VENTRIPOINT and ASCEND Cardiovascular sign Term Sheet for integration of VMS+ into ASCEND's Gen3Echo(TM) platform
(TheNewswire)
Toronto, Ontario – TheNewswire - December 18, 2024 -Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Company"),(TSXV:VPT; OTCQB:VPTDF) is pleased to announce Ventripoint and ASCENDCardiovascular, a leading provider of cardiovascular IT solutions,have signed a term sheet defining the general terms and conditions fora non-exclusive license to Ventripoint’s VMS+ proprietarytechnology. The two parties expect to execute the license agreementwithin 30 days.
ASCEND Cardiovascular has over two decades ofexperience in cardiovascular IT and is leader in cardiology workflowsolutions. ASCEND’s clinical reporting, device interfaces, andanalytics are used daily by some of the top institutions and hospitalsystems in North America. ASCEND has introduced Gen3EchoTM, a first of akind, comprehensive platform that combines Artificial Intelligence andMachine Learning technology to accelerate, simplify and automate echoworkflow.
"ASCEND is on a mission to provide a powerful,fully integrated, best-of-breed echocardiography workflow solution toits customers,” stated Dr. Jeff Soble, CEO of ASCEND Cardiovascular.“Integration of Gen3EchoTM with Ventripoint's innovative solution for3D visualization, and in particular their unique ability to synthesize3D images from 2D echo data, will provide tremendous value topaediatric and adult echocardiographers in the care of their mostcomplex patients."
ASCEND intends to fully integration Ventripoint’sVMS+ technology with ASCEND’s Gen3EchoTM platform. Thisagreement is the next natural step for ASCEND and Ventripoint as theyboth move to enhance cardiovascular diagnostics and improve patientcare. The objective of this agreement is to fully align VMS+ withGen3EchoTM workflow to improve diagnostic accuracy, streamlineworkflows, and enhance patient experience in cardiovascularimaging.
“Under the existing letter of intent, we demonstratedthe 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-classsolutions. Our teams continue to work closely together to fullyintegrate our VMS+ technology into ASCEND’s Gen3EchoTM platform. Wewill work with ASCEND on commercialization of this new initiative,beginning with a combined outreach to paediatric centres.”
Ventripoint and ASCEND have highly complementarytechnologies and capabilities within the field of cardiovascularimaging. ASCEND possesses clinical and industry knowledge, proprietarystructured reporting, and its zero-footprint DICOM viewer honed forecho automation and advance analysis. Ventripoint provides proprietaryAI-based diagnostic technologies, research capabilities, and technicalexpertise in cardiovascular imaging and analysis. The combination ofthe unique expertise and resources of both companies enable novelsolutions that address existing challenges within clinicalpractice.
About Ventripoint DiagnosticsLtd.
Ventripoint is an industry leader in the application ofAI (Artificial Intelligence) to echocardiography. Ventripoint's VMS+products are powered by its proprietary Knowledge Based Reconstructiontechnology, which is the result of a decade of development and provides accurate volumetric cardiacmeasurements with cMRI levels of accuracy. This affordable,gold-standard alternative allows cardiologists greater confidence inthe management of their patients. VMS+ is versatile and can be usedwith all ultrasound systems from any vendor supported by regulatorymarket approvals in the U.S., Europe and Canada.
Learn more: www.ventripoint.com
About Ascend Cardiovascular
ASCEND Cardiovascular is a leader in innovatingcardiovascular solutions that empower the provider community toimprove cardiovascular care. Designed with openness in mind, oursolutions integrate with EHRs, medical devices, and other systems todeliver seamless workflows that span procedure types and modalities. Acomplete cardiovascular solution, ASCEND provides structuredreporting, image visualization, collaboration, and analytics thatimprove efficiency, outcomes, and ROI. With decades of experience anda practicing cardiologist at our helm, the ASCEND team bringsunparalleled “know how” in cardiology workflow, collaboration, andIT 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
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