BioSig Expands its Installation Base in Texas

Rhea-AI Summary

BioSig Technologies (Nasdaq: BSGM) announced a new installation agreement for its PURE EP(tm) System at Methodist Hospital in San Antonio, TX, enhancing its presence in the key Texas market. This agreement marks the Company’s 15th installed center, with Methodist Hospital being a high-volume provider of cardiac ablation procedures. The PURE EP(tm) System has shown significant clinical benefits, including a 75% improvement in signal quality according to recent studies. The Company continues to focus on expanding its technology across strategic regions in the Northeast, Texas, and Florida.

Positive

• New installation agreement with Methodist Hospital increases market presence.
• PURE EP(tm) System shows 75% improvement in signal quality.
• Company has 15 installed centers, indicating growth and adoption.
• Targeted commercial launch in key regions (Northeast, Texas, Florida).

Negative

• None.

Signs a new installation agreement with high-volume center in San Antonio

Westport, CT, Nov. 04, 2021 (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 Company is installing a PURE EP(tm) System for an evaluation at the Methodist Hospital in San Antonio, TX, one of the largest hospitals in the United States in terms of the number of available beds. This 90-day evaluation agreement brings the Company up to 15 installed centers.

“Texas is one of the three strategic areas that we are focusing on in the targeted commercial launch phase, and we are very pleased to welcome another Texas center to our customer base. Methodist Hospital conducted over 1800 cardiac ablations last year, and some of our greatest accomplishments have been achieved at similarly high-volume centers. We look forward to bringing our technology to more physicians in Texas to advance our clinical and commercial strategies further,” commented Kenneth L. Londoner, Chairman, and CEO of BioSig Technologies, Inc.

To date, over 71 physicians have completed over 1600 patient cases with the PURE EP(tm) System across thirteen clinical sites. The Company is in a focused commercial launch of the PURE EP(tm) System in the Northeast, Texas, and Florida, and the technology is in regular use in some of the country’s leading centers of excellence, including the Mayo Clinic in Rochester, MN, and St. David’s Medical Center in Austin, TX.  

Clinical data acquired by the PURE EP(tm) System in a multi-center study at Texas Cardiac Arrhythmia Institute at St. David’s Medical Center, Mayo Clinic Jacksonville and Massachusetts General Hospital was recently published in the Journal of Cardiovascular Electrophysiology and is available electronically with open access via the Wiley Online Library. Study results showed 93% consensus across the blinded reviewers with a 75% overall improvement in intracardiac signal quality and confidence in interpreting PURE EP(tm) signals over conventional sources.

One in 18 Americans suffers from a cardiac arrhythmia. Atrial fibrillation is the most common arrhythmia type, affecting over 33 million people worldwide, including over 6 million in the U.S. The number of people suffering from atrial fibrillation is expected to reach 8-12 million by 2050¹. According to the Centers for Disease Control and Prevention (CDC), atrial fibrillation causes more than 750,000 hospitalizations in the U.S. each year, resulting in approximately $6 billion in healthcare spending annually².

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 EP(tm) System is a computerized system intended for acquiring, digitizing, amplifying, filtering, measuring and calculating, displaying, recording, and storing 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.

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¹ Top 10 Things You should Know About Heart Rhythm; Scripps Health.

² Managing Atrial Fibrillation; Lisa Eramom MA, Medical Economics Journal, February 25, 2019, Volume 96, Issue 4

FAQ

What recent agreement did BioSig Technologies announce?

BioSig Technologies announced a new installation agreement for its PURE EP(tm) System at Methodist Hospital in San Antonio, TX.

How many centers have installed the PURE EP(tm) System?

BioSig Technologies now has 15 installed centers for its PURE EP(tm) System.

What percentage improvement in signal quality has the PURE EP(tm) System shown?

The PURE EP(tm) System has shown a 75% overall improvement in intracardiac signal quality.

Where is BioSig focusing its commercial launch of the PURE EP(tm) System?

BioSig is focusing its commercial launch in the Northeast, Texas, and Florida.

What is the significance of Methodist Hospital for BioSig Technologies?

Methodist Hospital is significant as it is one of the largest hospitals in the U.S. and performed over 1800 cardiac ablations last year.