Biotricity to Launch Commercial Sales of Its Disruptive Cardiac Monitoring Device, Biotres in April 2022

Rhea-AI Summary

Biotricity (NASDAQ:BTCY) announced pre-order sales of its FDA-cleared wireless wearable device, Biotres, designed for early detection of cardiac arrhythmias. Official commercial sales will launch in April 2022, following strong pre-order demand from physicians and individual users. Biotres, a three-lead device, enhances ECG monitoring efficiency compared to traditional Holter monitors, positioning the company to tap into a $5.7 billion market. Biotricity plans to expand its product line throughout 2022, aiming to increase revenue and customer reach.

Positive

• Strong pre-order interest for Biotres since late-February 2022.
• FDA 510(k) clearance received in January 2022, opening a $5.7 billion market.
• Potential to disrupt the $2 billion Holter market with a more efficient product.

Negative

• None.

• Company reports pre-order sales from existing customers of its wireless wearable device for early detection of cardiac arrhythmias

REDWOOD CITY, CA / ACCESSWIRE / March 22, 2022 / Biotricity, Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, will officially launch the commercial sales of its FDA cleared, wireless wearable cardiac monitoring device, Biotres, in April 2022. The product has been available for pre-orders to physicians, medical offices, hospitals and individual use since late-February 2022.

Biotres is the Company's revolutionary technology that represents the future of Remote Patient Monitoring and the delivery of real-time diagnostic data. It serves as a three-lead device designed to continuously record electrocardiogram (ECG) data for early detection of cardiac arrhythmias, disrupting the conventional one-lead patch Holter monitor which takes longer analysis time and diagnosis time.

Biotres received FDA 510(k) clearance in January 2022, opening up a new market and expanding Biotricity's total addressable market to $5.7 Billion. Since taking pre-orders last month, the Company has experienced strong demand for Biotres from existing customers. The Company has plans to roll out additional complementary products throughout 2022, following the same approach as Biotres. Each solution will grow the company's TAM, creating new revenue streams for existing customers while expanding its customer base.

Dr. Waqaas Al-Siddiq, Biotricity Founder and CEO, commented, "After months of anticipation, our Biotres product is finally available for sale. Judging by the amount of pre-order interest we've seen since February, Biotres can provide millions of individuals with an early detection method to easily and efficiently record cardiac arrhythmias. We are optimally positioned to penetrate a $2 billion-dollar holter market that needs a faster and more efficient approach, critical to improving patient lives."

You can purchase biotres through the following link: https://www.biotricity.com/biotres/

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. 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.

CONTACT:
Investor Relations:
Biotricity Inc.
(800) 590-4155
investors@biotricity.com

Media Relations
Erica Fiorini, Russo Partners
(212) 845-4253
Erica.Fiorini@russopartnersllc.com

SOURCE: Biotricity, Inc.

View source version on accesswire.com:
https://www.accesswire.com/694088/Biotricity-to-Launch-Commercial-Sales-of-Its-Disruptive-Cardiac-Monitoring-Device-Biotres-in-April-2022

FAQ

What is Biotricity's stock symbol?

Biotricity's stock symbol is BTCY.

When will Biotricity launch its Biotres device?

Biotricity will launch its Biotres device for commercial sales in April 2022.

What is the significance of Biotres in cardiac monitoring?

Biotres offers early detection of cardiac arrhythmias with a more efficient ECG monitoring than traditional Holter devices.

What market does Biotricity aim to penetrate with Biotres?

Biotricity aims to penetrate a $5.7 billion market with its Biotres device.

How has the pre-order sales performance been for Biotres?

Pre-order sales for Biotres have shown strong demand from existing customers.