Irvine, California (PRWEB) December 12, 2008
M.D. Venture Partners, a venture capital firm funding medical device and healthcare technology investments, is pleased to announce an equity investment of $5 million into Heart Test Labs, of Colleyville, Texas. Through a unique funding model (more information at http://www.mdventurepartners.com/works.cfm), M.D. Venture Partners uses medical venture capital provided by physicians to fund the next generation of healthcare technology.
Heart Test Laboratories Inc. (HTL) is a rapidly developing medical device company concentrating on Coronary Arterial Disease market. The company's lead product is MyoVista™, a portable, inexpensive diagnostic test used to determine the presence and level of Myocardial Ischemia, a restriction of blood flow to the heart. Myocardial Ischemia is a contributing factor in 67% of all Coronary Arterial Disease.
The current electrocardiography (ECG/EKG) technology receives information from 1,000 points per second in the heart, while MyoVista gathers data from 1 to 2 million points per second using proprietary algorithms. MyoVista continuously monitors each of the ten surface electrodes, providing the clinician with qualitative and quantitative information regarding the Ischemia. It also creates an image of the problem in the Myocardium for the clinician's review. Combined with the physicians' experience and judgment, a superior matrix of information to properly identify and diagnose the condition of the patient is achieved.
M.D. Venture Partners chose this medical device investment in part after reviewing two recently completed clinical studies with MyoVista that show an average 95% correlation to an invasive Coronary Angiogram, indicating that this unique technology is positioned to change the way all patients are screened for Coronary Arterial Disease. MyoVista is unique in that its adoption has the ability to both improve patient outcomes in identifying and treating Coronary Arterial Disease around the world and lower the overall costs to our healthcare system.
Drew Diaz, the CEO of HTL, commented that, "We are very pleased to have M.D. Venture Partners support HTL in the global commercialization of our MyoVista ischemia detection device. We intend to use the venture capital to seek medical device approvals from the FDA and CE (European market) for MyoVista. We believe this technology will improve cardiac patient outcomes around the world."
M.D. Venture Partners (http://www.mdventurepartners.com) is operated by several General Partners who have been in the securities industry over 20 years and have specialty experience in venture capital funding for medical device manufacturers and other healthcare technology enterprises. While MDVP's main goal is to serve the financial needs of its Physician Limited Partners, the partnership is also dedicated to supporting medical innovations that improve patient outcomes and lower the costs to our healthcare system. Through its unique funding model, MDVP has grown to become the largest network of physician venture investors in America.
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