REDWOOD CITY, Calif., Oct 04, 2022 (ACCESSWIRE) — Biotricity Inc. (NASDAQ:BTCY) (“Biotricity” or the “Company”), a medical diagnostic and consumer healthcare technology company, today announced a significant milestone of recording and analyzing over 2 billion heartbeats for Atrial Fibrillation (AFib), the most common type of cardiac arrhythmia and a leading cause of stroke.
Bioflux®, Biotricity’s high-precision, single-unit mobile cardiac telemetry device that provides real-time monitoring and transmission of the patient’s ECG information, has captured billions of heartbeats to date, monitored in real-time by Bioflux’s built in algorithms, certified cardiac technicians and benchmarked by Artificial Intelligence (AI). Leveraging the Company’s proprietary AI, over 2 billion of the total heartbeats to date have been segmented for AFib analysis. According to Emergen Research, the global recurrent market for AFib is expected to reach USD$26 billion by 2027, growing at a CAGR of 13.2%.
This large data set provides further benefits for patients, providers and ultimately clinical research for the future of predictive monitoring. Additionally, it allows Biotricity to scale faster and operate more efficiently, develop better automation, yielding growth and better margins in the future. The consistent focus on R&D and data capture has positioned Biotricity with a significant competitive advantage in key cardiac segments of the market, such as AFib.
Dr. Waqaas Al-Siddiq, Founder & CEO of Biotricity, commented, “AFib unfortunately continues to be a leading cardiac risk globally, growing annually at alarming rates. We have purposely designed our ecosystem to monitor the patient 24/7 while leveraging our innovative technology that uniquely combines AI with data and predictive capabilities. In doing so, we can create better and faster analytics for preventative patient monitoring and lifestyle management. For AFib specifically, the ability to significantly narrow the time of diagnosis reduces risk for the patient and liability for the provider, giving our technology the ability to positively impact millions who suffer with AFib globally. Additionally, as we continue to collect more data through our R&D efforts, our internal quality review process will scale and further increase in efficiency, allowing us to continue to grow our margins.”
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:
Investor relations:
KCSA Strategic Communications
Valter Pinto or Jack Perkins
(212) 896-1254
Investors@biotricity.com
Media contacts
Erica Fiorini, Russo Partners
(212) 845-4253
Erica.Fiorini@russopartnersllc.com
