VentriPoint Diagnostics Ltd.

VentriPoint Diagnostics Ltd.

August 29, 2011 18:22 ET

VentriPoint Announces Appointment of New Chief Financial Officer

SEATTLE, WASHINGTON--(Marketwire - Aug. 29, 2011) -


VentriPoint Diagnostics Ltd. ("VentriPoint" or the "Company") (TSX VENTURE:VPT) (PINK SHEETS:VPTDF) announces today that it has appointed John Gebhart as the Company's Interim Chief Financial Officer and Corporate Secretary. Mr. Gebhart has a strong reputation as a startup finance executive with experience in healthcare companies and e-health innovations. He has public-company experience and has participated in raising over $150 million in early stage financing. As Chief Financial Officer of Access Health Marketing Inc. from its inception, Mr. Gebhart established the company's finance and operations infrastructure and was instrumental in the company being listed on NASDAQ. In addition, Mr. Gebhart was Chief Executive Officer and Chairman of CareWise Inc. where he assisted in increasing the shareholder base and the company's profitability.

Dr. George Adams, President and Chief Executive Officer of the Company states: "We are very fortunate that we have been able to find a Chief Financial Officer of Mr. Gebhart's calibre. He is the ideal candidate for this stage of commercialization and growth that VentriPoint is experiencing. We look forward to his capable management to move the Company forward."

The Company has accepted the resignation of Edward Garth. Dr. Adams states that: "Mr. Garth has been an integral part of the Company's development since its inception. VentriPoint thanks Mr. Garth for his contribution to the Company's success and wishes him well in his next endeavours." Mr. Garth will be available to the Company until the end of the year to achieve a smooth transition.

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. Management believes 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, which management believes has a multibillion-dollar market potential. Canada and Europe (CE Mark) have granted approval for the sale of VentriPoint's VMS™ heart analysis system 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. These forward-looking statements are made as of the date of this press release and, other than as required by applicable securities laws, the Corporation does not assume any obligation to update or revise them to reflect new events or circumstances. 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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