3/20/2024

speaker
Operator
Conference Call Operator

Greetings and welcome to the HeartBeam fourth quarter and full year 2023 financial results conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. Before we begin the formal presentation, I would like to remind everyone that statements made on the call and webcast may include predictions, estimates, or other information that might be considered forward looking. While these forward looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these four linking statements, which reflect our opinions only as of the date of this presentation. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these four linking statements in light of new information or future events. Throughout today's discussion, we will attempt to present some important factors relating to our business that may affect our predictions. You should also review our most recent Form 10-K and Form 10-Q for a more complete discussion of these factors and other risks, particularly under the heading Risk Factors. A fresh release detailing these results crossed the wire this afternoon and is available in the Investor Relations section of our company's website, heartbeam.com. Your hosts today, Branislav Vajic, Chief Executive Officer and Founder, Rob Eno, President, Deborah Castillo, Vice President, Regulatory Affairs, and Rick Brownstein, Consulting Chief Financial Officer, will present results of operations for the fourth quarter and full year ended December 31st, 2023. At this time, I will turn the call over to HeartBeam Chief Executive Officer, Branislav Vajic.

speaker
Moderator
Conference Call Moderator

Thank you, Operator.

speaker
Branislav Vajic
Chief Executive Officer and Founder

I'd like to start by giving a brief overview of HeartBeam and our technology. It is really important to understand how our ECG technology is different and, lastly, more powerful than the most common personal ECG technologies that are out there in the marketplace today. A 12-lead ECG is one of the most commonly performed diagnostic tests It is actually a standard in hospitals and clinics. There are many ECG technologies that can be used by patients or consumers at home. You can see a couple of examples on this slide. There are not 12-lead ECGs. Instead, there are one-lead, three-lead, or six-lead. This is adequate for detecting many arrhythmias, but it is not sufficient. for detecting a heart attack or complex arrhythmias. In contrast, the HeartBeam Amigo is an easy-to-use system that synthesizes a 12-lead ECG. It is handheld device with no external electrodes or wires, and it is easy for the patient to apply. The key aim of the HeartBeam technology is to quickly and accurately help clinicians identify the full range of cardiac conditions, including a heart attack and outside of a medical facility. Our proprietary 3D VECG technology offers higher resolution monitoring by capturing heart activity in three projections, X, Y, and Z. which can provide for many cardiac conditions a more complete view of the heart than a standard 12-lead ECG. The AmyGo device coupled with a smartphone app and cloud-based diagnostic software enables a remote evaluation of cardiac symptoms by physicians, and we believe it could reduce the critical time to intervention for heart attack patients. The average patient waits three to four hours before seeking care. Shortening that time from symptoms to the door or medical institution would reduce complications and save many lives. In addition, more than 80% of patients with chest pain who go to the emergency room are not having a heart attack. An effective triage tool in the hands of the patient would reduce the number of unnecessary emergency room visits and reduce costs to the healthcare system. So why do we think that an easy-to-use 12 lead ECG with patients is transformational? Well, first, having the ability for patients to take frequent 12 lead readings over time and in a variety of real life situations, potentially has huge diagnostic value. Whenever patient is feeling symptoms, they can get a 12 lead reading that will be reviewed by a physician. Secondly, trending a 12 lead ECG both symptomatic and asymptomatic over time will allow physicians to gain insight to help guide cardiac care. Frequent value ECGs to create this trending is simply not feasible today. And finally, as we will discuss in more detail, Combining deep learning algorithms with a large number of longitudinally created VECGs has the potential to create an unparalleled predictive and diagnostic algorithm. We have the opportunity to address not only atrial fibrillation market, but also foreign artery disease market, which is about six times larger. In the United States, there are approximately 3,080 patients representing a $2 billion market. There are approximately 20 million total coronary artery disease patients, which is a $12 billion market. So the overall opportunity in the U.S. only is about $14 billion. to now turn the call over to Rob Eno, our president.

Disclaimer

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