- Develops and markets a suite of medical products with the aim of treating heart disease
- The Ventripoint Medical System (VMS) is a device that measures the function of all four chambers of the heart
- VMS generates accurate heart volumetric measurements and a three-dimensional model rapidly and cost-effectively
What Ventripoint Diagnostics does:
Ventripoint Diagnostics Ltd. (CVE:VPT) (OTCMKTS:VPTDF) is developing a suite of medical products with the aim of treating heart disease, a major cause of death in countries around the world.
The Toronto-based medical device company develops and commercializes diagnostic tools to monitor patients with the killer disease.
The main tool in its arsenal is the Ventripoint Medical System (VMS), a device that measures the function of all four chambers of the heart.
Approximately 50% of patients with heart failure have dysfunctional right hearts which go undetected and untreated, leading to repeat hospitalizations. The VMS is designed to reduce healthcare costs while improving quality of life in patients with heart disease.
The company believes there is a multi-billion-dollar market potential in developing a suite of applications for all major heart diseases and imaging modalities.
So far, the VMS is the only approved way to generate substantially equivalent results to the gold-standard MRI for right ventricular volumes using two-dimensional echocardiography.
By using images produced from existing medical imaging systems, the VMS generates accurate heart volumetric measurements and a three-dimensional model rapidly and cost-effectively.
The VMS uses images produced from existing medical imaging systems to allow healthcare professionals to obtain accurate three-dimensional models with critical volume and functional measurements of a patient’s heart chambers in only a few minutes more than the time needed for a routine echocardiogram.
Measuring volume and function is fundamental in evaluating patients to determine the severity and progression of their disease, assess the effectiveness of treatment, gauge prognosis and decide on the timing of surgical and pharmacological interventions.
Together with the three-dimensional visual model, these images provide medical professionals with some of the critical information necessary for clinical diagnosis and monitoring of their patients.
How it is doing:
In June, the company hit a milestone with the announcement that it had received a license from Health Canada to market the VMS+ 3.0 cardiac system for all patients where the Left Ventricle, Right Ventricle, Left Atrium, and Right Atrium volumes and ejection fractions are warranted or desired.
Currently there are three children’s hospitals and five cardiac institutions in Canada who have ordered the machine.
One of the first institutions to sign on was a children’s hospital in Western Canada, which has become the first hospital to use the VMS+ 3.0 software-only solution for the clinical assessment of pediatric cardiac patients using 3D ultrasound.
The news follows an earlier announcement that two leading Canadian heart institutes ordered a VMS+ 3.0 complete heart analysis system to assess adult cardiac patients.
Over the summer, Ventripoint received its European approval to market the system on the continent.
Ventripoint recently announced plans to raise C$2 million to fund its marketing efforts.
The near-term outlook is all about sales of VMS+ 3.0.
In Europe, where the unit received approval recently, the company is concentrating its efforts on marketing VMS+ 3.0 to hospitals throughout the region.
The software and system are pending pre-market 510(k) clearance by the Food and Drug Administration in the US.
What the boss says:
Ventripoint's CEO Dr George Adams calls the new VMS unit a “breakthrough” in terms of size and ease of use.
“It’s now a small, portable machine you can take anywhere, and it guides you through the process,” Adams told Proactive, “but it still has all of the other artificial intelligence-based analysis of all four chambers of the heart.”
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