Toronto, Ontario – TheNewswire – December 14, 2022 - Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Company"), (TSXV:VPT); (OTC:VPTDF) is pleased to provide a corporate update.
Nine distributors appointed in USA to cover the entire country to join UK and European distributors for a total of 11 distributors,
Sales team now has 33 sales and marketing representatives across the USA, Europe and UK,
6 purchases have been made year to date and 5 more expected by the end of January to add to the 29 deployed VMS+ units to achieve 40 committed units.
Sales, Marketing and Distribution
The Company has aggressively marketed its VMS+ products at 12 medical conferences this year and engaged hundreds of clinicians. The Company had set a target of 40-45 systems committed to customers by year end. The company has received 6 purchase orders year to date, including orders from Europe, UK, and United States, has 3 installations being arranged and 5 more purchase orders are expected by end of January.
The Company has completed arrangements with 9 regional distributors in the USA, which taken together cover the entire country (see listing on the company’s website). These US-based distributors plus our UK (CardioLogic) and European distributor (AngioPro) and internal staff forms a team of 33 representatives calling on cardiologists. All these representatives are now fully trained and actively following up with their existing customers, as well as the regional leads which were acquired from medical conferences.
With the assistance of our distributors and our internal sales force, the Company now has a list of over 4,000 cardiologists who have a practice where the VMS+ would improve their ability to assess and monitor their patients In addition, our sales team (direct and distributor) already have a relationship with all these potential customers in US, UK and Europe. Hence, the Company now has a full funnel of leads. Our sales team has been actively scheduling appointments to make them aware of the clinical benefits of the VMS+.
The Company continues to be actively working with General Electric HealthCare Corporation (GEHC) through their Edison Development Program1 to bring our cardiac analysis tools to their existing customer base. GEHC is currently being spun out to become a stand-alone company to allow tailored decisions in line with distinct strategies and industry-specific dynamics to accelerate growth across the continuum of care with focused organic investment and strategic M&A.2
Ventripoint Diagnostics has contracted Greg Granato who is based out of Naples, Florida for investor-relation services, subject to approval by the TSXV Exchange. Greg Granato will receive 500,000 options, which vest quarterly with ascending exercise prices from 30-70 cents.
About Ventripoint Diagnostics Ltd.
Ventripoint has become an industry leader in the application of AI (Artificial Intelligence) to echocardiography. Ventripoint's VMS products are powered by its proprietary KBR technology, which is the result of a decade of development and provides accurate volumetric cardiac measurements equivalent to MRI. This affordable, gold-standard alternative allows cardiologists greater confidence in the management of their patients. Providing better care to patients serves as a springboard and basic standard for all of Ventripoint's products that guide our future developments. In addition, 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.
For further information, please contact:
Dr. George Adams
Neither the 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 news release.
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends'' and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis that is available on the Company's profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws
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