HeartSciences (Heart Test Laboratories, Inc.)

What HeartSciences (Heart Test Laboratories, Inc.) does

HeartSciences (Nasdaq: HSCS) is a medical technology company developing AI-enhanced electrocardiography (AI-ECG) solutions for early detection of cardiovascular disease. The company offers a two-product architecture: (1) MyoVista Insights, a device-agnostic, cloud-native ECG management platform that delivers AI algorithms over existing hospital ECG infrastructure, and (2) the MyoVista wavECG, a 12-lead resting ECG device with embedded AI. Underlying the platform is one of the largest commercial portfolios of AI-ECG algorithms disclosed, covering impaired cardiac relaxation, low and preserved ejection fraction, mitral valve regurgitation, aortic stenosis, pulmonary embolism, right ventricle dysfunction, hypertrophic cardiomyopathy, STEMI, and PVC-related cardiomyopathy, with reported external AUROC values ranging from 0.79 to 0.95 across indications. Proprietary Continuous Wavelet Transform signal processing and machine learning models are largely sourced from an IP licensing relationship with the Icahn School of Medicine at Mount Sinai, and the company holds 45+ granted patents.

The business model combines SaaS platform subscriptions, per-assessment AI-ECG fees (Medicare reimbursement of approximately $136 per assessment under APC 5734), algorithm marketplace economics (Bunkerhill Health's ECG-EF was the first third-party cleared algorithm on the marketplace), and hardware device sales. Customers include large integrated health systems, community hospitals, critical access hospitals, primary care practices, and academic institutions; named deployments include St. Vincent Health (CO), North Shore Health (MN) under the Cibolo Rural Health Networks umbrella, and the University of the West of England. Distribution is direct enterprise sales supplemented by the Epic Toolbox integration (HL7v2, SSO, SMART on FHIR). In June 2026 the company announced a definitive all-stock merger with Fortitude Mining Holdings (a Digital Currency Group-owned Zcash mining platform), expected to close H2 2026 under the ticker TUDE, with DCG projected to own ~95% of the combined entity and Fortitude's CEO leading the combined company.

The company remains at a very early commercial stage: no meaningful revenue was reported through fiscal Q3 2026 (ending January 2026), cumulative cash stood at approximately $3.4 million, shareholders' equity at approximately $2.7 million, and market capitalization at approximately $5.6 million as of June 2026. The CEO role is held by Andrew Simpson; the company has stated it will not replace the departed COO Mark Hilz. The pending merger with a non-healthcare digital asset mining entity represents a major strategic discontinuity for the underlying medtech franchise.

Name

HeartSciences (Heart Test Laboratories, Inc.)

Legal name

Heart Test Laboratories, Inc.

Website

https://heartsciences.com

Company type

Public

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

HeartSciences develops AI-enhanced ECG algorithms and the MyoVista Insights cloud platform plus MyoVista wavECG device to enable early detection of cardiovascular disease in hospitals and clinics; the company is pre-commercial and has announced an all-stock merger with Fortitude Mining Holdings.

Ownership category

akta.pro rank

Product category

AI-Enhanced Electrocardiography (Cardiac Diagnostics)

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (33451)

SIC

Electromedical & Electrotherapeutic Apparatus (3845), Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Cardiac Monitoring (ECG/Holter/Event/Patch, Loop Recorders) (HLAHACAB)

akta.pro secondary industries

Electrophysiology Mapping & Ablation Systems (HLAHAFAD), Electrophysiology (Heart Rhythm) (HLAKABAC)

Keywords

• AI electrocardiography
• Cardiac diagnostics software
• ECG analysis platform
• Cardiovascular screening devices
• AI healthcare algorithms

Headquarters

HQ city

Southlake

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. SaaS Platform Subscriptions: MyoVista Insights cloud platform delivered under a SaaS-based recurring revenue model where healthcare facilities pay subscription fees for access to AI-ECG algorithms and workflow management tools.
2. Per-Assessment AI-ECG Fees: Medicare reimbursement at approximately $136 per assessment under APC 5734 for AI-ECG algorithm assessments performed with assistive AI-ECG algorithms on the MyoVista Insights platform.
3. Algorithm Marketplace Commission: Platform hosting third-party FDA-cleared algorithms with recurring SaaS-based revenue model as algorithms are accessed through MyoVista Insights marketplace.
4. MyoVista wavECG Device Sales: Hardware device sales of the MyoVista wavECG 12-lead resting ECG device with built-in AI-ECG technology.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

HeartSciences develops and sells AI-enhanced electrocardiography (AI-ECG) solutions, combining a cloud-native SaaS platform (MyoVista Insights) that delivers AI-ECG algorithms using existing ECG devices, with a proprietary 12-lead resting ECG hardware device (MyoVista wavECG) that has built-in AI-ECG capability. The company also operates an AI-ECG Algorithm Marketplace enabling third-party FDA-cleared cardiac algorithms to be hosted and distributed through its platform.

Product overview

HeartSciences offers a platform-plus-products architecture centered on AI-enhanced electrocardiography for cardiac disease detection. The core offerings consist of two integrated products: the MyoVista Insights cloud platform (a device-agnostic SaaS ECG management system with an AI-ECG Algorithm Marketplace) and the MyoVista wavECG hardware device (a 12-lead resting ECG with embedded AI). The company has developed one of the world's largest commercial portfolios of AI-ECG algorithms covering cardiovascular conditions including impaired cardiac relaxation, low ejection fraction, valvular diseases (mitral regurgitation, aortic stenosis), pulmonary embolism, right ventricle dysfunction, hypertrophic cardiomyopathy, STEMI, and PVC-related cardiomyopathy. The algorithms are delivered either through the MyoVista Insights cloud platform using existing ECG devices, or directly on the MyoVista wavECG hardware device. The AI-ECG Algorithm Marketplace enables third-party cleared algorithms to be hosted alongside HeartSciences' proprietary algorithms, creating a multi-algorithm ecosystem with recurring SaaS revenue.

Differentiator

Problem solved

Functional benefit

Brands

• MyoVista Insights: AI-ECG Cloud Platform - a device-agnostic, cloud-based ECG management system that delivers AI-ECG algorithms using existing ECG devices across hospitals and health systems.
• MyoVista wavECG
• MyoVista Insights AI-ECG Algorithm Marketplace

Products and services

• MyoVista Insights Cloud-native, device-agnostic ECG management platform that delivers FDA-cleared and proprietary AI-ECG algorithms using existing ECG devices across hospital and health systems. Supports HL7v2, single sign-on, and SMART on FHIR integration with EHRs, and is available through a SaaS-based recurring revenue model. Designed for healthcare facilities from large integrated health systems to community hospitals and critical access hospitals.
• MyoVista wavECG Device High-performance 12-lead resting ECG device with built-in AI-ECG technology that incorporates the Impaired Cardiac Relaxation algorithm using proprietary Continuous Wavelet Transform signal processing. Provides conventional ECG diagnostics plus AI-enabled cardiac dysfunction insights in a single test; portable with touchscreen interface, Wi-Fi enabled, and EMR-EHR capable.
• AI-ECG Algorithm Marketplace Marketplace within the MyoVista Insights platform that enables third-party FDA-cleared AI-ECG algorithms to be hosted and distributed to healthcare facilities. Operates on a SaaS-based recurring revenue model and targets healthcare facilities of all sizes across the United States.

Quantifiable outcome

• AI-ECG algorithm for low ejection fraction detection achieves AUROC of 0.94 in external validation with sensitivity of 0.87 and specificity of 0.85
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability4 records

Feature12 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Bunkerhill HealthcoreTechnology or Integration · 2 June 2026Bunkerhill Health's FDA-cleared ECG-EF algorithm for detecting reduced left ventricular ejection fraction became the first cleared AI-ECG algorithm available through MyoVista Insights AI-ECG Algorithm Marketplace. This partnership enables HeartSciences to offer third-party cleared algorithms on its platform while Bunkerhill gains distribution for their algorithm through HeartSciences' healthcare network.
• North Shore HealthcoreTechnology or Integration · 19 May 2026Commercial agreement with North Shore Health, a community hospital serving Cook County, Minnesota, to deploy the MyoVista Insights platform. This represents the first hospital deployment within Cibolo Rural Health Networks, demonstrating the platform's suitability for community healthcare settings.
• Cibolo Rural Health NetworkscoreChannel Partner/ Reseller/ Distributor · 19 May 2026Cibolo Health previously selected MyoVista Insights as its endorsed ECG management platform for hospitals within its high-value networks, covering 127 independent hospitals. The North Shore Health agreement represents the first deployment following this endorsement.
• St. Vincent HealthcoreTechnology or Integration · 5 May 2026First SaaS revenues agreement with St. Vincent Health, a Critical Access Hospital serving Lake County, Colorado. This agreement marks HeartSciences' transition from early adopter installations to commercial SaaS deployments following full platform launch.
• Epic SystemscoreTechnology or Integration · 25 March 2026MyoVista Insights received Epic Toolbox designation for ECG Management System category, enabling integration with Epic's healthcare IT ecosystem. The platform supports HL7v2 workflows, single sign-on, and SMART on FHIR standards for seamless EHR integration.
• University of the West of England (UWE)minorStrategic or Co-development Partner · 5 February 2026UWE adopted HeartSciences' MyoVista Insights platform and MyoVista wavECG device as exclusive ECG technologies for educational purposes. The agreement establishes a Reference Center for ECG Education and Technology to train the next generation of cardiac scientists.
• Icahn School of Medicine at Mount SinaicoreTechnology or IntegrationHeartSciences licenses significant intellectual property from Mount Sinai for AI-ECG algorithm development. Multiple algorithms including Low Ejection Fraction, Mitral Valve Regurgitation, Aortic Stenosis, and others were developed using Mount Sinai datasets of hundreds of thousands of ECG-echo pairs.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Eko Health: Eko Health develops AI-enabled digital stethoscopes and ECG algorithms (e.g., FDA-cleared SENSORA Cardiac Disease Detection) for cardiac screening in clinical and remote settings — a direct competitor in the AI-ECG space with both hardware devices and cloud-delivered algorithms.
• iRhythm Technologies: iRhythm's Zio ambulatory ECG monitoring service and AI-driven ECG analytics platform compete with HeartSciences in cardiac monitoring workflows, particularly for arrhythmia and structural heart detection via continuous or patch-based ECG.
• Anumana: Anumana, spun out of Mayo Clinic, develops AI-ECG algorithms for early detection of cardiac conditions (e.g., low ejection fraction, amyloidosis) — directly comparable as an algorithm-first AI-ECG company leveraging a leading academic medical center's clinical datasets, similar to HeartSciences' Mount Sinai relationship.
• AliveCor: AliveCor offers KardiaMobile consumer/clinical ECG devices and AI-based cardiac arrhythmia detection algorithms — overlapping directly with HeartSciences on AI-ECG hardware and software, though skewed more toward consumer/ambulatory use cases.

Emerging players

• Tempus AI: Tempus applies AI to multi-modal clinical data, including ECG-linked analytics, and represents a broader AI-driven clinical platform peer. It overlaps with HeartSciences on applying machine learning to cardiovascular data for diagnostic insight.
• Bunkerhill Health: Bunkerhill Health develops FDA-cleared ECG-based AI algorithms (e.g., ECG-EF for ejection fraction) and is HeartSciences' first marketplace partner on MyoVista Insights. It is both a partner and a competing algorithm developer that could in theory distribute through other ECG platforms.

Broad incumbents

• Preventice Solutions (Boston Scientific): Boston Scientific's Preventice body-worn cardiac monitoring portfolio (BodyGuardian) competes in ambulatory ECG and arrhythmia monitoring — adjacent to HeartSciences' AI-ECG screening use cases within cardiology workflows.
• Philips (IntelliSpace ECG): Philips IntelliSpace ECG is a widely deployed enterprise ECG management suite with growing AI capabilities. As a broad incumbent medtech player, Philips competes for the same large health-system ECG management budgets HeartSciences targets.
• GE HealthCare (MUSE): GE HealthCare's MUSE is one of the dominant enterprise ECG management systems installed in US hospitals. It is a broad incumbent whose installed base, salesforce, and capital give it a meaningful incumbent advantage as it layers AI capabilities onto its existing platform.

Others

• Carta Healthcare: Carta Healthcare focuses on AI-enabled clinical data abstraction and registry analytics for cardiology and other service lines. While not a direct AI-ECG competitor, it is an adjacent AI-for-cardiology peer whose ecosystem intersects with HeartSciences' hospital customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/HeartSciences
• Facebookfacebook.com/heartsciences1
• LinkedInlinkedin.com/company/heartsciences

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds9 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HeartSciences (Heart Test Laboratories, Inc.)