Heart Force Medical Inc. Receives Health Canada License
The SPhENo-Cardiograph™ is a non-invasive medical system that assesses the electro-mechanical performance of the heart by measuring not only the electrical activity of the heart but also how effectively it is contracting. Currently physicians assess the heart’s electro-mechanical performance either by using invasive catheters or an echocardiograph, both time-consuming and expensive procedures which have to be performed in a hospital or imaging clinic.
The SPhENo-Cardiograph system consists of a display unit and a seismic sensor, which can easily be used in a doctor’s office or in a health and wellness centre to measure heart health. The sensor is attached to the skin at the lower end of the sternum to capture the seismic forces generated by the beating heart. The SPhENo-Cardiograph™ measures the heart’s electro-mechanical performance simply, quickly and inexpensively using data collected from the seismic and ECG sensors. The system displays the patient’s seismocardiogram and electrocardiogram waveforms and automatically calculates the patient’s Systolic Timing Interval (STI) Ratio which can be used for a variety of medical and health-related applications. The STI Ratio is an established non-invasive assessment for the quantitative assessment of cardiac performance.
HFM has invested $11 million over seven years researching, developing and clinically testing its technology. Previously HFM won the BCTIA Pre-Commercial Technology Award and has received Canadian Federal Government recognition for innovation.
Dr. Geoff Houlton, the Company’s President and Chief Executive Officer commented: “This is a significant achievement for HFM that allows us to begin marketing our first product in Canada. The Class II Medical Licence from Health Canada enables us to provide practitioners, initially in the Health and Wellness sector, with a medical device that provides an early warning of cardiac disease based on accepted cardiology principles.”
“We are delighted at the progress that Heart Force has made since we identified it as our Qualifying Transaction”, stated Geoff Balderson, President and CEO of Aim Explorations. “We look forward to completing the financing in the coming weeks and working with HFM to move this very important and potentially lifesaving technology into the market.”
The Company entered into an agreement in principle with HFM in which AIM will acquire all of the issued and outstanding securities of HFM which will constitute the Company’s Qualifying Transaction. For more information on the proposed transaction please refer to the Company’s Filing Statement dated January 19, 2015 available on www.sedar.com.
The Qualifying Transaction has received conditional approval from the TSX Venture Exchange subject to a concurrent financing of not less than $2,000,000.
For further information contact:
President, Chief Executive Officer, Chief Financial Officer and Secretary
Email: [email protected]