BioSig Achieves First Commercial Sale of Three PURE EP Systems

Rhea-AI Summary

BioSig Technologies announces a significant commercial expansion through the sale of three PURE EP™ Systems to St. David's HealthCare in Austin, Texas. This marks BioSig's first commercial sale, aimed at expanding its installed base nationwide. The PURE EP™ System has already been utilized in over 410 patient procedures across six hospital sites, demonstrating its traction in the electrophysiology market. The company emphasizes the importance of this sale as it strengthens their relationship with St. David’s Medical Center, a recognized leader in healthcare quality.

Positive

• First commercial sale of PURE EP™ Systems to St. David's HealthCare, enhancing market penetration.
• Over 410 patient procedures completed with the PURE EP™ System across six hospitals, showcasing operational success.

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• None.

Sale Marks Milestone for Company's Commercial expansion at leading Center of Excellence

Westport, CT, Dec. 11, 2020 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the “Company”), a medical technology company commercializing an innovative signal processing platform designed to improve signal fidelity and uncover the full range of ECG and intra-cardiac signals, today announced the purchase of three PURE EP™ Systems by St. David’s HealthCare of Austin, Texas. St. David’s Medical Center, an HCA Healthcare owned hospital, has been recognized with a Malcolm Baldrige National quality award – the highest presidential honor for performance excellence.

“Our first commercial sale to St. David’s HealthCare is an important milestone as we proceed in expanding our installed base nationwide,” said Kenneth L. Londoner, Chairman, and CEO of BioSig Technologies, Inc. “This installation cements our valued relationship with St. David’s and adds to the traction we are gaining in the electrophysiology (EP) market.

BioSig installed the first PURE EP™ System at St. David’s Medical Center in November 2019. Shortly thereafter, Texas Cardiac Arrhythmia Institute (TCAI) at St. David’s Medical Center conducted the first patient cases under the Company’s clinical study, “Novel Cardiac Signal Processing System for Electrophysiology Procedures (PURE EP 2.0 Study).”

To date, more than 410 patient procedures have been conducted with the PURE EP™ System across six different hospital sites in the United States, with over 200 procedures performed at TCAI.

About BioSig Technologies
BioSig Technologies is a medical technology company commercializing a proprietary biomedical signal processing platform designed to improve signal fidelity and uncover the full range of ECG and intra-cardiac signals (www.biosig.com).

The Company’s first product, PURE EPä System is a computerized system intended for acquiring, digitizing, amplifying, filtering, measuring and calculating, displaying, recording and storing of electrocardiographic and intracardiac signals for patients undergoing electrophysiology (EP) procedures in an EP laboratory.

Forward-looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward- looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the geographic, social and economic impact of COVID-19 on our ability to conduct our business and raise capital in the future when needed, (ii) our inability to manufacture our products and product candidates on a commercial scale on our own, or in collaboration with third parties; (iii) difficulties in obtaining financing on commercially reasonable terms; (iv) changes in the size and nature of our competition; (v) loss of one or more key executives or scientists; and (vi) difficulties in securing regulatory approval to market our products and product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise. 

FAQ

What is the significance of BioSig's sale of PURE EP™ Systems on December 11, 2020?

The sale signifies BioSig's first commercial transaction, enhancing its market presence and installed base.

How many PURE EP™ Systems did BioSig sell to St. David's HealthCare?

BioSig sold three PURE EP™ Systems to St. David's HealthCare.

What milestone did BioSig achieve with St. David's HealthCare?

BioSig achieved its first commercial sale to St. David's HealthCare, marking an important milestone in its commercial expansion.

How many procedures have been performed using the PURE EP™ System?

More than 410 procedures have been conducted using the PURE EP™ System across six different U.S. hospital sites.

Which hospital conducted the first patient cases using the PURE EP™ System?

The first patient cases were conducted at Texas Cardiac Arrhythmia Institute, part of St. David's Medical Center.