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Wednesday, 06/26/2019 9:29:11 AM

Wednesday, June 26, 2019 9:29:11 AM

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Update on HC approval. Mazankowski Hospital study due any day now, and we know that it is going to be positive since they presented at the VPT booth on the weekend.

Attached is a news release announcing the Health Canada approval for the next-generation VMS+3.0. Here is some background:

1. We started to develop the VMS+3.0 18 months ago as soon as the VMS+ was approved based upon the upgrades doctors, sonographers and patients requested.
2. The first step was to invent a completely new tracking system, which we have now filed a patent on and allows for patient movement during the scanning and collection of 2D images. Even though the exam is only 2-3 minuets, patients still found it difficult to remain motionless. Sonographers were also challenged in getting some of the views without repositioning the patient. This is a major upgrade to the usability the system.
3. We also included a step-by-step guide into the exam procedure to allow sonographers to be sure they acquired all the necessary views. This guide also has the recommended location for the anatomical landmarks for the analysis of the views and so again the doctor knows exactly what is required in each view.
4. As we reported earlier, the human factors study showed 100% of clinicians were able to be quickly trained and remembered how to use this new guided process. This will greatly improve the consistency of the results, which up until now were so variable that doctors do not even look back at the previous echocardiogram. They have told us many times, it would be great to be able to compare exams over time.
5. From business perspective, the VMS+3.0 is much cheaper and easier to manufacture. As announced we will be assembling it in house and therefore have cancelled the contract manufacturers for the VMS+.
6. More importantly, the VMS+3.0 is much smaller and so is portable. Our sale people can take it with them on all sales calls, set it up in minutes and allow potential customers to use it at their sites immediately. We will be doing these in Canada starting next week now that we have approval.
7. We also have hospitals and cardiac clinics in Canada waiting to submit the paperwork to acquire the VMS+3.0 and we have already notified them we can now supply the VMS+3.0 immediately. We will be announcing these installations as they happen.
8. Overall, the VMS+3.0 is smaller, easier to use, allows patient movement and promotes consistency. This is the tool everyone has been asking for and we look forward to demonstrating it to cardiac centres in Canada.