REDWOOD CITY, Calif., Mar 28, 2024 (ACCESSWIRE) — Biotricity Inc. (NASDAQ:BTCY) (“Biotricity” or the “Company”), leading Technology-as-a-Service (TaaS) company revolutionizing the medical diagnostic and consumer healthcare field, continues its strategic expansion with the announcement of its latest partnership with yet another leading Group Purchasing Organization (GPO). GPOs streamline purchasing processes for medical providers and systems. With this latest partnership, Biotricity’s GPO partners collectively manage the buying needs of 9 out of every 10 hospitals in the U.S. Moreover, they wield immense purchasing power, totaling $264 billion. With these strategic alliances, Biotricity is poised to drive growth by capitalizing on these expansive market channels, solidifying its standing as a premier player in the healthcare technology sector.
Media:
Biotricity: Revolutionizing Healthcare with Strategic Partnerships
“Biotricity is thrilled to be selected as a newly featured vendor of cutting-edge remote cardiac monitoring solutions with these key GPOs,” said Waqaas Al-Siddiq, Ph.D., Founder, Chairman, and CEO of Biotricity. “This significant milestone will enhance our visibility and market reach within the healthcare industry. We anticipate robust growth in the future as our products become more readily available.”
With U.S. healthcare expenditures soaring to $4.5 trillion in 2022 and an aging population driving further increases, cost-effective buying solutions are a necessity. GPOs streamline purchasing processes for clinical care systems across the U.S. According to research from the Healthcare Supply Chain Association, GPOs collectively save the healthcare industry as much as $55 billion annually.
Representing 97% of U.S. hospitals, GPOs leverage their significant negotiating power to secure advantageous terms for medical devices and supplies. Biotricity’s newest affiliation gives the company access to approximately 90% of all hospitals in America and is a testament to the Company’s strategy of promoting accessible, high-quality care to improve patient outcomes while strategically positioning it for unmatched market access and growth.
For Investors interested in learning more about Biotricity, its robust revenue trajectory, and its comprehensive suite of medical diagnostic and consumer healthcare technologies, visit www.biotricity.com/investors.
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.
Contacts:
Media relations:
STiR-communications
Greg Salsburg
greg@STiR-communications.com
Investor relations:
Biotricity Investor Relations
Investors@biotricity.com
