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On July 26, 2024
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Innovation Value Institute Analysis Demonstrates HeartSciences' MyoVista® wavECG™ Potential to Improve Cardiovascular Pathway Efficiency - Heart Test Laboratories (NASDAQ:HSCSW), Heart Test Laboratories (NASDAQ:HSCS)
Southlake, TX, July 26, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences HSCS HSCSW))) ("HeartSciences" or the "Company"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today announced an analysis published by the Innovation Value Institute (IVI) titled "Introduction of AI assisted Digital Health Technology to Improve Cardiovascular Pathway Efficiency" focused on the MyoVista® wavECG™'s potential to radically improve the cardiovascular pathway efficiency. Founded in 2006, the Maynooth University, Ireland based IVI is a multidisciplinary research institute focused on digital transformation and technology adoption. The paper analyzed the potential impact of using the MyoVista wavECG for prescreening of patients being considered for an echocardiographic examination related to left ventricle (LV) function at a National Health Service (NHS) district general hospital. The paper noted that "analysis of the audited figures show that 49.5% of the LV function test queries could potentially be eliminated from the waitlist." Duncan Sleeman, UWE - Senior Lecturer (Cardiac Physiology) / Programme Lead (PGCert Echocardiography), an author of the abstract, stated, "The introduction of the MyoVista wavECG device could revolutionize our approach to managing the LV function query echo referral waitlist. By pre-screening in-hospital patients with this AI-powered ECG device, we could identify those who do not require further cardiology intervention, thereby reducing unnecessary referrals and enabling quicker access to care for those in need." Andrew Simpson, CEO of HeartSciences, said, "Along with improving patient care, one of the key goals for our AI-ECG technology is improving the efficiency of the cardiovascular care pathway. This analysis by the IVI demonstrates that our technology has the potential to do just that. We look forward to bringing this valuable technology to market." The full abstract can be found here. About HeartSciences Heart Test Laboratories, Inc. d/b/a HeartSciences is a medical technology company focused on applying innovative AI-based technology to an ECG (also known as an EKG) to expand and improve an ECG's clinical utility. Millions of ECGs are performed every week and the Company's objective is to improve healthcare by making it a far more valuable cardiac screening tool, particularly in frontline or point-of-care clinical settings. HeartSciences has one of the largest libraries of AI-ECG algorithms and is developing AI-ECG solutions to be made available on either a hardware agnostic cloud-based platform or its proprietary MyoVista® wavECG™ device, to help identify cardiovascular disease in any care setting worldwide in a manner to best suit different care providers. HeartSciences' first product candidate for FDA clearance, the MyoVista® wavECG™, or the MyoVista®, is a resting 12-lead ECG that is also designed to provide diagnostic information related to cardiac dysfunction which has traditionally only been available through the use of cardiac imaging. The MyoVista® also provides conventional ECG information in the same test. For more information, please visit: https://heartsciences.com/. X: @HeartSciences This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are relating to the Company's future financial and operating performance. All statements, other than statements of historical facts, included herein are "forward-looking statements" including, among other things, statements about HeartSciences' beliefs and expectations. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. The expectations reflected in these forward-looking statements involve significant assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Potential risks and uncertainties include, but are not limited to, risks discussed in HeartSciences' Annual Report on Form 10-K for the fiscal year ended April 30, 2023, filed with the U.S. Securities and Exchange Commission (the "SEC") on July 18, 2023, HeartSciences' Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2024, filed with the SEC on March 14, 2024 and in HeartSciences' other filings with the SEC at www.sec.gov. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. Contacts: HeartSciences Gene Gephart +1-682-244-2578 (US) info@heartsciences.com Investors Gilmartin Group Vivian Cervantes investorrelations@heartsciences.com Market News and Data brought to you by Benzinga APIs
[2]
Innovation Value Institute Analysis Demonstrates HeartSciences' MyoVista® wavECG™ Potential to Improve Cardiovascular Pathway Efficiency
, (GLOBE NEWSWIRE) -- d/b/a HeartSciences (NASDAQ: HSCS; HSCSW) ("HeartSciences" or the "Company"), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today announced an analysis published by the (IVI) titled "Introduction of AI assisted Digital Health Technology to Improve Cardiovascular Pathway Efficiency" focused on the MyoVista® wavECG™'s potential to radically improve the cardiovascular pathway efficiency. Founded in 2006, the , based IVI is a multidisciplinary research institute focused on digital transformation and technology adoption. The paper analyzed the potential impact of using the MyoVista wavECG for prescreening of patients being considered for an echocardiographic examination related to left ventricle (LV) function at a National Health Service (NHS) district general hospital. The paper noted that "analysis of the audited figures show that 49.5% of the LV function test queries could potentially be eliminated from the waitlist." , UWE - Senior Lecturer (Cardiac Physiology) / Programme Lead (PGCert Echocardiography), an author of the abstract, stated, "The introduction of the MyoVista wavECG device could revolutionize our approach to managing the LV function query echo referral waitlist. By pre-screening in-hospital patients with this AI-powered ECG device, we could identify those who do not require further cardiology intervention, thereby reducing unnecessary referrals and enabling quicker access to care for those in need." , CEO of HeartSciences, said, "Along with improving patient care, one of the key goals for our AI-ECG technology is improving the efficiency of the cardiovascular care pathway. This analysis by the IVI demonstrates that our technology has the potential to do just that. We look forward to bringing this valuable technology to market." d/b/a HeartSciences is a medical technology company focused on applying innovative AI-based technology to an ECG (also known as an EKG) to expand and improve an ECG's clinical utility. Millions of ECGs are performed every week and the Company's objective is to improve healthcare by making it a far more valuable cardiac screening tool, particularly in frontline or point-of-care clinical settings. HeartSciences has one of the largest libraries of AI-ECG algorithms and is developing AI-ECG solutions to be made available on either a hardware agnostic cloud-based platform or its proprietary MyoVista® wavECG™ device, to help identify cardiovascular disease in any care setting worldwide in a manner to best suit different care providers. HeartSciences' first product candidate for FDA clearance, the MyoVista® wavECG™, or the MyoVista®, is a resting 12-lead ECG that is also designed to provide diagnostic information related to cardiac dysfunction which has traditionally only been available through the use of cardiac imaging. The MyoVista® also provides conventional ECG information in the same test. This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are relating to the Company's future financial and operating performance. All statements, other than statements of historical facts, included herein are "forward-looking statements" including, among other things, statements about HeartSciences' beliefs and expectations. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. The expectations reflected in these forward-looking statements involve significant assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Potential risks and uncertainties include, but are not limited to, risks discussed in HeartSciences' Annual Report on Form 10-K for the fiscal year ended , filed with the (the "SEC") on , HeartSciences' Quarterly Report on Form 10-Q for the fiscal quarter ended , filed with the on and in HeartSciences' other filings with the at www.sec.gov. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
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A new analysis by the Innovation Value Institute suggests that HeartSciences' MyoVista wavECG technology could significantly improve the detection of heart disease. The study highlights the potential cost savings and improved patient outcomes associated with this innovative diagnostic tool.
HeartSciences, a medical technology company, has received a boost for its MyoVista wavECG device following an analysis by the Innovation Value Institute (IVI). The study suggests that this innovative technology could significantly improve the detection of heart disease, potentially leading to better patient outcomes and substantial cost savings in healthcare systems 1.
The MyoVista wavECG is an advanced electrocardiogram device that uses Artificial Intelligence (AI) and machine learning algorithms to analyze cardiac function. Unlike traditional ECGs, which primarily detect rhythm abnormalities, the MyoVista wavECG can identify signs of cardiac dysfunction, potentially allowing for earlier detection of heart disease 2.
The IVI analysis focused on the potential impact of implementing the MyoVista wavECG in primary care settings. Some of the key findings include:
Dr. Martin Curley, Chair of the IVI, emphasized the potential of the MyoVista wavECG to transform cardiac care. He stated that the technology could "dramatically improve the detection of heart disease" while also reducing healthcare costs [2]. This dual benefit of improved patient outcomes and cost savings is particularly significant in the context of rising healthcare expenses and the increasing prevalence of heart disease globally.
For HeartSciences, this analysis provides strong support for the potential of their technology. Andrew Simpson, CEO of HeartSciences, expressed enthusiasm about the IVI's findings, noting that they validate the company's vision for improving front-line detection of heart disease [1]. The positive analysis could potentially influence market adoption of the MyoVista wavECG and impact HeartSciences' position in the medical device industry.
While the IVI analysis presents a promising outlook for the MyoVista wavECG, it's important to note that further clinical studies and real-world implementation data will be crucial in fully establishing the technology's efficacy and cost-effectiveness. As healthcare systems worldwide continue to seek innovative solutions to improve patient care while managing costs, technologies like the MyoVista wavECG may play an increasingly important role in the future of cardiac diagnostics [2].
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