HeartSciences Inc.

HeartSciences is a medical technology company that applies innovative AI-based technology to electrocardiograms (ECGs or EKGs) to enhance their clinical utility. The company aims to make ECGs more valuable cardiac screening tools by expanding their ability to detect a wider range of heart conditions through the development of AI-based ECG algorithms (AI-ECG). HeartSciences plans to offer AI-ECG solutions globally, either through its cloud-based application, which can receive uploads from existing ECG devices, or via its proprietary MyoVista wav ECG device. The MyoVista wav ECG is a resting 12-lead ECG designed to incorporate HeartSciences' AI-ECG algorithm to provide diagnostic information related to cardiac dysfunction alongside conventional ECG data in a single test. The company is also developing the MyoVista Insights Cloud Platform, a cloud-based platform to host AI-ECG algorithms, both internal and third-party, independently of specific ECG hardware. Neither the MyoVista wav ECG, MyoVista Insights Cloud Platform, nor any of its AI-ECG algorithms are currently cleared for marketing by the FDA. The AI-ECG algorithms are intended to provide diagnostic information that has traditionally required cardiac imaging. The initial revenue model for the MyoVista wav ECG device is expected to be "razor-razorblade," involving the MyoVista hardware, associated software, and proprietary consumables for each test, as the cable connection to the electrodes is proprietary to HeartSciences and new electrodes are used for every test.