Biotricity Signs with Top 5 Group Purchasing Organization; Potential for Higher Sales Volume in 2023
Biotricity Inc. (NASDAQ:BTCY) announced a partnership with a leading group purchasing organization (GPO) to distribute its cardiac monitoring solutions, Bioflux and Biotres. This collaboration targets hundreds of independent US hospitals and clinics, facilitating bulk purchasing of medical devices. According to CEO Waqaas Al-Siddiq, this agreement is expected to enhance the company’s visibility and drive revenue growth throughout 2023. Biotricity focuses on remote monitoring and chronic care management, aiming to improve cardiology services and patient care.
- Partnership with a major GPO expected to increase product visibility and distribution.
- Potential for significant revenue growth through expanded sales channels in 2023.
- None.
REDWOOD CITY, CA / ACCESSWIRE / January 17, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, announced it has signed an agreement with a leading group purchasing organization ("GPO") for national distribution of its cardiac monitoring solutions, Bioflux® and BiotresTM.
Both Bioflux and Biotres are designed for cardiologists to diagnose and monitor their patients remotely. GPO's are entities comprised of businesses organized to purchase materials or supplies from vendors in larger volumes to gain efficiency. In this case, the GPO is comprised of hundreds of small, independent US hospitals, private clinics, and medical offices that purchase medical devices and supplies at scale.
"Becoming a newly featured vendor of state-of-the-art cardiac monitoring solutions with a leading medical device & supplies GPO, will boost our visibility industry-wide," said Waqaas Al-Siddiq, Ph.D., Biotricity Founder, Chairman and CEO. "We anticipate increasing revenue growth across 2023 through the expansion of our products' availability through these new sales channels."
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 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
Investor Relations Contacts
investors@biotricity.com
SOURCE: Biotricity Inc.
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