Sign up Australia
Proactive Investors - Run By Investors For Investors

VentriPoint Diagnostics soars as it's set to offer VMS Plus to medics in the US after FDA approval

The group reported further progress on its flagship product, namely FDA approval to sell its VMS Plus machine
VentriPoint Diagnostics soars as it's set to offer VMS Plus to medics in the US after FDA approval
VMS Plus can assess a patient's heart function, expressed as ejection fraction or volumes of any of the four chambers

Medtech group VentriPoint Diagnostics Ltd (CVE:VPT) reported further progress on its flagship product, namely FDA approval to sell its VMS Plus machine with the four-chamber heart analysis system in the USA.

"The VMS Plus is the first simple echocardiography system to be approved by the FDA for the 3-D volumetric analysis of all four chambers of the heart using 2-D ultrasound," said Dr George Adams, chief executive officer of VentriPoint.

READ: VentriPoint Diagnostics to advance AI capabilities in its heart device with new gov't funding

"Now we can offer the VMS Plus to American physicians so they can accurately and easily evaluate and monitor hearts in children and adults during a routine cardiology appointment."

The VMS+ is the first cost-effective and accurate artificial intelligence tool for measuring whole heart function using conventional ultrasound.

The  USA is the largest medical device market in the world with over 40mln cardiac ultrasound exams per year.

Two-dimensional ultrasound is the modern stethoscope and is employed worldwide as the first step in evaluating heart disease.

Dr Adams added: "There is more and more evidence that volumes and function can predict which patients require more or less drugs and more careful monitoring and this what the VMS+ does easily and cost-effectively.  

"Our mission to make it easier for every doctor worldwide to know what is actually happening with a heart without having to send everyone to an MRI has been advanced greatly with this approval.  The rest of the world looks to the USA as a leader in cardiac care and so this will help us elsewhere as well."

Looking ahead,  the company boss said: "We have sales and marketing plan for the USA and are now free to implement it.  

"You are not allowed to even market a device in the USA without approval, but we have a number of leading centres who are aware of the VMS and have been asking when the VMS+ would be available.  We can now actively contact them and solicit orders.  We will be announcing these orders as they come in."

Shares surged almost 29% in Toronto to stand at C$0.38 each.

View full VPT profile View Profile

VentriPoint Diagnostics Ltd. Timeline

Related Articles

scientist looking through microscope
April 12 2018
Kumaraguru Raja sees “multiple catalysts” in the year ahead which could put a rocket under the share price
1511901712_biotech_517925923.jpg
November 29 2017
The company has developed a "unique and superior pressure" cycling technology (PCT), says Zacks.
cells
July 31 2018
Life science generally is developing at an incredible speed, says Joe Anderson

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use