Southlake, Texas, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (Nasdaq: HSCS; HSCSW) (“HeartSciences” or the “Company”), an AI-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today announced that its MyoVista® wavECGTM has been selected by Cardiact Ltd (“Cardiact”) to be used in its heart screening program of members of the Association of Garda Sergeants and Inspectors (“AGSI”). In addition to the purchase of a MyoVista® device, Cardiact has placed an initial supplies order covering 2,400 patient tests.
Cardiact is rolling out a newly established heart screening program for the AGSI, which represents sergeants and inspectors of the Garda Síochána national police service of Ireland (“Garda”), to be conducted across Ireland and is due to commence on November 27, 2023. Cardiact has also established a new referral pathway directly to cardiology as part of the program.
Andrew Simpson, Chief Executive Officer of HeartSciences, commented, “We are delighted that the MyoVista® wavECG™ has been chosen for use in this heart screening program of Irish Garda officers. AI-ECG is beginning to see mainstream acceptance and we are excited to see this new screening program which further validates the enormous commercial opportunity for the MyoVista® and the role of AI-ECG in preventative testing.” Mr. Simpson added, “This latest announcement follows a number of recent positive developments which we believe fundamentally transform and de-risk HeartSciences. This includes our agreements with Icahn School of Medicine at Mount Sinai, which provides HeartSciences with what we believe is the largest AI-based ECG algorithm portfolio of any commercial organization. In addition, the AI-ECG industry continues to make exciting progress, with the recent creation of a new FDA product classification for AI-ECG algorithms which we expect to make clearance more structured and quicker under the 510(k) process. We believe AI-based ECG algorithms are the bridge that will finally allow front-line healthcare professionals to close the diagnostic gap and detect heart disease much earlier and at a lower cost."
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 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.
For Investor and Media Inquiries, please contact:
HeartSciences
Gene Gephart
Phone: +1-737-414-9213 (US)
investorrelations@heartsciences.com
Investors
Gilmartin Group
Vivian Cervantes
investorrelations@heartsciences.com
