REDWOOD CITY, Calif., Apr 26, 2024 (ACCESSWIRE) — Biotricity Inc. (NASDAQ:BTCY) (“Biotricity” or the “Company”), a pioneering Technology-as-a-Service (TaaS) company dedicated to delivering top-of-the-line medical diagnostic and consumer healthcare solutions, announces high demand for its latest breakthrough device, Biotres Pro. This device is easy to wear, resulting in excellent patient compliance and a higher selling price. Biotres Pro is expected to raise the average subscription price by over 32%. This will translate to a revenue increase of up to 10% from sales to existing customers over the course of fiscal 2025. Biotres Pro is also capturing the attention of new customers. The initial production run of Biotres Pro has sold out, with customers placing pre-orders for the next run, which is scheduled to ship to customers by end of May.
Biotres Pro, the only 3-channel patch-like ECG in the world with both cellular and Bluetooth connectivity commands a premium monthly subscription price compared to its predecessors. The interest from existing customers transitioning to Biotres Pro and the influx of new customers have set a dynamic stage for Biotricity’s future opportunity.
Dr. Waqaas Al-Siddiq, Founder and CEO of Biotricity, remarked, “We are intensely focused on upgrading our customer base with Biotres Pro and closing our existing pipeline and active pilots. This product’s positive reception from both existing and new customers, and the resulting boost to revenue that we anticipate, will accelerate our path to breakeven.”
As Biotricity continues to push the boundaries of innovation in healthcare technology, investors are encouraged to explore the company’s anticipated revenue trajectory and comprehensive suite of diagnostic solutions at 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
