VPT:CC - Ventripoint Begins 2024 with Leadership Change
(TheNewswire)
Toronto, Ontario – TheNewswire - February 05, 2024 -Ventripoint Diagnostics Ltd. (" Ventripoint " orthe " Company "), ( TSXV:VPT ) ( OTC:VPTDF ) is pleasedto announce the appointment of a new Interim CEO and President, HughMacNaught, who has been serving on the Ventripoint Board of Directorssince 2020 and is a proven leader in biotech commercialization.
As the Company enters its next phase of customeradoption and commercialization of Ventripoint’s groundbreaking AItechnology, Mr. MacNaught brings 30 years of experience in developingand commercializing medical technologies. He will be dealing directlywith the Company’s partners, as well as potential and currentcustomers, who are now using Ventripoint’s A.I.-powered technologyto turn ultrasound images into MRI-quality images of the heart.
The Company wishes to thank Dr. Alvira Macanovic, whohas served as Ventripoint’s CEO and President over the last 13months and has been instrumental in advancing the technology andcurrent partnerships.
“Ventripoint is now poised tofocus on driving clinical awareness and adoption of our AI technologyby the world’s healthcare providers,” saidMr. MacNaught, Interim CEO and President. “I look forward to bringing thisinnovation in A.I. health care to hospitals and patients around theworld.”
Ventripoint’s patented A.I.-powered technology turnsultrasound scans of the heart into MRI-quality images. The technologyallows A.I. heart scans to be taken in minutes, at a fraction of thecost of an MRI, alleviating waiting lines and capital costs in thehealth care system.
Aside from being an inexpensive alternative,Ventripoint technology is also ideal for use with infants and childrenwho often can’t be given an MRI because of the need for sedation orcontrast media as well as the requirement to remain motionless. Also,VMS+ may be a suitable alternative for adult patients with pacemakerssince many of these devices are not MRI-compatible.
“I want to thank the entireVentripoint team, who have spent many years helping us bring our A.I.technology to major hospitals and heart-care teams in Canada, Europeand the United States,” said Ventripoint BoardChair Dr. George Adams. “AsHugh moves into the Interim CEO and President role and continuesbuilding new partnerships and sales, the Board will start a search fora permanent CEO and President.”
Added MacNaught: “I’m excited about the months ahead. We expect to launch ournext version of Ventripoint’s A.I. heart-imaging technology in thespring, following FDA clearance. This next version is even simpler touse and integrates easily into the diagnostic workflow of hospitalsand clinics.”
MacNaught is a seasoned entrepreneur with over 30 yearsof experience founding, building, and managing medical productcompanies. His career includes roles withinmultinational corporations including Nordion Healthcare Solutions LLC(Atomic Energy of Canada Limited), Eastman Kodak Company, BoehringerMannheim GmbH (Roche), and Philips Corporate Technologies, and theventure capital industry. A serial entrepreneur, he has founded,financed and led several ventures and is a mentor in theentrepreneurship programs at Simon Fraser University and theUniversity of British Columbia. He brings directexperience with diagnostics and medical AI technologies and looksforward to leveraging his broad commercial experience and leadershipin the medical technology sector to drive growth for the Company.
About Ventripoint DiagnosticsLtd.
Ventripoint has become anindustry leader in the application of AI (Artificial Intelligence) toechocardiography. Ventripoint's VMS products are powered by itsproprietary KBR technology, which is the result of a decade ofdevelopment and provides accurate volumetric cardiac measurementsequivalent to MRI. This affordable, gold-standard alternative allowscardiologists greater confidence in the management of their patients.Providing better care to patients serves as a springboard and basicstandard for all Ventripoint's products that guide our futuredevelopments. In addition, VMS+ is versatile and can be used with allultrasound systems from any vendor supported by regulatory marketapprovals in the U.S., Europe and Canada.
For further information, pleasecontact:
Jonathan Robinson CFA
(416) 669-1001
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this news release.
Forward Looking Statements
This news release contains forward-looking statementsand forward-looking information within the meaning of applicablesecurities laws. The use of any of the words "expect","anticipate", "continue", "estimate","objective", "ongoing", "may","will", "project", "should","believe", "plans", "intends'' and similarexpressions are intended to identify forward-looking information orstatements. The forward-looking statements and information are basedon certain key expectations and assumptions made by the Company. Although the Company believes that the expectationsand assumptions on which such forward-looking statements andinformation are based are reasonable, undue reliance should not beplaced on the forward-looking statements and information because theCompany can give no assurance that they will prove to becorrect.
Since forward-looking statements and informationaddress future events and conditions, by their very nature theyinvolve inherent risks and uncertainties. Actual results could differmaterially from those currently anticipated due to several factors andrisks. Factors which could materially affect such forward-lookinginformation are described in the risk factors in the Company's mostrecent annual management's discussion and analysis that is availableon the Company's profile on SEDAR+ at www.sedarplus.ca. Readers arecautioned that the foregoing list of factors is not exhaustive. Theforward-looking statements included in this news release are expresslyqualified by this cautionary statement. The forward-looking statementsand information contained in this news release are made as of the datehereof and the Company undertakes no obligation to update publicly orrevise any forward-looking statements or information, whether becauseof new information, future events or otherwise, unless so required byapplicable securities laws.
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