Ventripoint receives purchase order from Lishman

Executive Summary

• Ventripoint Diagnostics Ltd. has secured its first purchase order from Lishman Global Inc. for its VMS+ technology, marking a significant commercial milestone for the company.
• The technology will be integrated into six hybrid echocardiography systems in the People's Republic of China, specifically designed to support technology demonstration, clinical validation, and regulatory submission to the China Food and Drug Administration (CFDA).
• This agreement builds upon previous CFDA approvals for the VMS+ product (specifically for right ventricle analysis) and aims to expand functionality to all four cardiac chambers to address the large cardiovascular diagnostic market in China.

Key Details

• Transaction: First purchase order received by Ventripoint from Lishman Global Inc.
• Product: VMS+ technology (proprietary AI enhancement to echocardiography).
• Application: Integration into Lishman’s hybrid echocardiography image platform.
• Quantity: Six hybrid echocardiography systems.
• Geographic Focus: People's Republic of China.
• Strategic Purpose: The systems are built to support:
  • Technology demonstration.
  • Clinical validation.
  • Regulatory submission to the China Food and Drug Administration (CFDA).
• Regulatory Context: Lishman’s Chinese subsidiary previously received CFDA approval and a Certificate of Production (CoP) for VMS+ used for right ventricle (RV) analysis only. This new order expands the scope to include all four cardiac chambers.
• Market Opportunity: China has 32,000 hospitals and an aging demographic; cardiovascular disease accounts for ~23% of hospital admissions (nearly double the North American rate). Echocardiography is frequently mandated prior to surgical procedures.
• Partnership Role: Lishman Global assists foreign companies in navigating Chinese regulatory approvals and distribution channels.

Notable Quotes

• Hugh MacNaught, President and CEO of Ventripoint: "We look forward to working with our Chinese partners to include the newer capabilities of VMS+ into their hybrid echo product... Expanding functionality to all four cardiac chambers will provide greater accuracy of echo studies for a wider range of cardiopulmonary indications. Ventripoint's proprietary AI enhancement to echocardiography is an important tool for healthcare systems globally. It enables the enhancement of the vast installed base of echocardiography systems to deliver accurate, affordable and accessible cardiac imaging."
• Paul Gibson, CTO of Lishman: "We are excited to work with Ventripoint to begin the work of integrating VMS+ within our new products, securing CFDA approval and building awareness of our new solutions to the Chinese clinical community."