Ventripoint Diagnostics Ltd.

Toronto, Ontario – TheNewswire - February 05, 2024 - Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Company"), (TSXV:VPT) (OTC:VPTDF) is pleased to announce the appointment of a new Interim CEO and President, Hugh MacNaught, who has been serving on the Ventripoint Board of Directors since 2020 and is a proven leader in biotech commercialization.

As the Company enters its next phase of customer adoption and commercialization of Ventripoint’s groundbreaking AI technology, Mr. MacNaught brings 30 years of experience in developing and commercializing medical technologies. He will be dealing directly with the Company’s partners, as well as potential and current customers, who are now using Ventripoint’s A.I.-powered technology to turn ultrasound images into MRI-quality images of the heart.

The Company wishes to thank Dr. Alvira Macanovic, who has served as Ventripoint’s CEO and President over the last 13 months and has been instrumental in advancing the technology and current partnerships.

“Ventripoint is now poised to focus on driving clinical awareness and adoption of our AI technology by the world’s healthcare providers,” said Mr. MacNaught, Interim CEO and President. “I look forward to bringing this innovation in A.I. health care to hospitals and patients around the world.”

Ventripoint’s patented A.I.-powered technology turns ultrasound scans of the heart into MRI-quality images. The technology allows A.I. heart scans to be taken in minutes, at a fraction of the cost of an MRI, alleviating waiting lines and capital costs in the health care system.

Aside from being an inexpensive alternative, Ventripoint technology is also ideal for use with infants and children who often can’t be given an MRI because of the need for sedation or contrast media as well as the requirement to remain motionless. Also, VMS+ may be a suitable alternative for adult patients with pacemakers since many of these devices are not MRI-compatible.

“I want to thank the entire Ventripoint team, who have spent many years helping us bring our A.I. technology to major hospitals and heart-care teams in Canada, Europe and the United States,” said Ventripoint Board Chair Dr. George Adams. “As Hugh moves into the Interim CEO and President role and continues building new partnerships and sales, the Board will start a search for a permanent CEO and President.”

Added MacNaught: “I’m excited about the months ahead. We expect to launch our next version of Ventripoint’s A.I. heart-imaging technology in the spring, following FDA clearance. This next version is even simpler to use and integrates easily into the diagnostic workflow of hospitals and clinics.”

MacNaught is a seasoned entrepreneur with over 30 years of experience founding, building, and managing medical product companies. His career includes roles within multinational corporations including Nordion Healthcare Solutions LLC (Atomic Energy of Canada Limited), Eastman Kodak Company, Boehringer Mannheim GmbH (Roche), and Philips Corporate Technologies, and the venture capital industry.  A serial entrepreneur, he has founded, financed and led several ventures and is a mentor in the entrepreneurship programs at Simon Fraser University and the University of British Columbia. He brings direct experience with diagnostics and medical AI technologies and looks forward to leveraging his broad commercial experience and leadership in the medical technology sector to drive growth for the Company.


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 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.

For further information, please contact:

Jonathan Robinson CFA


(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.

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 Company. Although the Company 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 Company 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 several factors and risks. Factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis that is available on the Company'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 Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether because of new information, future events or otherwise, unless so required by applicable securities laws.


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