Southlake, TX, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (Nasdaq: HSCS; HSCSW) (“HeartSciences” or the “Company”), an artificial intelligence (AI)-based medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today announces that its MyoVista® wavECGTM has been selected by PanaceaFlo Ltd to be used in Dublin, Ireland in its heart screening evaluation study.
The main objective of the study is to establish a cardiovascular risk screening program and integrated care hub pathway. If successful, the program is expected to roll out nationally in Ireland, in conjunction with the Irish Health Elevator Program, focusing on community-based screening and early intervention of cardiovascular risk in line with the Irish public health system (HSE) “Stayleft, Shiftleft10X” transformation program to move to preventative rather than acute care.
It will initially screen approximately 250 members of the general public, including Garda Siochana officers, in Dublin, Ireland, in collaboration with the Innovation Value Institute (IVI), Maynooth University College, Kildare.
Andrew Simpson, CEO of HeartSciences, stated, “We are delighted that the MyoVista wavECG has been chosen as part of a major frontline heart screening evaluation program. It further validates the enormous commercial opportunity for the MyoVista and the role of AI ECG. Heart disease is placing considerable strain on health systems worldwide and is the largest health and cost burden. I believe that preventative testing using AI ECG will be the key to saving lives and reducing cardiology outpatient backlogs, waiting list times and system costs. Our ultimate objective is for the MyoVista to become a fixture in frontline healthcare to help physicians make better and earlier referral decisions for at risk patients."
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 usefulness. Millions of ECGs are performed every week and the Company’s objective is to improve healthcare by making an ECG a far more valuable cardiac screening tool, particularly in frontline or point-of-care clinical settings. HeartSciences’ first product candidate for FDA clearance, the MyoVista® wavECGTM, 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. The business model, which involves the use of the MyoVista® Device and consumables for each test, is expected to be “razor-razorblade” as the electrodes used with the MyoVista® are proprietary to HeartSciences, and new electrodes are required for every test performed.
For more information, please visit: https://www.heartsciences.com. Twitter: @HeartSciences
Safe Harbor Statement
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 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.
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