Southlake, TX, Sept. 07, 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 announced that it has extended its distribution channel through a new distribution agreement with MedPhy Technologies Pvt. Ltd. located in Mumbai, India.
MedPhy Technologies Pvt. Ltd. will serve as HeartSciences most recent Distributorship fulfilling the role of both importer and distributor. Their network will provide HeartSciences with market representation across India once full product rollout has begun.
“We are extremely excited to partner with HeartSciences to bring MyoVista® Wavelet ECG (wavECG™) to medical professionals in India," said Manojkumar Patil, Director, MedPhy Technologies Pvt. Ltd. “The emerging field of AI ECG offers the meaningful prospect of low-cost screening to help solve the diagnostic gap where millions of Indian people with heart disease remain undiagnosed until some sort of cardiac event, such as a heart attack.”
Mr Patil continued, “Cardiovascular diseases are a major health concern in our country. As per a WHO report, India accounts for about one-fifth of the 17.9 million deaths caused by heart attacks globally! The key to managing any heart problem is early diagnosis which can help identify future heart problems before it is too late and Introducing HeartSciences MyoVista® in India provides physicians with new patient information related to a patient’s heart health.”
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.
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