Ventripoint Diagnostics (TSXV: VPT) this morning announced that it has installed its first VMS+3.0 whole-heart analysis system into a US hospital. The device was installed at the University of Texas MD Anderson Cancer Center, one of the worlds most respected centers focused entirely on cancer. The facility has been ranked one of the top two hospitals for cancer every year for thirty consecutive years.
While being the first device installed in the United States, it was also the first device to be installed remotely, demonstrating the universality of the installation process. This is a key feature given current global restrictions as a result of the ongoing pandemic, as it does not limit the company in terms of revenue generation, nor in terms of deploying additional devices to assist in patient care.
Furthermore, the devices bound for the US have had a key modification in that they are fitted with a workstation. This change enables remote analysis of the echocardiogram to be conducted by the cardiologist, after the ultrasound has been conducted by a sonographer. This enables a viewing room to be utilized by the cardiologist, whereas the European tradition is for the cardiologist to conduct the entire appointment. The modifications enable hospitals to maximize patient throughput, lowering the barriers to adoption for the device across North America.
The company has maintained its estimate calling for 40,000+ VMS+3.0 devices being required to diagnose and monitor patients with heart conditions in North America and Europe. These estimates do not include the potential uses in the face of COVID-19, and the impacts that the disease is believed to have long-term on the condition of the heart.
Ventripoint Diagnostics last traded at $0.14 on the TSX Venture.
FULL DISCLOSURE: Ventripoint Diagnostics is a client of Canacom Group, the parent company of The Deep Dive. The company has been compensated to cover Ventripoint Diagnostics on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
