Category Archives: VentriPoint Diagnostics Ltd. VPTDF

VentriPoint Diagnostics Ltd. (VPTDF) Gains Critical Support From Well-Connected Board Of Directors

August 7, 2013

VentriPoint Diagnostics, Seattle-based imaging technology company, is dedicated to making heart analysis more convenient and less expensive using knowledge-based techniques. The company’s VentriPoint Medical System (VMS), often referred to as the VentriPoint Angelo System or simply “Angelo’s”, is a unique 2D ultrasound imaging system. Through the use of Knowledge Based Reconstruction (KBR) an accurate 3D image of the heart can be generated from standard 2D ultrasound input. This eliminates all the disadvantages of having to go through an elaborate and expensive MRI scan, such as the often long waiting list, the one hour scan time, the claustrophobic environment, the requirement of a general anesthetic for children, a lengthy heart analysis process, and the need for a second trip to the hospital.

Key to the development of the technology, and to the success of the company itself, has been the support of an impressive board of directors, and the many critical contacts that they represent.

• Treuman Katz (Chairman; Chairman of Nominating and Corporate Governance Committee) is currently the President Emeritus of the Seattle Children’s Hospital & Regional Medical Center (“Seattle Children’s”), after serving as its President and Chief Executive Officer from 1979 to 2005.
• George Adams (Director; President and Chief Executive Officer; Member of Nominating and Corporate Governance Committee) is a scientist, a serial entrepreneur, and a financier. His previous position was CEO of Amorfix Life Sciences from 2005-2010, and he continues as Chairman of Sernova Corp.
• Danny Dalla-Longa (Director; Chairman of Audit Committee; Member of Compensation Committee) is former CEO and Chairman of Luca Capital Inc., and has had extensive experience with public companies in a number of different industry sectors.
• Brad Harlow (Director; Chairman of Compensation Committee) is the Managing Partner of B. Harlow & Associates, which advises med-tech companies for financing, Mergers & Acquisitions and buyouts. His group has led over $200 million in financing, asset/division sales, and new technology investments.
• Don Black (Director; Member of Audit Committee; Member of Compensation Committee) has worked in the health care industry for over 25 years and has recently stepped down as the President of the Children’s Health Corporation of America.
• Hugh Cleland, CFA (Director; Member of Audit Committee; Member of Nominating and Corporate Governance Committee) is an Executive VP and Portfolio Manager at Northern Rivers Funds, a BluMont Capital Company.

For more information on VentriPoint’s leading-edge cardiac diagnostic technology, visit

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VentriPoint Diagnostics Ltd. (VPTDF) Business Model Designed for Rich Recurring Revenue

August 1, 2013

The VentriPoint business model parallels that of GE Healthcare, Phillips, Siemens, and Toshiba, with initial technology-based product sales acting as a platform for a range of recurring revenues. VentriPoint’s innovative ultrasound based medical imaging analysis technology provides an easy-to-use and highly cost-effective alternative to MRI and other high-end medical diagnostic tools and procedures. It’s of special value for right heart analysis, where a standard ultrasound approach is ineffective, and for pediatric patients where elaborate MRI scanning may be difficult to tolerate. It’s a technology of widening application, designed to save both time and money, and it’s finding a home in a growing number of hospitals around the world.

The system’s capital purchase list price of $100,000 per unit sets up a base for the following recurring revenues:

• $10,000 per year per unit – Access to databases, software, and hardware maintenance
• $20,000 – $50,000 per year per unit – Software upgrades, access to new databases and additional training
• $5,000 – $10,000 per year per unit – Training services and certification, with recertification required if you have not used the software for 3 months

For smaller clinics, and as applications increase, the move will be to a per-use revenue model.

Sales projections for year-end 2013 total $3 to $5 million, including recurring revenue from earlier installations, for new applications, support, maintenance, and training, with projections for 2014 totaling $10 to $15 million.

The company targets a large market opportunity, representing a well described unmet clinical need, with gross margins of 80%. The technology is patented and proprietary, with excellent clinical validation by respected experts. It already holds Canadian and European regulatory approvals, with FDA processing underway.

For more information on VentriPoint’s leading-edge cardiac diagnostic technology, visit

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VentriPoint Diagnostics, Inc. (VPTDF) Heart Analysis System Published in Prestigious Medical Journal by University of Chicago

July 25, 2013

VentriPoint Diagnostics was pleased to announce today that the cardiology group from the University of Chicago, led by Dr. Roberto Lang, has published a paper entitled “Three-Dimensional Modeling of the Right Ventricle from Two-Dimensional Transthoracic Echocardiographic Images: Utility of Knowledge-Based Reconstruction in Pulmonary Arterial Hypertension” in the Journal of the American Society of Echocardiography (JASE), Volume 26, Issue 8, Pages 860-867, August 2013.

Knowledge-Based Reconstruction (KBR) is the scientific terminology for VentriPoint’s VMS™ product. The VMS™ has been approved for clinical use in Canada and Europe, but is currently for investigational use only in the United States.

The paper concludes: “Three-dimensional reconstruction of the RV endocardium from 2D transthoracic echocardiographic images obtained in patients with Pulmonary Arterial Hypertension (PAH), as accomplished by Knowledge-Based Reconstruction (KBR), is feasible, accurate, and reproducible.”

Dr. George Adams, CEO of Ventripoint, stated, “We congratulate the Chicago cardiology team on the publication of this first-in-humans, clinical study in the premiere journal in the field of echocardiography.”

JASE is the official publication of the American Society of Echocardiography, which is the largest international organization for cardiac imaging. The journal brings physicians and sonographers the most current clinical, scientific, legal, and economic information regarding the use of cardiac ultrasound. JASE’s original, peer-reviewed articles cover conventional procedures as well as newer clinical techniques.

For more information on VentriPoint’s leading-edge cardiac diagnostic technology, visit

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VentriPoint Diagnostics Ltd. (VPTDF) Connects All the Dots

July 23, 2013

Seattle-based VentriPoint Diagnostics has developed a groundbreaking new approach to imaging analysis, particularly as it relates to what is called the right heart, a portion of the heart that is especially difficult to accurately image. The basis of the VMS system is Knowledge Based Reconstruction (KBR), which is able to take standard 2-dimensional ultrasound data and generate an accurate 3-dimensional image of the heart. Although KBR can also be used in conjunction with MRI images, the use of ultrasound as a data source offers major cost and operational advantages over other image technologies.

The traditional MRI approach requires more expensive equipment and procedures, often requiring costly and time-consuming followup visits. Ultrasound imaging is far simpler and less involved, meaning a major cost break for hospitals and patients. KBR takes ultrasound to a new level, offering superior analytical capabilities. Physicians will now be able to monitor patients at each clinic visit, more easily tracking heart conditions. It is also helpful for pediatric patients that may have problems with other types of imaging or invasive procedures.

With Knowledge Based Reconstruction, the user simply traces a few points on the ultrasound images to mark the position of anatomic landmarks. Advanced software is then able to essentially connect the dots, utilizing programmed knowledge concerning the shape of the human heart, and how it changes in reaction to various disease states, to generate a comprehensive and accurate picture of the heart and heart functioning. In addition to providing easier and accurate right-heart imaging, the VentriPoint VMS system, called Angelo, can also be used for cost effective left heart analysis, as well as for diagnosing pulmonary hypertension, and is being evaluated for other possibilities. The technology’s use is spreading, and can already be found in a number of top level hospitals around the world.

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Timely VentriPoint Diagnostics Ltd. (VPTDF) Heart Analysis System Positioned for Pulmonary Arterial Hypertension Application

July 16, 2013

VentriPoint’s Angelo (VMS™) heart analysis system provides a quick and accurate assessment of the right ventricle heart function. Following several installation in multiple sites in cardiac centers in Europe, Canada, and the United States, the company aims to install the device in more centers and expand its applications beyond congenital heart disease in adults and children.

Angelo’s (VMS™) 2D ultrasound imaging provides the accuracy of an MRI but eliminates several disadvantages of traditional imaging, such as a long procedure time, a claustrophobic environment, general anesthesia often needed for children, lengthy heart analysis process, and the need for a second trip to the hospital.

The procedure boasts a brief process time of between 5-10 minutes, including examination and analysis, which eliminates the need for sedation that lengthy MRIs may require. Angelo (VMS™) uses 2D ultrasound equipment, so the process in its entirety can be done on the first visit.

As previously reported, the FDA has requested additional information from the company concerning its 510(k) submission for Pulmonary Arterial Hypertension (PAH). While PAH is relatively rare (affecting 1 in 100,000 to 1 in 1 million people), the disease is life-threatening, worsening over time – approximately 50 percent of people diagnosed with PAH die within five years, according to the American Lung Association. Early detection of the disease followed by proper treatment improves the quality of life and helps the person perform everyday tasks.

Coordinating with the FDA, VPTDF has crafted a statistical plan to obtain and deliver additional information which is currently re-analyzing clinical studies.

The company’s VMS™ technology has been approved for clinical use in Canada and Europe.

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VentriPoint Diagnostics Ltd. (VPTDF) Expands Target Market to Include Pulmonary Hypertension

July 8, 2013

A unique ultrasound-based system for performing right heart analysis, developed by VentriPoint Diagnostics and now used in various hospitals around the world, is also being developed and introduced as a superior approach to diagnose pulmonary hypertension (PH), an unhealthy increase in blood pressure in the pulmonary artery or pulmonary vein which can lead to a variety of problems, up to and including heart failure.

The VentriPoint VMS system, called Angelo, uses 2-dimensional ultrasound data, together with a patented system called Knowledge-Based Reconstruction (KBR) for analyzing that ultrasound data. The result is an information-rich 3-dimensional model of the heart. For right heart analysis, it has major advantages over the use of MRI, which is far costlier and time consuming for patients, putting increased pressure on limited hospital resources. Similar advantages apply to the system’s use for PH diagnosis. It is already approved in both Europe and Canada and is under review by the FDA. VentriPoint is in discussion with 2D ultrasound OEMs to jointly build a PH-dedicated integrated system,

As with the system’s application to right heart analysis, the ability to use conventional ultrasound equipment, versus more invasive, time consuming and costly procedures, is an underlying advantage to the use of the VentriPoint system for PH diagnosis.

• PH related drugs work best with early detection, which the VentriPoint system can provide.
• PH is currently detected using invasive catheterization, an involved and risky procedure.
• 20 million people are considered at risk for PH, but the number of people actually experiencing the disease is essentially unknown.

Considering PAH and heart analysis, the remaining market for Angelo’s potential use is large. It would take from 2,000 to 5,000 VentriPoint systems to equip all of the hospitals and cardiologist offices in the U.S. The list price of the VentriPoint system is $100,000

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VentriPoint Diagnostics Ltd. (VPTDF) Offers Superior Solution to Right Heart Analysis

June 28, 2013

VentriPoint Diagnostics is a Seattle-based provider of a superior heart analysis system. The VentriPoint technology uses conventional 2-dimensional ultrasound data, plus a patented system for analyzing the data called Knowledge-Based Reconstruction (KBR). The result is a 3-dimensional model of the heart, providing critical information regarding things like heart volumes and cardiac output.

The VentriPoint system, called Angelo, is of special value for doing what is called right-heart analysis, where the physician needs a clear view of the portion of the heart that pumps blood to the lungs for oxygenation. It is normally difficult to image the right heart using ultrasound, due to the obstruction of the ribs. As a result, physicians often use MRI imaging to get the necessary detail, even though MRI imaging costs more and is more difficult for the patient, especially for children. The VentriPoint system provides the needed heart information without requiring an MRI, but rather with easy-to-use and far less expensive ultrasound technology. It removes the need to sedate children and for second visits.

The VentriPoint system has key applications for congenital heart disease and pulmonary arterial hypertension, and is being researched for a number of other applications:

• Single ventricle
• Perimount (R) Valves
• Ebsteins
• Workflow analysis
• Economic analysis
• RV to PA conduit
• Left ventricle
• Heart failure
• Coronary artery disease

The system has already been installed in major cardiac centers in Canada, Europe, and North America, and has also been the subject of scientific publications in major heart journals.

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VentriPoint Diagnostics Ltd. (VPTDF) Releases Thick Corporate Update, Closing of $500,000 Private Placement

June 24, 2013

VentriPoint Diagnostics today provided a corporate update and said that it has completed a first closing of the second of two non-brokered private placements.

As previously reported, the U.S. FDA had requested additional information concerning the company’s 510(k) submission for Pulmonary Arterial Hypertension (“PAH”). In response, VPTDF said it has prepared a detailed statistical plan to obtain the information required in collaboration with the Hospital for Sick Children, Toronto, which will re-analyze the clinical studies.

In accordance with its original plans for the clinical trial, VPTDF has completed the collection of an additional 21 clinical cases, which along with the 54 studies used in the first analysis, yields 75 total cases. The new analysis will use all 75 cases and will take approximately six to eight weeks to complete. The PAH clinical trial has been completed.

The company also announced:

• Tetralogy of Fallot (TOF) clinical trial has finished recruitment with the 75 required clinical cases – the study is now completed and closed. The analysis of the data will begin upon completion of the PAH analysis.

• The development of a clinical trial protocol in collaboration with a major cardiac center interested in evaluating if VMS assessment of right heart function and structure in patients admitted with congestive heart failure can predict hospital readmission within 30 days of discharge (see CEO blog on Web site

• The company last week exhibited at the 11th International Symposium entitled “Echocardiography Today and Tomorrow” in St. Wolfgang, Austria.

• From June 29-July 2, 2013, VPTDF will exhibit at the 24th Scientific Sessions of the American Society of Echocardiology (“ASE”) in Minneapolis, Minnesota. There will be three scientific papers presented by three groups of researchers discussing the clinical use of the VMS.

• A multicentre group from the University of Chicago and Elisabethinen Hospital in Linz, Austria will present a study entitled “Three-dimensional Modeling of the Right Ventricle from Two-Dimensional Transthoracic Echocardiographic Images: Utility of Knowledge-Based Reconstruction in Pulmonary Arterial Hypertension.”

• A group led by Dr. Laser from the Heart and Diabetes Center NRW (HDZ NRW), Bad Oeynhausen, Germany, will report on the first use of the prototype VMS-3DE™ software, which analyses 3D ultrasound cardiac images.

• A group led by Dr. Soriano from the Seattle Children’s Hospital will report on their early experiences with the VMS in a number of children with a broad range of heart.

• VPTDF has been upgrading VMS systems to the new mobile VMS-Angelo™ model and installing new systems for customer evaluation. By the end of this quarter, there will be seven systems in clinical use, four of which are being placed for a 30-day trial period prior to purchase. Additionally, four institution-sponsored clinical research studies have been completed and favorable purchase terms are being negotiated. The company anticipates several sales agreements in the next quarter and has a number of new cardiac centers requesting a VMS-Angelo system for evaluation.

In regards to its private placement, VPTDF has issued an aggregate of 500 units for gross proceeds of $500,000. The company intends to use the proceeds from private placement for product and service commercialization of the VMS machines; clinical validation of VMS functionality, including applications for additional diagnoses and heart diseases; and for general working capital purposes and to repay debt and outstanding payables.

The company also said it has received approval from the Exchange and has issued 694,425 Common Shares at $0.099 per Common Share in payment of $68,748.09 of accrued interest owing to a holder of a debenture of the Company.

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VentriPoint Diagnostics Ltd. (VPTDF) VMS™ Technology Notches Favorable Feedback Worldwide

June 21, 2013

VentriPoint Diagnostics has designed a heart visualization system designed to benefit doctors, patients, and the overall healthcare industry by reducing time and costs of the procedure. The system uses a 2D echo to make a 3D model of the heart to evaluate right heart function and get the same information obtained from an MRI, but in a fraction of the time.

As company CEO George Adams recently stated in an interview, the biggest beneficiary of the system is the patient. While cardiac MRIs can take anywhere between 30-90 minutes and take up to three months to get results, with VentriPoint’s VMS™ system the procedure is done within 10 minutes producing immediate results. This time advantage is especially significant for children and adults who have a hard time lying still or are anxious within confined spaces, as is necessary with traditional MRI procedures.

VentriPoint has already installed the system at multiple sites in the United States and overseas, and has received positive feedback across the board.

“The VMS is non-invasive and repeatable as compared to MRI, and we are confident in the results using routine clinical scanning. At Evelina, all children undergoing MRI must have a general anesthetic. This is not required for the VMS and is a major improvement as we will not have to subject these children to the added complexity and risk of a general anesthetic.” —John Simpson, MD, director of the Echocardiography Laboratory at Evelina Hospital in London, UK.

As of now, the VMS™ is for investigational use only in the United States and has been approved for clinical use in Canada and Europe. VentriPoint in April received from the U.S. FDA a request for additional information as the agency completes the review of Pulmonary Arterial Hypertension (PAH) 510(k). The company must now show the FDA that its technology works as well as MRI, as has already been demonstrated in other parts of the world.

“The VentriPoint system combines the best of both worlds: the ease and availability of 2D echo and the intrinsic 3D information of the MRI acquired shapes of the right ventricle in the database. We anticipate a reduction of the need for (expensive) cardiac Magnetic Resonance Imaging (MRI) for the purpose of assessment of right ventricle volumes.” —Willem Helbing MD, head of Pediatric Cardiology at Erasmus Sophia Children’s Hospital in Rotterdam, Netherlands.

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Ventripoint Diagnostics, Inc. (VPTDF) Seeks to Expand AngeloVMS™ Applications, Triple Sales by 2014

June 14, 2013

Ventripoint Diagnostics is the creator of what company management believes to be the first cost-effective and accurate diagnostic tool for measuring right ventricle heart function. The company created the blueprint to achieve its application expansion and goals for continued financial growth, supported by key management.

The first applications of the company’s Angelo (VMS™) analysis system are congenital heart disease and pulmonary arterial hypertension. Ventripoint has been granted Canada and Europe (CE Mark) approval for the sale of VMS and is awaiting the U.S.-FDA marketing clearance as well.

VMS was developed to address several issues associated with current heart diagnostics and holds several advantages over an MRI scan. VMS procedure time is 15 minutes and is much cheaper compared to MRI or CT, in part because of the reduced office visit time. The tool eliminates the requirement of general anesthetic for children, a lengthy heart analysis process, and the need for a second trip to the hospital.

As of March 2013, Ventripoint had installed VMS in numerous research centers (10 in Europe, four in Canada, and 12 in the United States) and forecasts full-year 2013 revenue between $3 million – $5 million. The company’s goal by the year 2014 is to triple revenue to $10 million – $15 million.

Raising awareness and generating sales are obvious keys to achieving these sales goals, and in support of this, the company later this month will travel to Minneapolis, Minn., for the 24th Annual Scientific Sessions (ASE2013) where it will host a booth to present its products to attendees.

Ventripoint in December will also hold a booth at EuroEcho2012 in Istanbul, Turkey, an annual meeting that this year will focus on heart failure and imaging in interventional cardiology. Scientific minds from around the world will convene to discuss the latest research and clinical findings on the broader spectrum of echocardiography as well as other cardiovascular imaging modalities.

CEO George Adams heads the company as a serial entrepreneur and financier. Dr. Adams has 124 scientific publications and is a reviewer for major scientific journals, federal granting agencies, and Centres of Excellence.

The company in March appointed Ellen Briant as its CFO to head the company’s financial strategy as it continues to launch new products, build revenues, and seek out and establish partnerships to further grow the company.

For more information, visit

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Ventripoint Diagnostics Ltd. (VPTDF) Addresses Unmet Medical Need, Offers Outlook for 2013-2014 Sales

June 6, 2013

Ventripoint has created a diagnostic ultrasound tool to monitor patients with heart disease. Company management believes that VMS™ is the first cost-effective and accurate diagnostic tool for measuring right ventricle heart function. The product has received Canada and Europe approval (CE Mark) for the sale of VMS™ and the company is now pursuing the U.S.-FDA approval.

VMS was developed to address issues with current heart diagnostics. Because of its location between the ribs, the right side of the heart is hard to see with ultrasound and produces “blurry” images of the organ. For this reason, cardiologists order an MRI to view the right side of the heart, a process that can take hours comprised of machine time, analysis, radiology analysis and may require a second or third visit to the cardiologist. VMS, on the other hand, provides diagnosis within an hour, boasting procedure time between 5-10 minutes vs. 90-120 minutes of procedure time with a traditional MRI.

VMS is also more cost-effective, offering a 300% increase in net income per hour compared to MRI. Each unit is priced at $100,000 and has the potential to generate recurring revenue of $10,000 per year per unit for access to databases, software support and hardware maintenance; $20,000-$50,000 per year per unit for software upgrades, access to new databases, and additional training; and $5,000-$10,000 per year per unit for training services and certification, contingent on time of last use.

As of March 2013, Ventripoint had installed VMS in numerous research centers: 10 in Europe, four in Canada, and 12 in the United States.

Ventripoint estimates 2013 sales between $3 million – $5 million with an installed base of 50-75 machines and recurring revenue from 2012 sales of 26 machines.

The company’s goal by the year 2014 is to triple revenue to $10 million – $15 million with an increased base of 200-300 installed machines paired with recurring revenue from 2012-2013 sales. As part of this mission, the company recently appointed Jerry Gatewood as its vice president of Sales and Marketing to assist the company in its goal to expand sales around the world.

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Ventripoint Diagnostics Ltd. (VPTDF) Appoints New Vice-President of Sales and Marketing

May 30, 2013

Ventripoint Diagnostics today reported the appointment of Mr. Jerry Gatewood as its Vice-President of Sales and Marketing.

Gatewood brings more than 18 years of introducing new medical products with extensive experience in sales and marketing of imaging equipment. He was Global Market Manager for ATL Ultrasound (now Philips Medical Systems), where he created and executed global marketing and market introduction plans, and Director of U.S. Marketing for SonoSite (now part of FujiFilm) where he managed the U.S. marketing team and identified and developed new markets. He was also Director for Global Sales for Merge CAD, where he established, negotiated, and managed all aspects of original equipment manufacturer (OEM) partnerships, while securing national U.S. account agreements with major group purchasing organizations.

“It is with great pleasure that I welcome Jerry to the team” said Dr. George Adams, CEO of Ventripoint. “Jerry’s ‘been-there-done-that’ wisdom will lead us as we prepare for expanding sales into the U.S. and the rest of the world.”

“I am very excited at the opportunity to be a part of the Ventripoint team. This Company and its technology have a great potential to positively impact patient care and I am proud to be part of that movement” said Jerry Gatewood, VP of Sales and Marketing.

Mr. Amol Karnick will continue to be a consultant to the company and focus on Business Development.

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VentriPoint Diagnostics Ltd. (VPTDF) Technology Now Used by Hospitals around the World

May 28, 2013

With much effort, Dr. Florence Sheehan and a team of cardiologists at the University of Washington were able to develop a radically new and more cost effective way of performing critical heart imagery. Through the use of conventional 2-dimensional ultrasound data, easily acquired in a few minutes, together with a patented system known as knowledge-based reconstruction (KBR), the system is able to build a 3D model of the heart and calculate the functional information of heart volumes, cardiac output, and ejection fraction.

It’s a revolutionary approach of particular value for performing right-heart analysis, which has traditionally required time consuming and expensive MRI scans, especially challenging when dealing with small children. VentriPoint’s clinical-grade system, trade named “Angelo (VMS™)”, offers a far quicker, easier, and more affordable way to get the heart data required to save lives, and it is now being picked up by leading cardiac and general hospitals all over the world:

• Alberta Children’s Hospital, Calgary, AB
• Allegheny General Hospital, Pittsburgh, PA
• Baylor’s Medical Center, Houston, TX
• Central Manchester University Hospitals, Manchester, UK
• Children’s Hospital Colorado, Denver, CO
• Children’s Hospital of Philadelphia, Philadelphia, PA
• Cleveland Clinic, Cleveland, OH
• Evelina Hospital, London, UK
• German Heart Institute, Berlin, Germany
• Great Ormond Street, London, UK
• Harvard/Brigham and Women’s Hospital, Boston, MA
• Hospital for Sick Children, Toronto, ON
• Hospital Necker Enfants Malade, Paris, France
• Krankenhaus der Elisabethinen Hospital in Linz, Austria
• Mayo Clinic, Rochester, MN
• Nationwide Children’s Hospital, Columbus, OH
• Omaha Children’s Hospital, Omaha, NB
• Oregon Health Sciences University, Portland, OR
• Rikshospitalet University Hospital, Oslo, Norway
• Seattle Children’s Hospital, Seattle, WA
• Sophia Hospital, Rotterdam, The Netherlands
• St. Paul’s Hospital, Vancouver, BC, Calgary, AB
• Toronto General Hospital, Toronto, ON
• University Children’s Hospital, Zurich, Switzerland
• University Medical Center, Utrecht, The Netherlands
• University of Chicago, Chicago, IL

For additional information, visit

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Top Lineup for VentriPoint Diagnostics Ltd. (VPTDF)

May 21, 2013

VentriPoint Diagnostics has developed a technology, now being used in a growing number of hospitals around the world, which effectively replaces costly and time consuming MRI scans for certain types of heart imaging. It has been a challenging task that is now paying off, thanks to the efforts of a dedicated group of people, including the company’s management team:

• Dr. George Adams (CEO) is a scientist as well as a long-time entrepreneur and expert financier. Prior to VentriPoint, he was CEO of Amorfix Life Sciences, and continues as Chairman of Semova Corp., both publicly owned companies. Earlier, he was President and CEO of the UT Innovations Foundation, and has also held research and executive positions with Boston Scientific, Pfizer, Corvita Canada, the University of Ottawa, and others. He has been instrumental in founding over 30 companies who have raised $100 million, and has been Director of 10 venture capital funds and 10 startup companies. He has 124 scientific publications, and is a reviewer for major scientific journals, federal granting agencies, and others. Dr. Adams has accepted awards for World Economic Foundation Technology Pioneer, 2007, and TBI Company Of The Year, 2009.

• Ellen Briant (CFO) has 20 years of professional finance experience, with a focus on private placement and merger & acquisitions transactions to mid-market and startup companies. She has provided corporate financing advisory services at Spire Sharwood, and was VP & Director of the Private Placement Group for Deloitte & Touche, arranging debt financing and advisory services for various sized clients, including government entities. She was also part of the Corporate Banking Group at Scotiabank, and the Financial Services Audit Group of Ernst & Young.

• Amol Karnick (VP, Sales & Business Development) has over 18 years of medical imaging experience, including 7 years at GE Healthcare where he helped drive $150 million in imaging sales in addition to integrating 4 companies. He was the Chief Operating Officer for Sentinelle Medical, responsible for Engineering, Service, Manufacturing, and Regulatory Affairs, and was General Manager at Ultrasonix Medical where he grew sales through business development. He has experience working with multiple cultures around the world.

• Scott Ashley (VP, Research & Development) has 26 years of core operating system software development and project management, as well as first-line, second-line, and director experience. He was Director of Software Development for HP Integrity NonStop NS 16000 Server, managing over 80 developers, and was a key driving force across the Tandem NonStop Division.

• Eyal Schwartz (Chief Architect) has 16 years of experience leading various software development projects. He was a development leader at Microsoft in the Windows, MSN, and Entertainment divisions, and did lead design and development of a wide array of technologies. He is also the owner of 10 U.S. patents.

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VentriPoint Diagnostics Ltd. (VPTDF) and Knowledge Based Reconstruction

May 14, 2013

VentriPoint Diagnostics, a Seattle based imaging technology company, has developed an important proprietary system that provides a uniquely simple and cost effective way of imaging various heart functions, offering the promise of significantly lower diagnostic and support costs for hospitals and patients. Its current focus is on the diagnosis of congenital heart disease in adults and children, due largely to its remarkable ability for imaging of the right ventricle, but other applications are already being developed.

The VentriPont Angelo (VMS™) imaging system is based upon what is called Knowledge Based Reconstruction (KBR), a way of generating an accurate 3-dimensional surface from basic ultrasound 2-dimensional data, by fitting points which the user enters at anatomic landmarks, avoiding all of the operational and economic disadvantages of complex MRI scanning.

KBR is based on the piecewise smooth subdivision surface reconstruction method, the most anatomically accurate 3D surface reconstruction method reported to date and the only reconstruction method proven to provide faithful representation of 3D shape and volume. It’s fast, taking just a few minutes per volume measurement, and requiring the user to provide a very sparse input of points as opposed to whole borders. The user can choose the highest quality images to trace those points, meaning that the user is free to work just on the images where each part of the ventricle is best seen. Tests have shown KBR to have excellent accuracy in the measurement of right ventricular volume at both end diastole (EDV) and end systole (ESV).

The VentriPont system is currently installed in hospitals throughout the U.S., Canada, and Europe, and is now in the process of enabling dozens of additional centers, expanding the applications beyond congenital heart disease in adults and children.

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VentriPoint Diagnostics Ltd. (VPTDF) Prices Private Placements of Common Stock

May 7, 2013

VentriPoint Diagnostics, developer of a diagnostic ultrasound tool to monitor patients with heart disease, said it intends to complete a non-brokered private placement of up to 1,000 units of the company for $1,000 per unit for gross proceeds of up to $1 million. Each unit will consist of $1,100 principal amount of non-convertible secured debentures that will mature three years from the date of issuance and 2,000 common shares in the capital of the company.

The company also reported a non-brokered private placement of up to $800,000 of non-convertible secured debentures in a principal amount of $1,000 per non-unit debenture, which will mature July 18, 2014.

Each unit debenture is subject to a 10 percent capital discount premium to the subscriber such that for every $1 unit debenture acquired, upon the maturity date VentriPoint will owe an amount equal to $1.10 to the subscriber minus any payments of principal to date.

The debentures will bear interest at a rate of 12 percent per annum and shall be calculated on the initial debenture amount.

The debenture holders shall receive a pro rata 20 percent first charge on gross revenues at the end of each calendar quarter from sales of VentriPoint Medical System (VMS) machines until the debentures are retired.

VentriPoint plans to use the proceeds from the private placements to commercialize the product and service of its VMS machines; to obtain clinical validation of VMS functionality, including applications for additional diagnoses and heart diseases; and for general working capital purposes as well as to potentially to repay debt and outstanding payables.

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VentriPoint Diagnostics Ltd. (VPTDF) and the MRI Alternative

May 6, 2013

Since its gradual development, from initial concepts in the 1950s to experimental machines in the 1970s and 1980s, MRI based imaging in its various iterations has grown to become a multi-billion global industry, with a market that continues to increase as an aging population feeds the need for heart, cancer, and neurological related diagnostics.

Hospitals all over the world demand the machines, given their ability to reveal the internal structures of the body in significant detail, but it’s a technology that comes at a price. Even small scale systems can cost hundreds of thousands of dollars, with large scale high-power systems going for millions. Add to this the associated facility and operational costs and it’s easy to see why hospital budgets are being pushed through the roof, and why healthcare reforms are putting increased pressure on the purchase and use of MRI technology.

All of this spells a tremendous opportunity for VentriPoint Diagnostics, a Seattle-based imaging technology company capitalizing on an invention already grabbing part of the massive MRI market. Their proprietary system gives inexpensive ultrasound imaging the power to replace capabilities previously limited to MRI. The company’s Angelo’s (VMS™) 2D ultrasound imaging system uses anatomical “dots” to build a 3D model of the heart, calculating the functional information of heart volumes, cardiac output, and ejection fraction that is required by a cardiologist to determine heart function status.

Unlike an MRI, all of this critical information is acquired in 10 minutes using conventional 2D ultrasound, analyzed via a patented system known as knowledge-based reconstruction (KBR). The net result is the elimination of all the disadvantages of an MRI scan: a long wait list, the one-hour scan time, the claustrophobic environment, the requirement of a general anesthetic for children, a lengthy heart analysis process, and the need for a second trip to the hospital. Most of all, it means less use of MRI equipment and supporting processes, with all of the cost savings that represents.

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VentriPoint Diagnostics Ltd. (VPTDF) Receives Expanded License from Health Canada

April 30, 2013

Today, VentriPoint Diagnostics reported receiving an expanded license from Health Canada that allows the company to sell the VMS™ heart analysis system for clinical use in Canada. The expansion was for the NRV™ application for the analysis of 2-D ultrasound images for patients with non-specific heart disease. The NRV™ application will enable healthcare providers to rapidly and accurately assess the status of the right ventricle in all patients that do not have significant congenital heart defects or pulmonary hypertension, yet may have a variety of other conditions.

VentriPoint’s VMS-2DE™ heart analysis system will be used in conjunction with the NRV™ database for patients where knowledge of the function of the right heart would be useful in assessing the overall heart function and optimally treat the patient. Heart disease and stroke costs the Canadian economy more than $20.9 billion every year in physician services, hospital costs, lost wages, and decreased productivity (Conference Board of Canada, 2010). It is estimated that there are 1.5 million Canadians living with heart disease and about 10% of them die each year. There are also 300,000 hospitalizations for heart failure each year and this accounts for 17% of all hospitalizations.

The addition of the NRV™ application to the VMS™ heart analysis systems will provide a direct avenue for clinicians to better evaluate and care for these individuals. VentriPoint believes that the NRV™ application can also be used to provide a reference baseline study for patients at risk for developing right heart dysfunction and would benefit from frequent monitoring.

The VMS-2DE™ is approved for clinical use in Europe and Canada and is available for investigational use only in the United States.

VentriPoint today also corrected a press release from last week. In conjunction with the final closing of the offering announced March 1, 2013, VentriPoint paid cash commissions of $10,296 and issued 102,960 agent’s options (“Agent’s Options”). As a result of the two closings, VentriPoint raised gross proceeds of $933,700 and paid total cash commissions of $26,776 and issued 267,760 Agent’s Options.

Each Agent’s Option is exercisable into one Common Share for a period of 18 months from the date of issuance at a price of $0.10 per Common Share. All securities issued pursuant to the Offering are subject to a four-month hold period pursuant to applicable securities legislation. The proceeds made available through the sale of Units will be used for the general working capital needs of the company.

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VentriPoint Diagnostics, Inc. (VPTDF) Reports FDA Response to 510 (k) Submission for Pulmonary Arterial Hypertension

April 25, 2013

VentriPoint Diagnostics, creator of the first cost-effective and accurate diagnostic tool for measuring right ventricle heart function, announced that the U.S. Food and Drug Administration (FDA) responded to its Pulmonary Arterial Hypertension (PAH) 510(k) submission with a short list of suggestions, clarifications and requests for additional information.

“We are very pleased the FDA has reviewed our submission so expeditiously and we now have a small number of modifications to the filing to prepare,” said, Dr. George Adams, CEO of VentriPoint.

Known as the most serious form of the five recognized groups of pulmonary hypertension, PAH is a devastating disease with an average patient lifespan of less than 3 years after diagnosis if untreated. The disease affects individuals of all ages, even infants. Although quickly applying treatment helps, most patients with PAH are diagnosed too late for any therapy to be fully effective.

The VMS™ analysis system is currently for investigational use only in the United States and approved for clinical use in Canada and Europe. VentriPoint designed this system to be used for all major heart diseases, including pulmonary hypertension, cardiovascular disease, and heart failure. Offering better efficiency and cost savings, VMS™ offers the healthcare industry a superior method of heart visualization.

For more information on VentriPoint and VMS™, visit

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The Case for VentriPoint Diagnostics Ltd. (VPTDF)

April 24, 2013

If you think that you’re safe from heart disease, America’s #1 killer, think again. There’s a good chance that you are at risk, and simply don’t know it. In fact, approximately half of all people, both men and women, who die from heart attack each year had no prior knowledge of their own heart disease. It’s the reason that researchers around the world are anxious to improve diagnostic technologies, with an eye toward saving potentially millions of lives that will otherwise be lost.

One of the newest diagnostic technologies now available for doctors in the fight against heart disease is the VentriPoint Medical System (VMSTM), going by the name “Angelo(VMSTM)”, from VentriPoint Diagnostics. Different than any other heart diagnostic system, it uses sophisticated knowledge-based reconstruction technology applied against 2D ultrasound generated data to create a clear image of the “right heart,” the portion of the heart that pumps blood to the lungs where it picks up oxygen.

It’s important for doctors to have a clear picture of right heart functioning for accurate diagnostics. However, because of the unique position of the right heart, getting a useful image has required an expensive and time-consuming MRI, especially difficult to get if the patient is a child. A standard MRI involves 1-2 hours of machine time, a radiologist, 15-45 minutes of analysis time, and often a second visit to the MRI center and a third visit back to the cardiologist. Prior to this new technology, ultrasound images of the right heart were too blurry to use, but now the VentriPoint system offers full right-heart image clarity together with the ease, speed, and cost advantages of a quick and simple ultrasound scan, usable even with babies.

Leading hospitals around the world have already begun using the VentriPoint right-heart analysis system, and the company is now in talks with 2D ultrasound OEMs to jointly build a system for the early detection of pulmonary hypertension, potentially involving thousands of machines in the U.S. alone. Additional applications of the technology are on the horizon.

For additional information, visit

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VentriPoint Diagnostics Ltd. (VPTDF) Receives CE Mark for NRV™ Application, Vastly Expands Capabilities

April 17, 2013

Today, VentriPoint Diagnostics, developer of ultrasound tools used on patients with heart disease, announced that the European Notified Body, Intertek Semko AB, has granted a CE Mark for its NRV™ application, which pertains to the analysis of 2-D ultrasound images for patients with non-specific heart disease. The application will allow clinicians to rapidly and accurately assess the status of the right ventricle in patients without significant congenital heart defects or pulmonary hypertension, but who may have a variety of other conditions (such as left-heart failure or valve disease).

The NRV™ database can be used in conjunction with the VMS-2DE™ heart analysis system in instances when knowledge of the function of the right heart is useful in assessing overall heart function. The VMS-2DE™ is approved for clinical use in Europe and Canada. In the United States, the system is currently available for investigational use only.

Adding the NRV™ application to the VMS™ heart analysis systems provides a direct avenue for clinicians to better evaluate and care for individuals currently suffering from some form of heart disease. The application may also be used to provide a reference baseline study for patients at risk for developing right-heart dysfunction, who may benefit greatly from frequent monitoring.

“Leading cardiologists, who have the VMS-2DE™ heart analysis system, have been requesting the NRV™ application so they can examine almost every patient they see,” remarked VentriPoint’s CEO, Dr. George Adams. “This approval will allow our sales force to offer this major expansion of the capability of the VMS-2DE™ to our existing and pending customers in Europe, where heart disease remains the leading cause of death at a financial cost of 196 billion Euros each year.”

VentriPoint also announced that its quality management system has passed the annual surveillance audit and has received renewal compliance certificates for ISO 13485:2003/CMDCAS and MDD 93/42/EEC – Annex II standards. These certificates are required to maintain the company’s licenses to sell medical devices in Europe and Canada.

For more information on VentriPoint and its leading-edge technology, visit

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VentriPoint Diagnostics Ltd. (VPTDF) Changes the Way Doctors Look at Hearts

April 10, 2013

VentriPoint Diagnostics, a Seattle-based heart analysis technology company, is in the process of changing the way hearts are analyzed, a significant venture given the size of the market. According to the American Heart Association, there are approximately 80 million U.S. adults experiencing some form of cardiovascular disease, representing an annual total cost of nearly $500 billion. However, in spite of advances in ultrasound, MRI, and other non-invasive diagnostic technologies, there are currently a number of problems with accurate heart diagnosis.

In particular, accurate analysis of what is called the “right heart” has been problematic. The right side of the heart is the part that pumps blood through the lungs where it picks up oxygen. The blood is then returned to the left side of the heart which proceeds to pump the oxygenated blood to the rest of the body. The left heart is thicker, since it has to pump the blood throughout the entire body, and tends to have a more consistent left ventricular shape. The right heart has a more complex ventricular shape, and is positioned in a way that can make proper imaging difficult. And yet the right ventricle is critical to heart function, and is important in evaluating clinical outcomes.

Ultrasound is a convenient and cost effective tool for analysis, but cardiologists do not use ultrasound for right heart analysis because the resulting images are blurry. With ultrasound, it’s hard to see the right heart (front part of the heart) due to the small imaging window through the ribs. As a result, cardiologists use MRI scans, but that requires 1-2 hours of machine time, the use of a radiologist, and greater analysis time. It can also require additional MRI and cardiologist visits. For pediatric patients, the use of MRI equipment poses even more problems.

The VentriPoint Medical System (VMSTM) 2D ultrasound imaging approach eliminates the many disadvantages of expensive and complex MRI scans. VMS uses knowledge-based reconstruction (KBR), essentially a library of disease specific hearts, which can be used with standard ultrasound images. The physician or sonographer identifies anatomical landmarks, using dots on a number of the 2D ultrasound views through the heart. The system also has a positioning sensor on the ultrasound probe to show where the 2D slice (plane) is in 3D space. In this way precise anatomical landmarks are located in 3D space. 25 of these points is all that is required to define the ventricle of the heart and to allow an accurate 3D image to be constructed using KBR.

VMS is the first cost-effective and accurate diagnostic tool for measuring right ventricle heart function. It is quick, easy, and much less expensive, and the company is now planning to expand the technology’s application.

For additional information, visit

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Busy March Sets the Stage for VentriPoint Diagnostics Ltd. (VPTDF)

April 3, 2013

March was a busy month for VentriPoint Diagnostics, a Canadian based medical device company focused on revolutionary software for 3D heart analysis. The company was successful in completing several important steps in the development and approval of what is viewed as potentially transformative diagnostics technology.

March began with the announcement that the company had received acceptance from the FDA (U.S.) of its submission for right heart analysis in Pulmonary Arterial Hypertension (PAH), meaning that all of the required information is present for the FDA to proceed with a substantive review. PAH is a devastating disease, which can affect individuals from infancy to the elderly, offering an average patient lifespan of less than 3 years after diagnosis if untreated. Although treatment started early after detection appears to be more effective than when started later, the majority of patients with PAH continue to be diagnosed too late for treatment to be fully effective. VentriPoint has created diagnostic tools to monitor patients with heart disease, and has a suite of applications for all major heart diseases and imaging modalities including congenital heart disease, left or right heart failure, and normal hearts.

Shortly after the positive notice from the FDA, VentriPoint announced intention to complete a private placement of up to $2 million, providing additional funds to continue progress in developing and moving its technologies to market. That was soon followed by the company’s announcement of formal application for European and Canadian approval for its database for non-specific heart disease (NRV), a database that allows clinicians to rapidly and accurately assess the status of the right ventricle (RV) in all patients that do not have significant congenital heart defects or Pulmonary Arterial Hypertension, yet may have a variety of other conditions. The company expects to have a response from the European CE Mark and Health Canada offices in the next 30 days.

For additional information, visit

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VentriPoint Diagnostics Ltd. (VPTDF) Offers New Hope for CHD Patients

March 27, 2013

One of the challenges facing heart doctors is working with people having congenital heart disease (CHD). It’s a growing problem that involves unique issues. Though CHD is usually associated with children, a recent article by Michael O’Riordan in Clinical Cardiology ( references a report indicating that the frequency of hospitalizations among adults for congenital defects has grown twice as fast as for children, with annual adult admissions now over a third of total CHD admissions. Among other factors, people who used to die young from such problems are now often living well into adulthood. The result is a growing burden on the healthcare system.

Accurate analysis of the heart can be a difficult and expensive process, and involves special issues dealing with the many children afflicted with the disease. Adding to the problem is the fact that people with CHD almost always have right heart defect, which can pose special challenges for accurate analysis. The unconventional shape, position, and size of the right ventricle has made it difficult to obtain reliable data regarding pump volume and cardiac function.

VentriPoint Diagnostics, a Canadian-based medical device company, offers what could be a breakthrough solution to the problems of accurate and comprehensive heart function analysis. The company’s new imaging system, called “Angelo,” is the only software available that offers comprehensive 3D imaging as quickly and cost-effectively, including the right heart. The system uses anatomical “dots” to build a 3D model of the heart, calculating such functional information as heart volumes, cardiac output, and ejection fraction, all within only 10 minutes, using conventional 2D ultrasound input.

The technology is based upon a patented approach known as knowledge-based reconstruction. The software can be added to any 2D ultrasound equipment, providing results that are faster, easier, and less expensive than any other heart assessment techniques. For both patients and doctors dealing with CHD, it offers new hope, and has already been approved for congenital heart disease application in Canada and Europe, with clinical trials currently finishing up in the U.S.

For more information, visit

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VentriPoint Diagnostics Ltd. (VPTDF) Pursues European and Canadian Approvals for New Non-Specific Heart Disease Application

March 21, 2013

Today before the opening bell, VentriPoint Diagnostics announced it has filed for CE Mark and Health Canada approvals for its database for non-specific heart disease (NRV). By using this database, clinicians can rapidly and accurately assess the status of the right ventricle (RV) in all patients that do not have significant congenital heart defects or Pulmonary Arterial Hypertension (PAH), yet may have a variety of other conditions, such as left-heart failure or valve disease.

“Our customers have asked for the NRV application so they can assess the RV in virtually every patient they see,” said Dr. George Adams, CEO of VentriPoint. “RV assessments are important in all heart patients and we are proud to offer this cost-effective extension to our VMS™ products.”

Approximately 27 million people in the world population have some form of heart disease. VentriPoint Diagnostics’ NRV database will provide a direct avenue for clinicians to better evaluate and care for these individuals. VentriPoint Diagnostics anticipates receiving a response from the European CE Mark and Health Canada offices in the next 30 days.

The database will be used alongside the VMS-2DE™ heart analysis system for patients where knowledge of the function of the right heart could be used to assess the overall heart function to optimally treat the patient. It can also be used to provide a reference baseline study for patients who are at risk for developing right heart dysfunction and would benefit from regular monitoring. Medical research has shown an accurate understanding of the right heart function greatly informs the physician of both right and left heart failure, but it has been hard to obtain this information in a rapid and cost-effective manner until now.

The VMS-2DE™ is approved for clinical use in Tetralogy of Fallot, dextro-Transposition of the Great Arteries (d-TGA) and PAH in Canada and Europe and is for investigational use only in the United States.

For more information, visit

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