VentriPoint Diagnostics Ltd.

VentriPoint Diagnostics Ltd.

July 21, 2011 07:00 ET

Don Black and Hugh Cleland Join the Board of Directors of VentriPoint Diagnostics

SEATTLE, WASHINGTON--(Marketwire - July 21, 2011) - VentriPoint Diagnostics Ltd. ("VentriPoint") (TSX VENTURE:VPT)(PINK SHEETS:VPTDF) is pleased to announce that Mr. Don Black and Mr. Hugh Cleland have been appointed to the Board of Directors of VentriPoint. Mr. Black was elected at the Annual General Meeting (AGM) along with the re-election of Mr. Treuman Katz, Danny Dalla-Longa, Brad Harlow and Dr. George Adams. Mr. Cleland was appointed by the Board to a newly-created position.

"The addition of Don Black with his National US Healthcare expertise and Hugh Cleland with financial markets experience will strengthen the Board as the Company embarks on the next level of commercialization in the United States and globally", commented Mr. Treuman Katz, Chairman of the Board for VentriPoint.

"I look forward to playing a role in VentriPoint's development and success. In the first two indications being commercialized, it is remarkable to see the ability of the technology to make the diagnosis and management of heart disease more efficient, convenient and less expensive. Because it is more convenient, less time consuming and less expensive, it will be used more often, and in a broader array of cases than existing modalities, and should therefore lead to earlier diagnoses, while simultaneously saving money for the healthcare system," said Hugh Cleland. "I also like the potential to expand the platform to include other imaging modalities such as MRI and CT scanning, and broaden the use to include other indications such as cancer."

Don Black commented, "VentriPoint has the opportunity to improve the lives of thousands of children and adults in the world every year. I'm excited about the opportunity to take this innovative diagnostic tool in the pediatric cardiology marketplace and demonstrate its applicability to the field. It's an exciting time in the Company's development."

About Mr. Don Black

Mr. Black has worked in the health care industry for over 25 years and has recently stepped down as the President of the Children's Health Corporation of America. Prior to this he was an investment banker, specializing in healthcare, at Piper, Jaffray & Hopwood, Inc. He began his career at Creighton Omaha Regional Health Care Corporation in 1976. And then held numerous positions at Excelsior Springs City Hospital and Health Midwest. His last assignment at Health Midwest was Vice President of Marketing and Development.

Don is involved in a number of professional organizations, including the American College of Health Care Executives, the Society of Health Care Planning and Marketing and The Young Presidents Organization. He currently serves on several outside corporate boards and charity organizations. He holds a B.A. from the University of Kansas and a Masters in Hospital and Health Care Administration from the University of Minnesota.

About Mr. Hugh Cleland, CFA

Mr. Cleland is an Executive VP and Portfolio Manager at Northern Rivers Funds, a BluMont Capital Company. He manages Northern Rivers' Innovation mandate, which includes the BluMont Northern Rivers Innovation RSP Fund (available on Fundserve), and the BluMont Innovation PE Strategy Fund I, which takes a private equity approach to the management of publicly traded small- and microcap technology and healthcare stocks. Mr. Cleland has managed the Innovation mandate since the inception of its first fund in May 2001. Prior to starting at Northern Rivers, Mr. Cleland worked at Interward Capital Corporation from 1998 to 2001, originally as an analyst, and later as Associate Portfolio Manager, specializing in technology equities. In 1997/1998 he was the research associate to the senior telecom services analyst at Midland Walwyn. Mr. Cleland has an Honours Bachelor of Arts degree (1997) from Harvard University and earned his CFA designation in 2001.

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. The VMS™ is the first cost-effective and accurate diagnostic tool for measuring right ventricle heart function. Congenital heart disease 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 VentriPoint's VMS™ heart analysis system and it is pursuing the US-FDA approval through the 510(k) process.

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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