The firm is set to partner Ryerson University on a project to further advance the Al (artificial intelligence) capabilities already imbedded in the heart monitoring VMS+ products after the company revealed it is taking part in a Natural Sciences and Engineering Research Council (NSERC) Engage grant.
"This is very exciting for Ventripoint and the healthcare community at large because it allows us to bring new technology to market that will ultimately improve clinical outcomes and reduce overall cost of care," said Desmond Hirson, president of Ventripoint.
The progress is in keeping with Ventripoint's mission of being a leader in providing medical products that use AI to enhance the productivity, accuracy and consistency of cardiac measurements, it said.
"The benefits of this technology can also be extended to other modalities and imaging technologies, such as MRI and CT, to further expand the use of AI in the field of Medical Imaging."
The firm says its VMS+ device is the first cost-effective and accurate AI tool for measuring whole heart function using conventional ultrasound.
VentriPoint shares added 1.64% to C$0.31.