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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.

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