BC, Saskatchewan, Manitoba, Yukon and Northwest Territories. Located on the Walter C. Mackenzie Health Sciences Centre Campus in Edmonton, Mazankowski is physically integrated with the University of Alberta and Stollery Children’s Hospitals, making it one of the very few heart institutes to accommodate both adult and pediatric patients. The Mazankowski has one of the most technologically advanced Echo Labs in the world providing leading-edge imaging techniques such as 3D, contrast, myocardial perfusion, speckle tracking and interventional echo.
A second machine will be installed at MD Anderson Hospital in a few weeks and will be used for routine clinical assessment of oncology patients to determine cardiac changes during and after treatments.
About MD Anderson Cancer Center
MD Anderson has been one of the top two cancer centers in the USA for decades. It receives the highest number of research grants from the National Cancer Institute and is the recognized leader in the diagnosis and treatment of cancer. The hospital sees approximately 1.5 million patients a year and performed 575,000 imaging exams in 2017.
The Company has 5 pending sales where the cardiology department has an approved budget to purchase the VMS+ and the Company is awaiting a purchase order. Each of these new users are recognized leaders in cardiac care and will be using the VMS+ for routine applications as well as research into expanding the application of the VMS+ to inform the best treatment path to be taken for each patient.
Ongoing Marketing Efforts
The Company exhibited at the Annual Canadian Society of Echocardiography Weekend from April 12-14, 2018 in Toronto, and the American Society for Echocardiography annual conference, June 22-26, 2018 in Nashville, Tennessee, and identified a number of potential customers. The conferences had a combined attendance of 3,000 attendees from almost 50 countries. The sales team is following up with these contacts and reaching out to 300 clinical centers, which have a profile of patients where the VMS+ would provide significant benefits to their cardiac service. Capital purchases require a long process for budget approval, as well as signoff by a number of hospital departments, such as bioengineering and IT, before a purchase order is generated.
Annual General Meeting
The Company will hold its Annual General Meeting on August 13th at its corporate offices in Toronto. More details are included in the circular, which has been mailed to shareholders of record.
About Ventripoint Diagnostics Ltd.
Ventripoint’s technology is a leading Artificial Intelligence (AI) approach known as Knowledge-Based Reconstruction (KBR), used to create applications to monitor heart disease, a leading cause of death worldwide. The VMS+ is the first cost-effective and accurate AI tool for measuring whole heart function using conventional ultrasound. The Company has developed a suite of applications for all major heart diseases and is actively commercializing the approach to improve cardiac care.
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FORWARD-LOOKING STATEMENTS: The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address Ventripoint’s expectations, should be considered forward-looking statements. Such statements are based on management’s exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect a current view of future events and are subject to certain risks and uncertainties as contained in the Corporation's filings with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results could differ materially from those anticipated in these forward-looking statements. The Corporation undertakes no obligation, and does not intend, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events. Although management believes that expectations are based on reasonable assumptions, no assurance can be given that these expectations will materialize.