Innovation Value Institute Analysis Demonstrates HeartSciences’ MyoVista® wavECG™ Potential to Improve Cardiovascular Pathway Efficiency

Rhea-AI Summary

HeartSciences (NASDAQ: HSCS) announced an analysis by the Innovation Value Institute (IVI) demonstrating the potential of their MyoVista® wavECG™ to improve cardiovascular pathway efficiency. The study, focused on prescreening patients for echocardiographic examinations related to left ventricle (LV) function at an NHS hospital, showed that 49.5% of LV function test queries could potentially be eliminated from the waitlist.

Duncan Sleeman, a senior lecturer in Cardiac Physiology, stated that the MyoVista wavECG could revolutionize the management of LV function query echo referral waitlists by identifying patients who don't require further cardiology intervention. Andrew Simpson, CEO of HeartSciences, emphasized that improving cardiovascular care pathway efficiency is a key goal for their AI-ECG technology.

Positive

• Potential to eliminate 49.5% of LV function test queries from waitlists
• AI-powered ECG device could revolutionize management of echo referral waitlists
• Technology aims to improve efficiency of cardiovascular care pathway

Negative

• None.

Southlake, TX, July 26, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. 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 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

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, 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

FAQ

What is the potential impact of HeartSciences' MyoVista wavECG on cardiovascular pathway efficiency?

According to the Innovation Value Institute analysis, HeartSciences' MyoVista wavECG has the potential to eliminate 49.5% of left ventricle function test queries from the waitlist, significantly improving cardiovascular pathway efficiency.

How could the MyoVista wavECG (HSCS) benefit patient care in hospitals?

The MyoVista wavECG could benefit patient care by pre-screening in-hospital patients, identifying those who do not require further cardiology intervention, reducing unnecessary referrals, and enabling quicker access to care for those in need.

What did the Innovation Value Institute study reveal about HeartSciences' (HSCS) technology?

The IVI study revealed that HeartSciences' MyoVista wavECG technology has the potential to radically improve cardiovascular pathway efficiency by potentially eliminating 49.5% of left ventricle function test queries from the waitlist at an NHS district general hospital.

How does HeartSciences (HSCS) aim to transform ECGs/EKGs?

HeartSciences aims to transform ECGs/EKGs by using artificial intelligence (AI) to enable earlier detection of heart disease, potentially saving lives and improving the efficiency of the cardiovascular care pathway.