VentriPoint Diagnostics Ltd.

VentriPoint Diagnostics Ltd.

May 31, 2012 07:00 ET

VentriPoint Announces Appointment of New Chief Financial Officer

SEATTLE, WASHINGTON--(Marketwire - May 31, 2012) - VentriPoint Diagnostics Ltd. (TSX VENTURE:VPT) (OTCQX:VPTDF) announces today that it has appointed Christine Deaton as the Company's Chief Financial Officer and Corporate Secretary. Ms. Deaton has an extensive background in international finance, accounting, and analysis. Prior to VentriPoint, Chris held the position of Finance Director at Lexblog, and Accounting Manager, at SourceCode Technology Holdings, both emerging international software companies. She most recently has worked with Pharmacy OneSource in a financial consulting capacity.

Dr. George Adams, President and Chief Executive Officer of the Company states: "We are delighted that Ms. Deaton has joined the VentriPoint Team as Chief Financial Officer. Her financial background as well as her operations experience will serve the Company well as we approach our next stage of growth."

The Company has accepted the resignation of John Gebhart. Dr. Adams states that: "Mr. Gebhart joined the Company last summer as Interim CFO and has successfully led the Company through the conversion of our financial systems to support IFRS compliance and the annual audit. VentriPoint thanks Mr. Gebhart for his contribution to the Company's success and wishes him well in his next endeavours."

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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