SEATTLE, WASHINGTON--(Marketwire - May 4, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

VentriPoint Diagnostics Ltd. ("VentriPoint" or the "Corporation") (TSX VENTURE:VPT) (OTCQX:VPTDF) is pleased to announce that it has received approval from Health Canada for VentriPoint's new Pulmonary Arterial Hypertension ("PAH") application for the VentriPoint Medical System™ ("VMS™").

The VMS™ is easier and more convenient than Magnetic Resonance Imaging (MRI) and safer than invasive arterial catheterization, which are two standard methods to monitor PAH patients. The PAH application enables repeated monitoring of the right ventricle and will assist in making sure PAH patients receive appropriate treatment in a timely manner.

"Many Canadian cardiologists have been inquiring about when the PAH application would be available in Canada. I am very pleased that we can now respond to growing demand in the Canadian market", said Dr. George Adams, President and CEO of VentriPoint.

It is estimated that 10,000 Canadians have been diagnosed with PAH and many more people are in the early stages and undetected. There are 18 specialized clinical centres in Canada and numerous smaller clinics to treat these patients. VentriPoint intends to approach all of these centres to offer the VMS™ PAH application.

VentriPoint announced on March 29, 2012 that it had received approval to market its PAH application in Europe. As a result, VentriPoint's European sales team has been taking orders and installing VMS™ heart analysis systems across the continent. The Company also announced on May 2, 2012 that it has initiated its clinical trial to secure US FDA approval to market its PAH application in the United States.

The Corporation also announces that, further to its press release of May 1, 2012 regarding its previously announced private placement of units, in the second closing of the private placement the Corporation may pay a commission of up to 10% of the gross proceeds from the sale of units either in cash or by the issuance of units, as well as a number of agent's options that is up to 10% of the number of units sold pursuant to the private placement, all subject to TSX Venture Exchange approval and compliance with applicable securities laws.

About VentriPoint Diagnostics Ltd.

VentriPoint has created a diagnostic ultrasound tool to monitor patients with heart disease, a leadingcause of death in developed countries. Management believes the VMS™ is the first cost-effective andaccurate diagnostic tool for measuring right ventricle heart function. Congenital heart disease is the firstapplication 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 marketpotential. 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 nothistorical 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 acurrent 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 newevents or circumstances. Although management believes that expectations are based on reasonable assumptions, no assurance can be given that these expectations will materialize.

The common shares of the Corporation have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold in the United States or to "U.S. persons," as such term is defined under Regulation S promulgated under the U.S. Securities Act, absent registration under such laws or pursuant to an exemption from registration therefrom.