AI Enters The Ultrasound Cardiac Diagnostics Landscape – And An Expanding Canadian Manufacturer Finds Itself At A Key Tech Intersection

A new report on the state and future of the global ultrasound heart diagnostics market sees the sector securing a 6.0% CAGR over the 2021-2026 period – and expects a sharp increase in cardiac cases to emerge as the population ages and COVID-derived heart damage advances.

North America, Europe and Asia Pacific led the way in diagnostics demand in 2021, with North America accounting for 43% of the global demand.

The cardiovascular ultrasound market is ripe with technological advancements, driven by intense competition. New devices and innovative technologies flood the market as a new generation of monitoring devices reach medical establishments.

AI requires a wealth of data to run diagnostics properly, but once it’s properly developed, variances could be greatly reduced, as the tech allows less experienced users to perform consistent diagnostic-quality exams.

Several new products with these innovative features are being developed and even deployed by healthcare equipment manufacturers, such as Ventripoint (TSX.V: VPT) and its VMS+3.0. VPT is now also leveraging its network to partner with distributors who sell ancillary cardiology offerings, and who have an active and well-established client portfolio open to innovation.

An innovator with an eye for growth

Toronto’s Ventripoint Diagnostics Ltd. (TSX.V: VPT) develops and commercializes cardiac diagnostics solutions worldwide. Their flagship offering, Ventripoint Medical System Plus (VMS+), generates a 3D model of the whole heart from a 2D echocardiogram from which critical volume and functional measurements of a patient's heart chambers are derived.

VPT’S VMS+3.0 has several applications for heart disease, like congenital heart disease, cardiotoxicity in oncology patients and, most recently, heart problems spurred by Covid-19.

Ventripoint is now using its strategic partnerships to reach more healthcare providers across the world – leveraged by established cardiovascular diagnostics technology providers. Their newest partner, CardioLogic, will bring them to the doorstep of healthcare providers across the United Kingdom

Making way in a new market

CardioLogic Ltd specializes in the development, marketing, and distribution of medical devices for cardiac care and has an extensive network and customer base. Ventripoint does have prominent UK hospitals using the VMS+3.0, but the UK market remains largely untapped. CardioLogic will expand Ventripoint’s UK footprint with a sales team calling on echocardiologists, interventional cardiologists, and cardiac surgeons, who would benefit from the VMS+3.0 system’s fast and reliable diagnostic imaging.

CardioLogic Ltd. is a well-tenured cardiac care device provider with an extensive customer base. They specialize in the development, marketing and distribution of medical equipment. CardioLogic will focus on outreach to its existing client base of echocardiologists, interventional cardiologists and cardiac surgeons to offer VMS+3.0’s fast and reliable diagnostic imaging.

“After interviewing a number of potential distribution partners in the United Kingdom (UK), we are pleased to have come to an agreement with CardioLogic. CardioLogic’s position as a leader in the cardiology market in the UK and its extensive network provides an excellent opportunity for Ventripoint to reach new customers in the UK market quickly,” stated Dr. George Adams, CEO of Ventripoint.

CardioLogic’s Managing Director, Martyn Dixon, also commented on the new relationship: “We are very excited to enter into this partnership with Ventripoint Diagnostics and integrate the VMS+ with our range of innovative products that we currently offer. In addition to being a great and a unique complement for cardiac ultrasound, they have demonstrated an accuracy equivalent to cardiac MRI. We are eager to commence this partnership and look forward to leveraging the VMS+3.0 with our extensive network of client contacts to drive adoption and growth into the UK market.”

Ventripoint will also benefit from CardioLogic’s experience in handling the process of getting medical devices in the NHS’ (National Health Service) recommendations list. Aspirants are evaluated through the country’s NICE (National Institute for Health and Care Excellence) program. The ones that pass evaluation are showcased in the health authority’s list as recommendations to clinicians when considering patient treatment options.

Having the process streamlined, VPT’s expansion in the new market will be accelerated. Meanwhile, they continue to interview potential partners in the rest of the world, which are expected to be announced in the near future.

Primed For Growth

VPT’s incursion into the UK market is an auspicious marker for their 2022 sales – and that’s not accounting for the upcoming European partnerships they are aiming to announce through the year.

This European expansion phase could signal major growth for the stock this year as well – which now sits at a very conservative sub. $0.30 level.

ABOUT VENTRIPOINT

Ventripoint Diagnostics Ltd. (TSX.V: VPT). a medical device company, develops and commercializes diagnostic tools that monitor patients with heart disease worldwide. The company offers Ventripoint Medical System, a medical imaging system that is used to generate three-dimensional models with critical volume and functional measurements of a patient's heart chambers. It also develops a suite of applications for various heart diseases and imaging modalities, including congenital heart disease, pulmonary hypertension, cardiotoxicity in oncology patients, and Covid-19 related heart issues. The company was incorporated in 2004 and is headquartered in Toronto, Canada.

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