VentriPoint Diagnostics Ltd.

VentriPoint Diagnostics Ltd.

June 29, 2011 07:00 ET

St. Paul's Hospital Heart Centre in Vancouver Obtains VMS Heart Analysis System

Clinical Group to Study Advantages of VMS in Managing Adult Heart Patients

SEATTLE, WASHINGTON--(Marketwire - June 29, 2011) - VentriPoint Diagnostics Ltd. ("VentriPoint") (TSX VENTURE:VPT)(PINK SHEETS:VPTDF) as part of its controlled rollout strategy, is pleased to announce an additional installation of its VentriPoint Medical System (VMS™) at the St. Paul's Hospital in Vancouver, Canada. The adult congenital heart disease (ACHD) group at St. Paul's Hospital will initially use the VMS™ to monitor adult patients who have had surgery for congenital heart disease, but still have significant heart problems and life-long monitoring of the right ventricle.

"We are pleased to collaborate with VentriPoint in the assessment and on-going development of the VMS™ in our hospital," said Dr. Marla Kiess, Director of the Pacific Adult Congenital Heart Clinic and Medical Director of the Echo Laboratory at St. Paul's Hospital.

Dr. Jasmine Grewal, adult congenital heart disease cardiologist and lead investigator for the project added, "The VMS™ has the potential to improve patient care and outcomes by providing physicians with a tool to monitor right ventricular function in ACHD patients that is highly accurate, easily accessible and at a lower cost than the diagnostic tools currently in use."

VentriPoint's CEO, Dr. George Adams, commented, "This is our first installation for adult patients in Canada. The St. Paul's cardiology group has defined a number of research projects and will be advancing our knowledge of right heart remodeling by studying adults with congenital heart disease."

Vancouver's St. Paul's Hospital is the seventh announced installation of the VMS™ heart analysis system. There are currently three systems in Canada (two children and one adult), one adult system in Europe and three systems in the United States. The company is scheduled to have nine systems installed by the end of June and the tenth system installed shortly thereafter. The last three installations will be announced once the hospitals have approved the press releases.

Given the overwhelming level of interest in response to the Company's initial exhibitions at the meetings of the European Association of Pediatric Cardiologists, in Granada, May 18-21 and the American Society of Echocardiology, Montreal, June 14-18 and its attendance at the International Society of Adult Congenital Heart Disease, Cincinnati, June 19-22, the Company has commenced the assembly of five additional VMS™ machines for installation during the next few months. There has been significant interest in the acquisition of the VMS™ for clinical use in Canada and Europe where the product has received regulatory approval. Additionally, VentriPoint has engaged leading investigators and opinion leaders in collaborative projects to validate the pulmonary hypertension application, acquire pivotal trial data for US-FDA 510(k) approval and begin development of new applications in response to clinical and market needs. The VMS™ installations anticipated through the end of 2011 will be at premier institutions around the world for both clinical use and synergistic research projects.

About St. Paul's Hospital

As a teaching hospital affiliated with the University of British Columbia, basic health research at St. Paul's has a cardiovascular, pulmonary & critical care focus — complementing a number of the priority clinical service areas. St. Paul's is designated the provincial Heart Centre, offering services ranging from prevention and rehabilitation to heart transplantation. Working in affiliation with the cardiac programs at Vancouver Hospital, Children's and Women's Health Centre of British Columbia within the Vancouver Coastal Health Authority, the St. Paul's Heart Centre is a resource for all British Columbians.

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™ diagnostic tool and VentriPoint 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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