VentriPoint Diagnostics shares nudge higher as it updates on sales efforts

VentriPoint Diagnostics Ltd (CVE:VPT) updated on  progress for its VMS+ heart analysis system, revealing it has five  pending sales, nudging shares higher.

Last month, the medtech group said the renowned MD Anderson Cancer Center in Texas had ordered the VMS+ system to evaluate cancer patients.

Today, it said a second machine will be installed at the hospital in a few weeks and will be used for routine clinical assessment of oncology patients to determine cardiac changes during and after treatment.

Ventripoint has also installed the first VMS+ in Edmonton at the University of Alberta Mazankowski Alberta Heart Institute , where it is being used with oncology patients, who require contrast-enhanced ultrasound imaging.

It is also being employed on women with normal and high-risk pregnancies.

“The company has 5 pending sales where the cardiology department has an approved budget to purchase the VMS+ and the company is awaiting a purchase order,” Ventripoint said in a regulatory release today.

“Each of these new users are recognized leaders in cardiac care and will be using the VMS+ for routine applications as well as research into expanding the application of the VMS+ to inform the best treatment path to be taken for each patient.”

The firm has also recently exhibited at conferences in Toronto and in Nashville, Tennessee, where there were a combined 3,000 attendees, and identified a number of potential customers.

“The sales team is following up with these contacts and reaching out to 300 clinical centers, which have a profile of patients where the VMS+ would provide significant benefits to their cardiac service.

“Capital purchases require a long process for budget approval, as well as signoff by a number of hospital departments, such as bioengineering and IT, before a purchase order is generated,” it noted.

Shares in VentriPoint added 4.35% in Toronto to C$0.24.

Story by ProactiveInvestors