Dear Friend;
Attached is today’s news release and here is some background:
1. We first announce a research collaboration with Ascend (https://ascendcv.com) to explore integrating our VMS+3D software into their platform in August last year. Ascend Cardiovascular has over two decades of experience in cardiovascular IT and is an expert in cardiology workflow.
2. We then announced a year ago an agreement to go ahead with this integration as a joint project as the technical research confirmed it could be done and over the last year, we have made the integration even easier as we continued to evolve the VMS+ from version 3.2 to version 4.0. Ascend has done extensive market research with some of their ~50,000 users and determined better analytics for 2D and 3D scans was desired.
3. Today were have announced that Ascend and Ventripoint have decided that the best approach would be for Ascend to license the VMS+ technology (both 2D and 3D versions) for integration.
4. This is a big vote of confidence in the market need for the integrated system to both provide first-class workflow as well as first-class analytics for both 2D and 3D echocardiograms.
5. We also are hearing more and more from top cardiologists that the existing analytics for echocardiograms is simply not good enough and 40-50% of patients will not or cannot take an MRI exam.
6. Ascend is a very good fit for Ventripoint as it has a large paediatric customer base, who immediately understand the benefits of an accurate, whole-heart analysis, which the VMS+ provides.
7. We have agreed on the terms and conditions of the license and will work over the next 30 days to execute final agreements.
8. This is a non-exclusive license so we can go forward with other partners to drive adoption of the VMS+.
As always, I thank you for your support and interest as we continue to improve cardiac care for everyone everywhere, and especially for children born wait a heart defect.
Regards,
Dr. George Adams ICD.D
Executive-Chairman
Ventripoint Diagnostics Ltd.
TSXV-VPT