Leading Medical Biometric Firm Biotricity Releases First Corporate Impact Report

Rhea-AI Summary

Biotricity, Inc. (NASDAQ:BTCY) has released its first Corporate Impact Report, highlighting the effectiveness of its remote diagnostic devices in improving patient outcomes and reducing healthcare costs. The report showcases the performance of Bioflux, a mobile cardiac telemetry device, and Biotres, a holter technology for remote patient monitoring. Over two years, 14,732 patients diagnosed with atrial fibrillation (AF) have benefitted from early intervention, potentially saving over $330 million in healthcare costs. Additionally, late diagnosis could have cost patients an estimated $1.147 billion. Biotricity is expanding its network, now partnering with over 300 centers and 2,000 physicians across more than 30 states.

Positive

• 14,732 patients diagnosed with AF benefited from early intervention, saving over $330 million.
• Potential savings for patients who could have suffered a stroke exceed $1.147 billion.
• Expansion of partnerships with over 300 centers and 2,000 physicians.
• Demonstrated commitment to improving patient outcomes and reducing costs.

Negative

• None.

"Inducing Better Patient Outcomes, Substantial Cost Savings"

REDWOOD CITY, CA / ACCESSWIRE / April 11, 2023 / Biotricity, Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a leading medical diagnostic and consumer healthcare technology company, has released its first Corporate Impact Report- revealing that the company's remote, clinical-grade diagnostic devices are inducing "better patient outcomes and substantial cost savings" across the nation.

Presenting new data, the report highlights specific examples of Biotricity's impact on "reforming the healthcare market by bridging the gap between effective remote diagnostics, remote patient monitoring and chronic care management."

The report, for example, provides new, compelling data on the impact of Bioflux®, Biotricity's high-precision, single-unit mobile cardiac telemetry device that provides real-time monitoring and transmission of ECG information, and Biotres™, a revolutionary holter technology for remote patient monitoring.

Through the continuous monitoring provided by Bioflux or Biotres, atrial fibrillation can be detected and treated with ablation, avoiding the risk of a stroke.

According to the new report:

Over the past two years, we have had 14,732 patients diagnosed with AF who suffered from intermittent symptoms of syncope, chest pain, palpitations, and supra ventricular tachycardia. By providing these patients with the ability to receive early intervention with anticoagulant therapy or ablation, they could avoid the chance of stroke, thus saving over $330 million for them alone. For patients who may have suffered a stroke due to late diagnosis, these financial savings extend beyond $1.147 billion.

"Biotricity's 2023 Corporate Impact Report reflects our undeniable dedication to our mission of supporting the self-management of critical and chronic conditions, starting with cardiac care, by introducing innovative technologies," said Biotricity Founder and CEO Dr. Waqaas Al-Siddiq. "Our overriding goal is to drive better patient outcomes while reducing healthcare system costs. We look forward to the growth and milestones we'll see in future impact reports as we continue to foster cardiac disease prevention."

Biotricity's rapidly growing impact is further demonstrated by an expanding network of over 300 centers across 30+ states working with over 2,000+ physicians.

About Biotricity

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 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.

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. 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.

SOURCE: Biotricity, Inc.

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FAQ

What does Biotricity's Corporate Impact Report reveal?

The report highlights that Biotricity's remote diagnostic devices improve patient outcomes and save healthcare costs.

How much money has Biotricity potentially saved patients diagnosed with atrial fibrillation?

Biotricity has potentially saved patients over $330 million through early intervention.

How many patients were diagnosed with atrial fibrillation in Biotricity's report?

The report indicates that 14,732 patients were diagnosed with atrial fibrillation.

How many centers and physicians are part of Biotricity's network?

Biotricity has partnerships with over 300 centers and more than 2,000 physicians across 30 states.

What financial impact could late diagnosis of atrial fibrillation have according to Biotricity?

Late diagnosis could have resulted in potential costs exceeding $1.147 billion for patients.