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ASCEND Cardiovascular to Market and Distribute Ventripoint's AI-powered Heart-Scanning Technology to North American Hospitals and Clinics
V.VPT | 1 day ago
(TheNewswire)
Ventripoint Diagnostics Ltd.
Highlights of agreement
ASCEND’s IT software is used by 50,000 hospitals, clinics, and caregivers.
Initial two-year term for North American markets.
Ventripoint will be integrated into ASCEND’s IT for cardiovascular care.
Toronto, Ontario – TheNewswire - December 12, 2023 - Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Company"), (TSXV:VPT)(OTC:VPTDF), now bringing its AI-powered heart-scanning technology to the world’s hospitals, is pleased to announce it has entered into a global distribution and marketing agreement with ASCEND Cardiovascular (“ASCEND”).
ASCEND Cardiovascular is a leader in offering cutting-edge diagnostic, and imaging technologies and workflows to improve cardiac health care. ASCEND is trusted by AGFA Healthcare, Sectra, Oracle/ Cerner, and other major players in the healthcare system. Its technology stack has been integrated into the workflows of 1,000+ top-ranked healthcare facilities and 600+ health systems, representing a user base of 50,000 who serve millions of heart patients.
ASCEND will market and distribute Ventripoint’s AI-powered heart-scanning technology, which turns ultrasound images of the heart into MRI-quality heart images. Using AI, and the images from existing ultrasound systems of any brand, Ventripoint creates these MRI-quality heart images at a fraction of the cost and time needed for more traditional heart MRIs. “After many years of careful research and development, and rigorous in-hospital testing, Ventripoint’s heart-imaging technology with ASCEND’s proven support is ready for the world’s hospitals and heart patients,” said Dr. Alvira Macanovic, President & CEO of Ventripoint. “With this ASCEND partnership I am encouraged we will win the confidence of hospitals and cardiologists across North America and beyond.”
“We are looking forward to the partnership between Ventripoint Diagnostics and ASCEND Cardiovascular. Our aim is that by working together, we can ultimately provide reliable and effective tools for clinicians on a global scale,” stated Jeffrey Soble, MD, ASCEND’s President and CEO.
The global distribution agreement has an initial two-year term, with ASCEND as the official reseller. ASCEND will market and sell the Ventripoint VMS+ system as part of its inclusive solution, as well as integration with ASCEND’s cardiovascular IT platform.
Ventripoint will be providing support and training to ASCEND on the use and capabilities of the VMS+ during the term of the agreement. The collaboration between Ventripoint and ASCEND will reduce time to market and overall effort to provide new software solutions to the market.
“Combining these two products creates an end-to-end solution rivaling the best technology offered on the market, said Dr. Macanovic. “Our partnership includes joint research and development initiatives to optimize current technologies and exploratory projects to identify new treatment possibilities, reduce waiting times, and ensure a cost-effective addition to the heart healthcare system.”
Ventripoint, now commercializing its technology, has won accolades from leading hospitals, and the British Heart Foundation and has drawn international media attention. As the relationship between Ventripoint and ASCEND Cardiovascular continues to evolve, both companies remain committed to driving innovation and excellence in cardiovascular health technology.
About Ventripoint Diagnostics Ltd.
Ventripoint has become an industry leader in the application of AI (Artificial Intelligence) to echocardiography. Ventripoint's VMS products are powered by its proprietary KBR technology, which is the result of a decade of development and provides accurate volumetric cardiac measurements equivalent to MRI. This affordable, gold-standard alternative allows cardiologists greater confidence in the management of their patients. Providing better care to patients serves as a springboard and basic standard for all of Ventripoint's products that guide our future developments. In addition, VMS+ is versatile and can be used with all ultrasound systems from any vendor supported by regulatory market approvals in the U.S., Europe, and Canada. Learn more: www.ventripoint.com.
About ASCEND Cardiovascular
ASCEND Cardiovascular is a leader in innovating cardiovascular solutions that empower the provider community to improve cardiovascular care. Designed with openness in mind, our solutions integrate with EHRs, medical devices, and other systems to deliver seamless workflows that span procedure types and modalities. A complete cardiovascular solution, ASCEND provides structured reporting, image visualization, collaboration, and analytics that improve efficiency, outcomes, and ROI. With decades of experience and a practicing cardiologist at our helm, the ASCEND team brings unparalleled “know how” in cardiology workflow, collaboration, and IT offering limitless opportunities to improve clinical, operational, and quality performance. Learn more: www.ascendcv.com.
For further information, please contact:
Jonathan Robinson CFA
JRobinson@oakhillfinancial.ca
(416) 669-1001
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
LOOKS good volume nothing and green
We’re back to fifty
Fifty cents week now
PPS high over 49 cents today !
Fifty cents soon guaranteed !!
Fifty cents this week !!!!!!
Back to forty soon
Replaces MRI would be doctors buying this stock
More green fifty cents soon
Price moving green just slow dollar coming
I am very impressed with what Adams has done with this company. If Covid hadn't hit, this stock might have been close to a dollar by now. Here is a zoom interview/update that is very informative:
Well, they are trading again. Not much excitement though. Put in a low bid but didn't get filled. Pretty good volume at 730k.
More News with attachments probably on the website: https://www.ventripoint.com
Dear Friend;
It has been a long time coming but we are back! or almost there as you will read in the attached news release. Here is some background:
1. The Company asked to have its stock halted December 12, 2019 - we were NOT suspended by the Exchange.
2. We received approval to stay halted until we completed the $1,220,000 private placement, which we did last Friday. No one expected it to take so long but COVID-19 disrupted everyone’s plans.
3. The Company actually benefited overall from the pandemic, which you will read about, but briefly we had more access to cardiologist and received a lot of government support (like many other companies). This allowed us to make major changes to almost every aspect of the VMS+3.0 to lower the barrier to adoption, reduce manufacturing costs, accelerate analysis and rewrite the entire source code. The key initiatives attachment is a long read (5 pages), but worth the time.
4. The major advantage of all this work is we no longer have to go to a hospital to install the machine, calibrate the probes and train the staff. It is all done remotely now. You will read about all the advantages this approach has created for us and our customers.
5. The hospitals, while focused on COVID, did continue in their processes to acquire a VMS+3.0 and so we have 11 major hospitals ready to acquire a system as soon as they re-open their echo labs. This is starting to happen as hospitals have to start dealing with regular cardiac patients.
6. We now know COVID wrecks havoc with the heart, especially the right side, and so cardiologists are very interested in our capabilities as they fear the heart problems induced by COVID could go on for decades.
7. Lots more news to come and lots more information on what we have been doing and why it is important on our revamped website and in the addendum..
8. We are in the final stages of the TSXV Exchange review to allow us to resume trading and so I expect that will happen very soon.
I am very thankful for all the people who encouraged me to keep going. It has not been a lot of fun, but we are in a very good place right now - a way ahead of where we were before we restructured. Our team has done remarkable things in the last 9 months and the responses we are seeing from cardiologists are reflecting that we have finally gotten through all the barriers to adoption with a device that is user-friendly and fits perfectly into the workflow of an echocardiography lab. I look forward to telling you all about the wonderful effects doctors with the VMS+3.0 are having on their patients, as well as how well the company is progressing to build value for its shareholders.
As usual, I thank you for your support and interest and if you have any questions or comments, email, text, call.
Regards,
Dr. George Adams ICD.D
Executive-Chairman
Ventripoint Diagnostics Ltd.
Ok It are 6 mio extra shares as warrants
But it could be much much more
The announcement will tell us a lot
If really good we could go to 0.4
If fluff we stay at 0.05
Yes, I've been on an email list from Adams. There was a PR attached to the email. It is probably at their website. I'm kinda concerned about the convertible debentures that made up this $1.22M offering. Toxic financing?? It's explained in the PR but it is greek to me.
Did you get that letter of him?
Great
Looking forward to the PR before trading resumes
Here is the email I received just now:
Attached is the news release for today documenting we have closed the second tranche of $495,000 of the private placement to complete the round (which we announced many months ago) with total gross proceeds of $1,220,000.
Here is some background:
1. The Company halted trading and ceased operations in December 2019 to restructure with a new Board and the return of Dr. Adams as acting CEO.
2. The Company closed a first tranche of the $1,220,000 financing February 9 ,2020 with proceeds of $725,000 and resumed operations with all key employees returning to work.
3. In March 2020, COVID-19 pandemic reached Canada and Company ceased manufacturing and fulfillment of orders to hospitals as hospitals were focused on COVID-19 operations.
4. The Company has been focused on eliminating barriers to adoption and enabling remote installation and training.
5. As of Sept 11, 2020 the Company has closed its financing with the remaining $495,000 of proceeds and now has the funds to fulfill its existing and forthcoming purchase orders (more about this in next NR).
6. The Company is in a “Resumption Review” with the TSXV Exchange and expects to be trading in the next few days and will provide a comprehensive corporate update prior to the resumption of trading.
As usual, if you have questions call me.
Regards,
Dr. George Adams ICD.D
Executive-Chairman
Ventripoint Diagnostics Ltd.
Depending on the opening price it would advise you
To enter as soon as possible after opening... if partnership
With a big one is announced!
Like Adams said, there are shareholders who want to get out, too. I'm curious as to what price the MMs will open trading at. Looks like the last trade was around a penny. I just found this company so I have no shares. Naturally I'd like to see it open as low as possible in order to get a good starter position. I think a partnership with a biggie is one of the announcements coming. Also, maybe an equipment upgrade or improvement. This is very similar to Lexagene, a medical device company, just starting commercialization. Even the price point of $50,000 is the same before discounts.
Yes indeed
The video is impressive
You noticed following
George Adams expect a wild day (first trading day) like 3 years ago when it went from
0.10 to 0.9
Tony mentionned that several announcements will be made before trading
Will be resumed
What s your guess on news?
News on study on COVID
More sales
Partnership with us / European big company
Sp could go crazy depending on news (0.20-0.50)
I have 400k shares at 0.25 average
This company has turned itself around and is about ready to rock! They've already had installs in several locations. Here is an up-to-date video with Dr. Adams filmed on Sept. 9, 2020. Any day now, maybe Monday, it will start trading again.
Doesn't look good for the company. Here is their last press release: Toronto, Ontario, December 19, 2019 – Ventripoint Diagnostics Ltd. (“Ventripoint” or the “Company”, TSXV:VPT, OTCQB:VPTDF) wishes to clarify the news release of December 17, 2019.
The Company is not in receivership and it has not made an assignment under the Bankruptcy and Insolvency Act. The Company is organizing a private placement and expects to resume normal operations in the new year."
That, of course, was 8 months ago so they may be in bankruptcy by now. The 12/17/19 release describes their funding plan which must not have happened. Getting involved with China is BAD news especially when you have no money to defend your property. I will try to contact Adams and see if there is anything salvageable with this stock.
Sales pitches are demoed online now.
Trading might be another month off until the final financing close occurs, but at least the company has started work again.
Financing is progressing.
VPTDF Tier Change = OTCQB to Grey Market
"I love trading halts because there is no news yet but I get to read the made up news of feeble minded posts from those who have persecution complex. It is so much fun watching them huddle together dependent on their fellow like-minded simpletons to pool their paranoid imaginations, discussing why they were born under a bad sign and someone has manipulated the sp downwards. etc."
Read more at https://stockhouse.com/companies/bullboard?symbol=v.vpt&postid=30447817#jvmMrTmytCxlClQq.99
This Ventripoint video has never worked and stockdaymedia does not answer phone calls about it
https://stockdaymedia.com/news/radio-interviews/ventripoint-diagnostics-joins-everett-jolly-on-the-stock-day-podcast-vptdf-november-25-2019/
I was wondering if they’ll keep disclosing each sale or they’ll just put a nr when it’s a huge order. New CEO might change how they disclose them
Hopefully we get sales in the next week, since they have been to Europe a month ago.
New video.
Thank you teq0904 for your thoughts on that!
Dear Friend;
As I wrote yesterday the FDA clearance (their word for approval) could come any day and it came late yesterday. Here is the news release and some background:
1. The US market is one of the largest single markets for medical devices in the world. We estimate that it would take 16,000 VMS+3.0 to deal with all the patients who get echocardiograms per year. This number is growing at 7% per year (1,000 system per year more each year) with an expectation of 25M people over 65 years by 2030.
2. We are now approved to market the VMS+3.0 so we can contact several major centres who have indicated they wanted to know as soon as the VMS+3.0 was clearance for clinical use.
3. The label remains the same that the VMS+3.0 can be used on "any patient where the results are warrants or desired”, which means all the attending doctor only needs is to desire the analysis be done to help with the diagnosis or monitoring.
4. I remind you the VMS+3.0 is a portable device which can be added to any existing 2D ultrasound machine (GE, Phillips, Siemens, Toshiba, Samsung, Mindray…) and be operational in a few minutes. It now allows for patient movement during the exam and has a continuous user guide for the exam as well as the analysis. These features have made it very user friendly.
5. In addition, it is inexpensive to manufacture, which will allow us to offer it as “razor-razor blade” or per use sale to accelerate adoption.
6. FDA clearance helps us worldwide as everyone knows how difficult it is to get FDA approval.
7. This is a major milestone for the company, which has been a long time coming, but has finally arrived. The company is undervalued at $6M market cap. If we were a pharmaceutical company with a FDA-approved orphan drug for a $1B market we would be trading at 10-20 times this market cap. The news today should tell people we are a company with a large market opportunity.
There is nothing to hold up sales if he gets more marketing companies involved, and lots of studies have been done showing it helps diagnosis for different heart issues so hospitals should have keen interest as more of them purchase it and testify at conferences that it is great.
More studies are planned which will prove its use for other applications too.
Hi, thanks for all of the posts. Good news today on approval. Investors in US don't seem to know about this company yet.
I read in an older post that some aspects of the tech will take years for meaningful sales. Just getting into looking at this - may I ask your take on sales growth short term and long term?
Dear Friend;
Attached is the news release from today. Here is some background:
1. We have installed three VMS+3.0 systems in Western Canada - two in paediatric centres and one in an adult cardiac centre. They are being used clinically on patients, as well as for research to expand its applications. The customers report they are very pleased with the ease of use and analytical results. This is great to hear as we worked very hard to improve the usability of the VMS+3.0.
2. St. Michale's Hospital will be the fourth major cardiac centre to get a VMS+3.0 as it is built passed QC and we can walk it over to them any day now. In addition, the ultrasound technologist there has been helping us with improving the usability and so is fully trained already. They can use it as soon as we can get the IT folks to let us install it. The IT folks at hospitals are always busy and so usually the limiting factor in scheduling an install. We have worked with them before so it should be very soon.
3. We have two more VMS+3.0 systems built and ready to be installed in Eastern Canada - one in a paediatric hospital and one in an adult hospital. We are also expecting an order from another adult cardiac centre.
4. Our sales team was in Europe last week and did many demos. We expect orders from these centres soon, as well.
5. We continue to wait for the FDA response to our submission. Could be any day now.