RE:Awesome Update !!!Dear Friend;
Attached is a news release updating you on the progress the Company is making in deploying the VMS+ into major cardiac hospitals. Here is some background
1. At the beginning of the year, we targeted to have VMS+ systems in 25-30 hospitals by year end. At the time, the winter-2021 wave of COVID was expected to come under control over the spring and summer, which it did in many countries.
2. With an installed base of 21 units and the addition of these 4 more units, we will hit the lower end of the targeted range. This demonstrates the recognition by leading hospitals that they need to upgrade their cardiac diagnostic capabilities.
3. As we all know a new wave started in fall 2021 and is still going on and recently getting worse so we are very pleased to continue to receive orders for the VMS+ and be able to remotely install these devices in spite of the continuing focus in hospitals on the COVID pandemic.
4. We are expecting more orders before the year end but there is simply not enough time to schedule an installation by year end, so we will do these early in 2022.
5. We manufacture these devices in our own facility in Toronto and have all the components to manufacture devices for the foreseeable future and are pre-ordering parts as we are noticing longer delivery times for our vendors.
6. Each new site using the VMS+ expands our ability to use these sites as reference centres for potential new customers as each site is a major center in their region. The units are going to hospitals in Canada, UK and USA and as soon as they give permission, we will announce the locations.
7. We have other hospitals which have a VMS+ unit already being used and we are waiting for permission to name them as well. Every hospital is different and some have to even clear the news release with a local government agency. It takes time, which is frustrating as we would like our shareholders, patients and other doctors to be aware of the improved capabilities within their region.
8. There is a tremendous backlog of cardiac patients who have not had regular echocardiograms for many months and it is well documented more of these people are dying as a result. Add to this the need for cardiac ultrasound in the majority of patients with long-COVID symptoms and the need for a rapid accurate system to measure the function of all four chambers of the heart is critical to ongoing cardiac care.
9. A Canadian Radiological group has estimated the backlog for imaging services in Canada will take 43 months to clear with existing facilities and that did not include the need for long-COVID patients.
10. After these new deployments are completed, the installed base will be about evenly split between adults and children and include applications to congenital heart disease (CHD), pulmonary hypertension, cancer, high-risk pregnancy, valvular dysfunction, acute and long COVID, diastolic heart failure and general cardiology.
As usual, thank you for your continued interest and support as we change the way cardiac diagnostics are performed for everyone worldwide and especially for children - one hospital at a time.
Regards,
Dr. George Adams ICD.D
Executive-Chairman
Ventripoint Diagnostics Ltd.
TSXV-VPT