VentriPoint Diagnostics Ltd (CVE:VPT) says it has extended its reach into the potential heart imaging market.
The Toronto-based medtech group said that its VMS+ software approved for analysis of all four chambers of the heart can be used for the analysis of 3D echo images generated by any commercially available 3D echocardiography system.
READ: VentriPoint Diagnostics receives order for its VMS Plus - from leading cardiac hospital in Toronto
"This extends our product line to a software solution that increases our footprint in the cardiac medical imaging market," added the firm in a brief regulatory statement.
Ventripoint's heart analysis machine provides medics with a more efficient and cost-effective method for evaluating cardiac volumes and ejection fractions.
Its accuracy already matches that of the MRI (Magnetic resonance imaging (MRI) scan), the gold standard, so there is a significant opportunity for this unique piece of equipment in the market.
"We are looking forward to offering cardiac centres the opportunity to purchase the VMS+ Software to complement their existing 3D echo equipment," said Desmond Hirson, president of Ventripoint Diagnostics.
Ventripoint's strategy is to build value for customers by providing tools to improve clinical outcomes and standard of care for pediatric and adult cardiac patients.
Last week, the group unveiled another boost for its technology - an agreement with the Government of Canada to develop further its heart monitoring system.
The National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) will provide advisory support and conditional funding to share costs of a project designed to accelerate the company's VMS+ system's next-generation product.
Shares are at $0.185 in Toronto at the time of writing.
Contact Giles Gwinnett at [email protected]
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