(TheNewswire)
Toronto, Ontario - The Newswire -February 16, 2021 - Ventripoint Diagnostics Ltd. (" Ventripoint " or the " Company "),(TSXV:VPT ) ( OTC:VPTDF) ispleased to provide a corporate update on sales and marketingactivities in China by our joint-venture partner Yutian MedicalShanghai Inc. (“ Yutian ”) .
Yutian has informed the Company that it has achieved anumber of milestones in its path from development tocommercialization. Some of these developments are noted herein. Yutianhas developed a series of products based upon Ventripoint’sknowledge-based reconstruction technology under the name QAS™ tospecifically meet the demands of the Chinese market using componentssourced in China. They have built and obtained a license for amanufacturing facility in Ma-anshan. The QAS(right ventricle only) has received Chinese FDA (“CFDA”) approvaland the QAS analysis procedure has been added to the provincialmedical billing catalog in Anhui Province (a province of 62 millionpeople).
With market clearance obtained, 2020 was a verysuccessful and foundational year for Yutian’s marketing efforts inChina. They successfully installed the QAS in the hospitals of the topthree medical universities in Anhui Province, as well as leadinghospitals in the cities of Shanghai( one of the four direct-administered municipalities with 27 million people ), Hangzhou (capital city of Zhejiang province with 57 millionpeople), Wenzhou and Zhengzhou (capital city of Henan province with 94million people). A total of 8 QAS machines are currently operationalin China.
In addition, Yutian has appointed tier-1 distributorsin major regions throughout China and is currently setting salestargets for 2021.
“China continues to have the most deaths due tocardiovascular disease with a doubling in the last 30 years (reference1, below),” stated Dr. George Adams, Executive-Chairman ofVentripoint. “An international group of world-renown cardiologists(2) has recently recommended an increase in non-invasive screening aswell as risk-factor reduction as the only viable way to deal with thishealthcare crisis.”
Ventripoint continues to support Yutian withengineering and development expertise, advanced training andregulatory support to upgrade the approvals in China to 4-chamberanalysis and other features already available on the VMS+ 3.0.
About Cardiovascular Disease (CVD) inChina
Heart disease is the leading cause of death worldwide-- accounting for approximately one-third of deaths in 2019. Chinahad the highest number of heart disease deaths, followed by India,Russia, the United States and Indonesia ( 2) . China is rapidly aging due to a birth boom during the 1950sto 1970s, which was followed by a long period of imposed 1 childpolicy (1) . Currently, >16% of the population is age 60 years ormore, and this proportion is projected toincrease to 35% by 2050. The combination of population growth andaging are expected to contribute at least another 3.4 million deathsfrom CVD over the next 2 decades, and related costs are projected toincrease by USD $7.8 trillion from 2012 to 2030 ( 1) .
China has twice the rate of hypertension and cardiacmortality as the United States due to known risk factors. Thislatest review paper (2) recommended “risk reduction for avoidingdangerous patterns of alcohol consumption, preventing smoking,adopting diets low in added sugar, sodium, and harmful fats, andmaintaining a healthy weight beginning early in life. Effective andaffordable clinical strategies remain overlooked by health systems astargets for investments, including methods for non-invasivescreening.”
There are 34,000 hospitals in China and 1,000 newhospitals being built each year (www.statista.com/statistics). Therate of admissions for CVD in China is almost twice that for theUnited States and Europe as China has been unsuccessful in changingpeople’s habits and so provides critical cardiac care (1) .
(1) Epidemiology of Cardiovascular Disease in China andOpportunities for Improvement: J Am Coll Cardiol . 2019, Jun , 73(24) 3135–3147
(2) Global Burden of CardiovascularDiseases and Risk Factors, 1990–2019 : J Am Coll Cardiol . 2020, Dec, 76 (25) 2982-3021)
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 of 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:
Mr. Jonathan Robinson
Email :JRobinson@oakhillfinancial.ca
Phone: (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 expectations and assumptions onwhich such forward-looking statements and information are based arereasonable, undue reliance should not be placed on the forward-lookingstatements and information because the Company can give no assurancethat they will prove to be correct.
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 a number of factorsand risks. 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.sedar.com. 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 as aresult of new information, future events or otherwise, unless sorequired by applicable securities laws.
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