Toronto, Ontario – TheNewswire - December 18, 2024 - Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Company"), (TSXV:VPT; OTCQB:VPTDF) is pleased to announce Ventripoint and ASCEND Cardiovascular, a leading provider of cardiovascular IT solutions, have signed a term sheet defining the general terms and conditions for a non-exclusive license to Ventripoint’s VMS+ proprietary technology.  The two parties expect to execute the license agreement within 30 days.

ASCEND Cardiovascular has over two decades of experience in cardiovascular IT and is leader in cardiology workflow solutions. ASCEND’s clinical reporting, device interfaces, and analytics are used daily by some of the top institutions and hospital systems in North America. ASCEND has introduced Gen3EchoTM, a first of a kind, comprehensive platform that combines Artificial Intelligence and Machine Learning technology to accelerate, simplify and automate echo workflow.

"ASCEND is on a mission to provide a powerful, fully integrated, best-of-breed echocardiography workflow solution to its customers,” stated Dr. Jeff Soble, CEO of ASCEND Cardiovascular. “Integration of Gen3EchoTM with Ventripoint's innovative solution for 3D visualization, and in particular their unique ability to synthesize 3D images from 2D echo data, will provide tremendous value to paediatric and adult echocardiographers in the care of their most complex patients."

ASCEND intends to fully integration Ventripoint’s VMS+ technology with ASCEND’s Gen3EchoTM platform. This agreement is the next natural step for ASCEND and Ventripoint as they both move to enhance cardiovascular diagnostics and improve patient care. The objective of this agreement is to fully align VMS+ with Gen3EchoTM workflow to improve diagnostic accuracy, streamline workflows, and enhance patient experience in cardiovascular imaging.

“Under the existing letter of intent, we demonstrated the attractiveness of the combined Gen3EchoTM and VMS+ offering,” said Hugh MacNaught, President & CEO of Ventripoint. “This licensing agreement takes us to a deeper level of integration, offering customers a seamless experience leveraging both best-in-class solutions. Our teams continue to work closely together to fully integrate our VMS+ technology into ASCEND’s Gen3EchoTM platform. We will work with ASCEND on commercialization of this new initiative, beginning with a combined outreach to paediatric centres.”

Ventripoint and ASCEND have highly complementary technologies and capabilities within the field of cardiovascular imaging. ASCEND possesses clinical and industry knowledge, proprietary structured reporting, and its zero-footprint DICOM viewer honed for echo automation and advance analysis. Ventripoint provides proprietary AI-based diagnostic technologies, research capabilities, and technical expertise in cardiovascular imaging and analysis. The combination of the unique expertise and resources of both companies enable novel solutions that address existing challenges within clinical practice.

About Ventripoint Diagnostics Ltd.

Ventripoint is an industry leader in the application of AI (Artificial Intelligence) to echocardiography. Ventripoint's VMS+ products are powered by its proprietary Knowledge Based Reconstruction technology, which is the result of a decade of development and provides accurate volumetric cardiac measurements with cMRI levels of accuracy. This affordable, gold-standard alternative allows cardiologists greater confidence in the management of their patients. VMS+ is versatile and can be used with all ultrasound systems from any vendor supported by regulatory market approvals in the U.S., Europe and Canada.

Learn more: www.ventripoint.com

About Ascend Cardiovascular

ASCEND Cardiovascular is a leader in innovating cardiovascular solutions that empower the provider community to improve cardiovascular care. Designed with openness in mind, our solutions integrate with EHRs, medical devices, and other systems to deliver seamless workflows that span procedure types and modalities. A complete cardiovascular solution, ASCEND provides structured reporting, image visualization, collaboration, and analytics that improve efficiency, outcomes, and ROI. With decades of experience and a practicing cardiologist at our helm, the ASCEND team brings unparalleled “know how” in cardiology workflow, collaboration, and IT offering limitless opportunities to improve clinical, operational, and quality performance.

Learn more: www.ascendcv.com.

For further information, please contact:

Hugh MacNaught

President and CEO

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(604) 671-4201

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