Health & Fitness
Health and Fitness
Health and Fitness
Wed, February 15, 2012
VentriPoint VMS(TM) Heart Analysis System Installed at the Largest Children's Hospital in Netherlands
February 15, 2012 07:00 ET
VentriPoint VMS™ Heart Analysis System Installed at the Largest Children's Hospital in Netherlands
Corporation Also Announces Grant of Options and Deferred Stock Units
SEATTLE, WASHINGTON--(Marketwire - Feb. 15, 2012) - VentriPoint Diagnostics Ltd. (TSX VENTURE:VPT) (PINKSHEETS:VPTDF) has installed its latest version of the VMS™ heart analysis system at ERASMUS MC SOPHIA (Sophia) Children's Hospital in Rotterdam, Netherlands. Sophia will introduce the VMS™ system into routine clinical use for Tetrology of Fallot (Blue Baby Syndrome) or Systemic Right Ventricle patients, under the supervision of Dr. Willem Helbing and Dr. Laurens Koopman.
"The VentriPoint system combines the best of both worlds: the ease and availability of 2D echo and the intrinsic 3D information of the MRI acquired shapes of the right ventricle in the database. We anticipate a reduction of the need for (expensive) cardiac Magnetic Resonance Imaging (MRI) for the purpose of assessment of right ventricle volumes", said Dr. Helbing.
Dr. Helbing is the Head of Pediatric Cardiology for Sophia, and has a history with VentriPoint as he was an early collaborator and provided valuable insight into the product development. VMS™ uses Knowledge Based Reconstruction (KBR) to accurately create the surface volume of the right ventricle. KBR is based on a library of hearts that are disease specific. Dr. Helbing provided guidance and MRI heart images that VentriPoint incorporated into its heart libraries for Tetrology of Fallot and Systemic Right Ventricle.
"Dr. Helbing was one of the first people I called when I joined VentriPoint," said Dr. George Adams, CEO of VentriPoint. "It is wonderful we can now supply him with the newest version of the VMS™ which meets his clinical needs."
Approximately, 0.8% of the live births in the Netherlands are born with some form of congenital heart disease. The more severe cases require life-long monitoring of their right ventricle.
The Corporation also announces that it has granted 2,550,000 options to certain officers of the Corporation. The options are exercisable at $0.17 per share until the fifth anniversary date of the grant. In addition, the Corporation announces that it has granted a total of 450,000 Deferred Stock Units (DSU) to certain directors. Under the terms of the Corporation's Deferred Share Unit Plan, holders of DSU may redeem each DSU for one share of Common Stock upon the termination of their services to the Corporation at no cost to the holder.
About Dr. Willem Helbing
Dr. Helbing has combined a clinical career as paediatric cardiologist with a research interest in ventricular function in congenital heart disease. He has used various models and techniques, particularly MRI, to study right and single ventricular function in children and young adults with congenital heart disease. He currently is a professor in paediatrics and Head of Paediatric Cardiology at Erasmus University Medical Center and Sophia Children Hospital.
About Erasmus MC
Erasmus MC is the largest and most versatile of the eight university medical centers in the Netherlands. Erasmus MC wants to further extend its international reputation and become one of the twenty best medical institutes in the world by 2013. The organization consists of over fifty departments. Each department contributes to Erasmus MC's three core tasks: patient care; research; and education.
About VentriPoint Diagnostics Ltd.
VentriPoint has created a diagnostic ultrasound tool to monitor patients with heart disease, a leading cause of death in developed countries. Management believes the VMS™ is the first cost-effective and accurate diagnostic tool for measuring right ventricle heart function. Congenital heart disease is the first application in a suite of applications for all major heart diseases including pulmonary hypertension, cardiovascular disease and heart failure, which management believes has a multibillion-dollar market potential. Canada and Europe (CE Mark) have granted approval for the sale of VentriPoint's VMS™ heart analysis system and VentriPoint is pursuing the US-FDA approval through the 510(k) process.
FORWARD-LOOKING STATEMENTS: The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address VentriPoint's expectations, should be considered forward-looking statements. Such statements are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect a current view of future events and are subject to certain risks and uncertainties as contained in the Corporation's filings with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results could differ materially from those anticipated in these forward-looking statements. These forward-looking statements are made as of the date of this press release and, other than as required by applicable securities laws, the Corporation does not assume any obligation to update or revise them to reflect new events or circumstances. Although management believes that expectations are based on reasonable assumptions, no assurance can be given that these expectations will materialize.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
