VentriPoint Diagnostics Ltd.

TSX VENTURE : VPT


VentriPoint Diagnostics Ltd.

November 15, 2010 09:00 ET

VentriPoint Diagnostics Appoints VP Sales & Business Development

SEATTLE, WASHINGTON--(Marketwire - Nov. 15, 2010) - VentriPoint Diagnostics ("VentriPoint") (TSX VENTURE:VPT), a company focused on better ways to monitor right heart function in children and adults, today announced the appointment of Amol S. Karnick as Vice-President, Sales and Business Development. 

Commenting on the appointment, VentriPoint's CEO, Dr. George Adams stated, "This announcement clearly illustrates we are ready to move aggressively on commercializing our heart diagnostic technology. Amol was an important member of the General Electric Ultrasound imaging group with responsibilities for mergers and acquisitions. As well, he helped build a global sales and support group focused on ultrasound technology. In short, he has the ideal skill set to spearhead the launch of the VentriPoint Medical System ("VMS")."

Amol has over 18 years of medical imaging experience, which has included: 

  • Over 7 years experience at GE Healthcare in various roles, including mergers and acquisitions where he helped drive $150 million in imaging sales as well as integrating 4 companies.

  • Chief Operating Officer for Sentinelle Medical Incorporated and General Manager at Ultrasonix Medical Corporation, both of which are focused on medical imaging.

  • Global expertise and experience working with multiple cultures around the world.

  • Masters in Electrical Engineering (ultrasound) from McGill University.

About VentriPoint Diagnostics Ltd. VentriPoint has created a diagnostic ultrasound tool to monitor patients with heart disease, a leading cause of death in developed countries. VMS is the first cost-effective and accurate diagnostic tool for measuring right ventricle heart function. Congenital heart disease in children is the first application in a suite of applications for all major heart diseases including pulmonary hypertension, cardiovascular disease and heart failure - a multibillion dollar market potential. Canada and Europe (CE Mark) have granted approval for the sale of its VMS diagnostic tool and a 510(k) submission is currently being reviewed by the U.S. Federal Drug Administration.

FORWARD-LOOKING STATEMENTS: The statements made in this press release that are not historical 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 a current 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. The Corporation undertakes no obligation, and does not intend, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events. Although management believes that expectations are based on reasonable assumptions, no assurance can be given that these expectations will materialize.

Neither 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 release

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