Ventripoint Announces Expansion of Collaboration with ASCEND Cardiovascular, a Leading Provider of Cardiovascular IT Solutions Across North America
Toronto, Ontario – The Newswire – July 10, 2024 – Ventripoint Diagnostics Ltd. (“Ventripoint” or the “Company“), (TSXV:VPT; OTC:VPTDF) is pleased to announce Ventripoint and ASCEND Cardiovascular, LLC a leading provider of cardiovascular IT solutions, have renewed and expanded the scope of their letter of intent. The two companies are collaborating in joint research and development initiatives, knowledge sharing, and combining efforts to bring innovative AI-based solutions to the market.
ASCEND Cardiovascular has over two decades of experience in cardiovascular IT and is an expert in cardiology workflow. 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 pediatric and adult echocardiographers in the care of their most complex patients.”
ASCEND intends to resell Ventripoint products developed through this partnership and integrated with ASCEND’s Gen3EchoTM platform. The collaboration between Ventripoint and ASCEND leverages synergies between ASCEND and Ventripoint to enhance cardiovascular diagnostics and improve patient care. The objective of the relationship is to develop and integrate solutions to improve diagnostic accuracy, streamline workflows, and enhance patient experience in cardiovascular imaging.
“Under the initial LOI we were able to successfully demonstrate integration of VMS+ with ASCEND’s Gen3EchoTM for 3D echo, and have achieved progress on integrating VMS+ with ASCEND’s Catalyst IoT solution,” said Hugh MacNaught, President & CEO of Ventripoint. “In 2024 our sales teams have established regular meetings and have identified key accounts to which joint calls will be made. Considerable improvements have been made to VMS+ and we are increasingly aware of the importance of integration within routine clinical workflow. Our collaboration with ASCEND Cardiovascular will enable us to better address this challenge. During the next twelve months we anticipate broadening the collaboration to include reference sites and 2D echo.”
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:
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 a number of 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.sedar.com. 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 as a result of new information, future events or otherwise, unless so required by applicable securities laws.
