Biotricity Launches Cardiac Monitoring Pilot Program with Major Hospital Network

Rhea-AI Summary

Biotricity Inc. (NASDAQ:BTCY) launches a cardiac monitoring pilot program with a major hospital network, spanning over 50 hospitals across multiple states. The program aims to showcase the value of Biotricity's solutions and potentially lead to a widespread commercial rollout. Dr. Waqaas Al-Siddiq, Biotricity's CEO, highlights the company's enhanced market reach through partnerships with Group Purchasing Organizations (GPOs) and emphasizes the scalability of their hardware and software solutions. The pilot program will focus on data collection, patient interaction protocols refinement, and technology suite enhancement to drive innovation in predictive monitoring tools and disease prevention.

Positive

• Biotricity's partnership with a major hospital network for a pilot program showcases the company's commitment to revolutionizing the medical diagnostic and consumer healthcare field.
• The collaboration with leading Group Purchasing Organizations (GPOs) has expanded Biotricity's market reach, enabling access to nine out of 10 hospitals.
• The pilot program's success is important for demonstrating the scalability and real-world impact of Biotricity's solutions, paving the way for widespread adoption across the healthcare landscape.
• Biotricity's focus on data collection, patient interaction protocols refinement, and technology suite enhancement underscores the company's dedication to driving innovation in predictive monitoring tools and disease prevention.
• The technology-as-a-service model ensures accessibility to state-of-the-art tools without the high costs typically associated with advanced medical technologies.
• Biotricity's suite of remote diagnostic and patient monitoring solutions targets a $35 billion market opportunity, positioning the company for significant growth and market expansion.

Negative

• None.

REDWOOD CITY, CA / ACCESSWIRE / April 16, 2024 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a leading Technology-as-a-Service (TaaS) company revolutionizing the medical diagnostic and consumer healthcare field, launched a pilot program with a major hospital network, encompassing over 50 hospitals across multiple states. The pilot program will demonstrate the value of Biotricity's cardiac monitoring solutions, setting the stage for a potential large-scale commercial rollout across the network.

"Our partnerships with leading Group Purchasing Organizations (GPOs) have rapidly enhanced our visibility and market reach, and this latest pilot program is a direct result of that improved access," said Dr. Waqaas Al-Siddiq, Biotricity founder and CEO. "We now have access to nine out of 10 hospitals through our GPO partners, placing us in an extremely strong position to secure additional pilot programs with other major hospital networks.Ultimately, our advanced hardware and proprietary software solutions are highly scalable. Successful pilots like this are crucial as they demonstrate the real-world impact and scalability of our solutions, setting the stage for widespread adoption across the healthcare landscape. Combined with our expanded reach, this not only strengthens our market position, it significantly accelerates our path to profitability."

As part of the pilot program, Biotricity will collaborate closely with the hospital network to gather data, refine patient interaction protocols, and enhance the overall utility of its technology suite. This initiative is expected to provide valuable insights that will further drive the evolution of Biotricity's solutions suite to deliver award-winning, best-in-class predictive monitoring tools that pave the way for groundbreaking disease profiling, enhanced patient management, and a transformative approach to disease prevention.

Biotricity's technology-as-a-service model ensures that state-of-the-art tools are accessible without the prohibitive costs typically associated with advanced medical technologies. Biotricity's suite of innovative remote diagnostic and patient monitoring solutions address a $35 billion market opportunity.

About Biotricity

Biotricity is transforming the healthcare market by bridging the gap in remote monitoring and chronic care management with a focus on cardiology. Physicians and patients trust Biotricity's unparalleled standard for preventive and 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 and follow us on Twitter and LinkedIn.

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 several 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 because 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. The Company assumes no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the date of this release.

Investor Relations Contacts

investors@biotricity.com

Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
BTCY@redchip.com

SOURCE: Biotricity, Inc.

View the original press release on accesswire.com

FAQ

What pilot program did Biotricity launch with a major hospital network?

Biotricity launched a cardiac monitoring pilot program with a major hospital network.

How many hospitals are included in the pilot program?

The pilot program encompasses over 50 hospitals across multiple states.

Who is the CEO of Biotricity?

Dr. Waqaas Al-Siddiq is the founder and CEO of Biotricity.

What market opportunity does Biotricity's suite of solutions address?

Biotricity's suite of innovative remote diagnostic and patient monitoring solutions address a $35 billion market opportunity.

What is the technology-as-a-service model in Biotricity's business?

Biotricity's technology-as-a-service model ensures accessibility to state-of-the-art tools without the high costs typically associated with advanced medical technologies.