Ventripoint Diagnostics Ltd (CVE:VPT) (OTCMKTS:VPTDF) announced Thursday that the US Food and Drug Administration has approved the company’s VMS+ 3.0 whole heart analysis system.
The Toronto-based medical device company’s Ventripoint Medical System (VMS) is a device that measures the function of all four chambers of the heart. Approximately 50% of patients with heart failure have dysfunctional right hearts which go undetected and untreated, leading to repeat hospitalizations. The VMS is designed to reduce healthcare costs while improving quality of life in patients with heart disease.
The cost-effective VMS+ 3.0 system diagnostic tool for measuring whole heart function utilizes standard 2D ultrasound. The company said the VMS+ 3.0 system connects to echocardiography machines and uses a proprietary knowledge-based reconstruction technology to create 3D images of the heart and calculates volumes and ejection fractions for all four cardiac chambers with accuracy equivalent to an MRI scan.
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In a statement, Ventripoint CEO George Adams said the Candian company was “thrilled” that its innovative heart analysis system can now be used in hospitals across the United States.
“Millions of echocardiograms are performed in the US annually and our goal is to become the premier analysis tool for cardiac imaging in both pediatric and adult hospitals,” said Adams.
Nearly $200 billion is spent every year on battling heart disease in the US. It is one of the leading causes of death for both men and women worldwide, and accurate cardiac measurements are critical for patient care.
The VMS+ 3.0 system is already commercially available in Canada and Europe. In June, the company hit a milestone with the announcement that it had received a license from Health Canada to market the VMS+ 3.0 cardiac system for all patients where the Left Ventricle, Right Ventricle, Left Atrium, and Right Atrium volumes and ejection fractions are warranted or desired.
Currently there are three children’s hospitals and five cardiac institutions in Canada who have ordered the machine.
Contact Uttara Choudhury at uttara@proactiveinvestors.com
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