REDWOOD CITY, Calif., May 23, 2023 (ACCESSWIRE) — Biotricity Inc. (NASDAQ:BTCY) (“Biotricity” or the “Company”), a leading medical diagnostic and consumer healthcare technology company, today commented on contributions of artificial intelligence (AI) and machine learning and its transformative nature for healthcare.
As stated in The New England Journal of Medicine, March 30, 2023 article entitled, Artificial Intelligence in Medicine, “Tools that utilize AI have come into increasing use in analyzing and interpreting large research databases containing information ranging from laboratory findings to clinical data. All these tools offer the potential for increased efficiency and may, perhaps, render insights that are difficult to attain with more traditional data-analysis methods.”
Biotricity sees AI algorithms are now developing the ability to identify earlier signs of illness, help with precision medicine therapies, and streamline administrative tasks – thereby enabling healthcare practitioners to deliver more efficient and effective care one-on-one.
With a focus on improving patient outcomes through innovative solutions, Biotricity has been working with AI technology and its large datasets over the past few years to develop the next generation of diagnostics. The company is well-positioned to make a significant contribution to the advancement of healthcare by using AI– placing it at the forefront of the healthcare industry’s AI revolution.
The Company’s flagship product, Bioflux, is an advanced remote cardiac monitoring system with built-in algorithms that leverages AI to deliver more accurate and earlier diagnoses leading to enhanced patient care. The Bioflux system is a turn-key solution designed to provide physicians with 24/7 real-time access to patient data, enabling them to monitor patient health more closely and make informed decisions sooner. Its proprietary solutions have recorded data on over 112 billion heartbeats for deep data analysis.
Earlier this year, Biotricity was selected to present its work on AI-enabled stroke prediction in chronic kidney disease (CKD) patients, at the 2nd Annual Innovation Showcase during the American Stroke Association 2023 International Stroke Conference (ISC). That work was funded by way of an NIH grant. The research focused on optimizing the Company’s proprietary AI for predictive stroke analytics in patients utilizing real-time monitoring of stroke risk in CKD patients, and in particular, those undergoing dialysis.
Commenting, Dr. Waqaas Al-Siddiq, Biotricity Founder and CEO, said, “Our algorithms for detection of cardiac anomalies are FDA-cleared, and for several years our team of dedicated AI software programmers are continually striving to push that envelope. We now have the ability to detect meaningful cardiac anomalies and determine the best course of action in real time.
“With the vast amount of data we collect, we have developed an AI system that can also pre-emptively detect anomalies before they occur through highly advanced pattern analysis, hence moving us into the world of predictive monitoring and preventative medicine. This type of change will allow physicians to see many more patients with less time enabling Biotricity to not only improve outcomes but to reduce patient risk and ensure a higher quality of life. From a business perspective, this will allow us to grow and scale our product portfolio with less costs while supporting more patients and physicians with higher value-added products and services.”
About Biotricity Inc.
Biotricity is reforming the healthcare market by bridging the gap in remote monitoring and chronic care management. Doctors and patients trust Biotricity’s unparalleled standard for preventive & personal care, including diagnostic and post-diagnostic solutions for chronic conditions. The company develops comprehensive remote health monitoring solutions for the medical and consumer markets. To learn more, visit www.biotricity.com.
Important Cautions Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “should,” “would,” “will,” “could,” “scheduled,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “seek,” “project,” or “goal” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans, objectives and goals of management for future operations, including plans, objectives or goals relating to the design, development and commercialization of Bioflux or any of the Company’s other proposed products or services, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company’s future financial performance, (iv) the regulatory regime in which the Company operates or intends to operate and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company’s current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company’s inability to obtain additional financing, the significant length of time and resources associated with the development of its products and related insufficient cash flows and resulting illiquidity, the Company’s inability to expand the Company’s business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company’s failure to implement the Company’s business plans or strategies. These and other factors are identified and described in more detail in the Company’s filings with the SEC. There cannot be any assurance that the Company will ever become profitable. During the three months ended June 30, 2020 the Company incurred a net loss attributable to common stockholders of $3.4 million. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
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