(TheNewswire)
 | |||||||||
 |  |  |  |  | |||||
Toronto, Ontario – TheNewswire - December 18, 2024 - Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Company"), (TSXV:VPT; OTCQB:VPTDF) is pleased to announce Ventripoint and ASCEND Cardiovascular, a leading provider of cardiovascular IT solutions, have signed a term sheet defining the general terms and conditions for a non-exclusive license to Ventripoint’s VMS+ proprietary technology. The two parties expect to execute the license agreement within 30 days.
ASCEND Cardiovascular has over two decades of experience in cardiovascular IT and is leader in cardiology workflow solutions. ASCEND’s clinical reporting, device interfaces, and analytics are used daily by some of the top institutions and hospital systems in North America. ASCEND has introduced Gen3EchoTM, a first of a kind, comprehensive platform that combines Artificial Intelligence and Machine Learning technology to accelerate, simplify and automate echo workflow.
"ASCEND is on a mission to provide a powerful, fully integrated, best-of-breed echocardiography workflow solution to its customers,” stated Dr. Jeff Soble, CEO of ASCEND Cardiovascular. “Integration of Gen3EchoTM with Ventripoint's innovative solution for 3D visualization, and in particular their unique ability to synthesize 3D images from 2D echo data, will provide tremendous value to paediatric and adult echocardiographers in the care of their most complex patients."
ASCEND intends to fully integration Ventripoint’s VMS+ technology with ASCEND’s Gen3EchoTM platform. This agreement is the next natural step for ASCEND and Ventripoint as they both move to enhance cardiovascular diagnostics and improve patient care. The objective of this agreement is to fully align VMS+ with Gen3EchoTM workflow to improve diagnostic accuracy, streamline workflows, and enhance patient experience in cardiovascular imaging.
“Under the existing letter of intent, we demonstrated the attractiveness of the combined Gen3EchoTM and VMS+ offering,” said Hugh MacNaught, President & CEO of Ventripoint. “This licensing agreement takes us to a deeper level of integration, offering customers a seamless experience leveraging both best-in-class solutions. Our teams continue to work closely together to fully integrate our VMS+ technology into ASCEND’s Gen3EchoTM platform. We will work with ASCEND on commercialization of this new initiative, beginning with a combined outreach to paediatric centres.”
Ventripoint and ASCEND have highly complementary technologies and capabilities within the field of cardiovascular imaging. ASCEND possesses clinical and industry knowledge, proprietary structured reporting, and its zero-footprint DICOM viewer honed for echo automation and advance analysis. Ventripoint provides proprietary AI-based diagnostic technologies, research capabilities, and technical expertise in cardiovascular imaging and analysis. The combination of the unique expertise and resources of both companies enable novel solutions that address existing challenges within clinical practice.
About Ventripoint Diagnostics Ltd.
Ventripoint is an industry leader in the application of AI (Artificial Intelligence) to echocardiography. Ventripoint's VMS+ products are powered by its proprietary Knowledge Based Reconstruction technology, which is the result of a decade of development and provides accurate volumetric cardiac measurements with cMRI levels of accuracy. This affordable, gold-standard alternative allows cardiologists greater confidence in the management of their patients. 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:
Hugh MacNaught
President and CEO
hmacnaught@ventripoint.com
(604) 671-4201
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.
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends'' and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Corporation. Although the Corporation believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Corporation can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors which could materially affect such forward-looking information are described in the risk factors in the Corporation's most recent annual management's discussion and analysis that is available on the Corporation's profile on SEDAR+ at www.sedarplus.ca. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Copyright (c) 2024 TheNewswire - All rights reserved.
