Sign up USA
Proactive Investors - Run By Investors For Investors

VentriPoint Diagnostics shares up as it files patent for new invention, which will reduce cost of VMS- Plus

In a letter to stakeholders, George Adams, the president and chief executive of Ventripoint, highlighted that the device would "reduce the cost of its equipment significantly" ..
VentriPoint Diagnostics shares up as it files patent for new invention, which will reduce cost of VMS- Plus
Ventripoint shares were boosted today on news of its new invention

Heart monitoring group VentriPoint Diagnostics Ltd (CVE:VPT) told investors its technology has just been boosted by a new invention it has made to track ultrasound probes and speed up patient examinations.

It has filed a patent to claim the invention of a small, low-cost device that attaches or is encased in any hand-held probe or ultrasound transducer, which it says will reduce the future cost of its VMS-Plus (heart monitoring device).

It can also be used to track the probe’s position in 3-dimensional space.

A disposable component..

The new approach includes a disposable component, which will be an additional revenue stream for the company, it highlighted, as it will receive revenue from the procedure as well as supplies.

In a letter to stakeholders, George Adams, the president and chief executive of Ventripoint, highlighted that the device would "reduce the cost of its equipment significantly" and allow a “per-use” sales model as the firm will be able to supply multiple machines for the same price and then charge per use.

Examinations will be sped up as trhe firm will no longer be so concerned about patient movement between image captures, he added.

"We are confident we can integrate the new device into the VMS-PLUS and are working on getting it down and tested as quickly as we can.

"The ability to supply equipment essentially for free and then charge every time it is used, eliminates a number of hurdles for hospitals, clinics and doctor’s offices who have a long complicated process to purchase a capital item. 

Reducing the sales cycle...?

"We anticipate this will reduce the sales cycle significantly as well, " wrote Adams.

The company has built a prototype and is now doing further design and testing to rapidly bring the technology to commercial readiness. 

VMS is the first cost-effective and accurate tool for measuring heart function, says the firm.

The Toronto-listed group has developed a suite of applications for all major heart diseases and imaging modalities, including congenital heart disease, left or right heart failure and normal hearts.

Shares added almost 16% in Toronto to C$0.33 each, before fallinmg back later in the session to C$0.33.

View full VPT profile View Profile

VentriPoint Diagnostics Timeline

Related Articles

Frosties Box
December 04 2017
The company is a pioneer in the human microbiome, which is essentially the bacteria that inhabits the gut and skin
couple looking at pregnancy test
November 13 2017
The proceeds from the fundraiser will be used to expand in the People's Republic and will invested in product development
January 08 2018
The device can now be sold to aid in heart treatment throughout the European Union

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright ©, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use