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VentriPoint Diagnostics bolstered by VMSPlus CE mark news

The device can now be sold to aid in heart treatment throughout the European Union
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VentriPoint's technology is aimed at identifying heart problems early on

Heart monitoring group VentriPoint Diagnostics Ltd (CVE:VPT) saw shares advance as its VMSplus device received a European CE mark less than a month after it made the application.

It means it can now be sold to aid in heart treatment throughout the European Union and the medtech group said it aims to meet with distributors with a focus on Germany, the  UK and France.

According to the European Heart Network, cardiovascular disease (CVD) causes 3.9mln deaths in Europe annually and accounts for 45% of all deaths in Europe, so the opportunity is vast here.

The group has been enjoying a positive run of news on progress of late.

Desmond Hirson was promoted to president last month and it filed a patent to claim the invention of a small, low-cost device that attaches or is encased in any hand-held probe or ultrasound transducer, which it says will reduce the future cost of the VMS-Plus.

So what is the VMS Plus?

This is a technology, which will potentially revolutionize the way doctors treat heart patients as it can give accurate and rapid volumetric information about all four chambers of the heart.

It is the only technology in the world that can perform such an analysis of all four chambers using data from a conventional 2D (two dimensional) eco-cardiogram (in other words an ultrasound test).

The heart is a pump so when there is a problem it is not always easy to know where exactly the fault lies, so analysis of each chamber is essential.

Accuracy and precision..

"This is going to revolutionize the way people get treated because of its high accuracy and precision - equivalent to an MRI," Adams has said previously.

So rather than the doctor trying to decipher the 2D ultrasound image, the VMS Plus gives hard data about the pump's function and deterioration rates, or improvements, which means the treatment can be much more accurate and appropriate.

Expansion plans in place..

In November, the group revealed it was putting expansion plans in the Middle East in  place.

It struck a partnership with the  SEED Group, which is a group of firms owned The Private Office of Sheikh Saeed Bin Ahmed Al Maktoum of Dubai, United Arab Emirates.

"The SEED Group has already introduced us to leading cardiologists and hospitals in the region, who have expressed their interest in acquiring the VMS-PLUS and demonstrating its application within the healthcare environment," said Dr Adams.

"We see Dubai as an excellent starting place for our expansion plans into the Middle East."

Last summer, the firm hired  two experiences sales executives - Brian Leck was appointed vice-president of direct worldwide sales, while Mehran Mehrtash became vice-president, worldwide distributor sales.

In September, the firm said that interest in VentriPoint products is strong from Iran, Singapore, Thailand, UAE and Saudi Arabia, and that regional distributors were verifying the local pathway to regulatory approval.

The firm  has also said that once it has the key CE mark for Europe in place, it will advance in those markets.

US markets to come..

A third phase will be US markets, it ha said.

"We are expecting marketing clearance for the 4-chamber VMS sometime in early 2018. At that time, we will implement our launch strategy regarding representatives, locations and defining regional initiatives."

Shares today gained nearly 11% in Toronto to stand at C$0.355 each.

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