HeartSciences Inc. reports developments as a healthcare information technology company advancing electrocardiography through artificial intelligence. The company’s MyoVista Insights platform is a cloud-native, device-agnostic ECG management system designed for workflow efficiency, EHR interoperability and deployment of cleared AI-ECG algorithms in clinical workflows.
Recurring updates include commercialization of MyoVista Insights, customer and reference-site agreements with hospitals, health networks and academic programs, interoperability milestones such as Epic Toolbox designation, financial results and shareholder meeting matters. HeartSciences also discusses its MyoVista wavECG device, which is designed to provide conventional ECG functionality while supporting on-device AI-enabled solutions.
HeartSciences (Nasdaq: HSCS), an AI-powered medical technology company focused on transforming ECGs/EKGs for earlier heart disease detection, has announced its engagement with Integrous Communications to enhance investor relations. The partnership aims to develop and execute a comprehensive investor communications program, leveraging Integrous' expertise in working with leading medical companies.
Andrew Simpson, Chairman and CEO, emphasized the importance of maintaining robust investor communications as the company continues its mission of transforming cardiovascular screening through AI-ECG technology. Mark Komonoski, Partner of Integrous Communications, expressed enthusiasm about partnering with HeartSciences to communicate its growth strategy and value proposition to the investment community.
HeartSciences (HSCS) reported Q2 FY2025 financial results and business updates. The company is developing next-generation ECG solutions, including the MyoVista® wavECG™ device and MyoVista® Insights™ cloud platform. Phase 1 of MyoVista Insights will be completed by end of 2024, with test site implementations planned for first half of 2025. FDA submission for MyoVista wavECG is expected around end of Q1 2025.
The company reported no revenue in Q2 FY2025, with cash and cash equivalents of $4.1 million and shareholders' equity of $4.0 million as of October 31, 2024. Their AI-ECG algorithms have been included in the CMS 2025 OPPS final rule, enabling reimbursement upon commercial launch.
HeartSciences (NASDAQ: HSCS) announces that the Centers for Medicare & Medicaid Services (CMS) has included AI-ECG technology in the 2025 Hospital Outpatient Prospective Payment System final rule under APC 5734. This approval will enable outpatient settings to receive $125 reimbursement for HeartSciences' MyoVista® wavECGTM algorithm and MyoVista® InsightsTM low ejection fraction algorithm, pending FDA clearance. The company plans to submit both platforms to the FDA and launch them in 2025.
HeartSciences (Nasdaq: HSCS; HSCSW), an AI-powered medical technology company focused on transforming ECGs/EKGs for earlier heart disease detection, has announced its participation in the 2024 Maxim Healthcare Virtual Summit. The event, presented by Maxim Group and hosted by M-Vest, will take place from October 15 to October 17, 2024.
CEO Andrew Simpson will engage in a fireside chat with analyst Allen Klee on Thursday, October 17th at 10:30 a.m. Eastern Time. Interested parties can register for the event at m-vest.com or through the provided link to reserve a seat.
HeartSciences (Nasdaq: HSCS) reported its Q1 FY2025 financial results and provided a business update. Key highlights include:
- Progress on MyoVista wavECG device and MyoVista Insights cloud platform
- Cash and cash equivalents of $4.3 million and shareholder's equity of $5.9 million
- Secured $1.9 million in non-dilutive financing post-quarter end
- MyoVista Insights AI-ECG algorithm cloud-platform on track for completion by end of 2024
- FDA 510(k) submission for MyoVista wavECG device planned for Q1 2025
- No revenues reported for Q1 FY2025
The company is developing both cloud and device-based AI-ECG solutions, aiming to transform heart disease detection across various healthcare settings.
HeartSciences (NASDAQ: HSCS), an AI-powered medical technology company focusing on early heart disease detection through ECG/EKG transformation, has secured $1.9 million in net proceeds through a non-dilutive financing. This unsecured loan note has an 18-month maturity. Additionally, the company recently extended a $500,000 loan note to September 2025. CEO Andrew Simpson highlighted that these financial moves have extended the company's capital runway by $2.4 million since late August, providing significant opportunities to achieve valuable commercial milestones. The financing comes ahead of upcoming FDA submissions, positioning HeartSciences for potential growth in the medical technology sector.
HeartSciences (Nasdaq: HSCS) reported fiscal 2024 results and provided a business update. Key highlights include:
- Cash and cash equivalents of $5.8 million and shareholder's equity of $7.3 million
- Progress on MyoVista Insights AI-ECG algorithm cloud-platform, with FDA submission expected in mid-2025
- Advancement towards FDA 510(k) submission for MyoVista wavECG device, targeted for Q1 2025
- Expansion of AI-ECG algorithm portfolio through licenses from Mount Sinai
- Strengthened team and expanded clinical relationships
- Continued expansion of IP portfolio with new patents granted
The company raised $10.3 million from stock sales and converted $1.1 million of debt to equity during fiscal 2024.
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.
HeartSciences (NASDAQ: HSCS) has been selected to demonstrate its MyoVista® wavECG™ at the United Nations General Assembly Digital Health Symposium in September 2024. The Innovation Value Institute chose the technology as one that can radically transform healthcare. This selection follows HeartSciences' recent presentation at IVI's International Digital Health Summer School 2024.
Professor Martin Curley of Maynooth University emphasized the need for technologies delivering 10X improvements in healthcare, shifting towards preventative and proactive care. He highlighted MyoVista wavECG as a prime example, noting its benefits in frontline healthcare for early disease identification.
Andrew Simpson, CEO of HeartSciences, expressed honor at the recognition and anticipation for the upcoming demonstration. He also mentioned recent successes, including increased support from key opinion leaders and establishing relationships in the UK and Ireland, underscoring the commercial potential of their AI-ECG products.
Heart Test Laboratories, known as HeartSciences (NASDAQ: HSCS; HSCSW), announced the allowance of a new U.S. patent for their AI-based ECG assessment tool. This technology aims to identify left and right ventricular heart dysfunction, enhancing early detection of heart disease. With heart failure affecting 64 million people globally each year, HeartSciences' AI-ECG algorithms offer a cost-effective solution for early diagnosis, potentially improving patient outcomes and reducing healthcare costs. CEO Andrew Simpson highlighted that this addition strengthens their extensive AI-ECG intellectual property portfolio.