viewVentriPoint Diagnostics Ltd.

Ventripoint Diagnostics awarded medical device single audit program certification

The firm is behind the VMS Plus, an accurate AI (artificial intelligence) tool for measuring whole heart function

Surgeons at work
The VMS Plus device is aimed at improving cardiac care

Ventripoint Diagnostics Ltd (CVE:VPT) (OTCMKTS:VPTDF), the heart monitoring tech group, has been awarded medical device single audit program (MDSAP) certification.

The Toronto-based company is behind the VMS Plus, which is an accurate AI (artificial intelligence) tool for measuring whole heart function using conventional ultrasound.

READ: Ventripoint Diagnostics increases placing to $1.5M due to demand

"We are very proud of this latest achievement, which solidifies Ventripoint's abilities to continue to produce and sell its VMS+ System globally and positions us at the forefront of quality assurance," said Dr. Alvira Macanovic, Ventripoint's director of regulatory affairs and quality assurance.

The MDSAP became a mandatory requirement by Health Canada on January 1 this year.

It allows a single regulatory audit of a medical device manufacturer's quality management system to satisfy multiple regulatory jurisdictions, including Canada, United States, Japan, Brazil, and Australia, reducing the need for duplicate audits.

Yesterday, Ventripoint announced it had increased its previously announced non-brokered private placement to $1.5 million from $1 million due to investor demand.

The proceeds will be used for sales and marketing, development and general working capital.

The company has closed the order book on the offering and intends to complete the offering of debenture units at $1,000 per unit by January 25 this year.

Contact Giles at [email protected]

Quick facts: VentriPoint Diagnostics Ltd.

Price: 0.08 CAD

Market: TSX-V
Market Cap: $5.5 m

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