Medical Biometric Firm Biotricity Reshaping Market Through Pioneering Innovation

Rhea-AI Summary

Biotricity, Inc. (Nasdaq:BTCY) has reported significant operational achievements since FY22, showcasing its robust growth and innovation in the healthcare market. Key highlights include:

• Recognition by TIME magazine as one of the Best Inventions of 2022 for its Bioheart heart monitor.
• Ranked No. 1 among the Top 10 Most Innovative Medical Device Companies by Fast Company.
• Launch of the Biocare™ Cardiac Disease Management Solution, aiding over 2,000 cardiologists.
• Winning an NIH grant for AI-driven monitoring solutions.
• Expansion to 300+ centers across 30 states.

The healthcare biometric market is projected to grow from $26.9 billion in 2021 to $78.4 billion by 2030.

Positive

• Recognition by TIME magazine as one of the Best Inventions of 2022 for Bioheart.
• Ranked No. 1 among Fast Company's Top 10 Most Innovative Medical Device Companies.
• Launch of Biocare™ Cardiac Disease Management Solution for over 2,000 cardiologists.
• Awarded NIH Grant for AI-enabled monitoring and predictive analytics.
• Expansion of network to over 300 centers and 2,000 physicians.

Negative

• None.

Highlights Several Major Operating Milestones Since FY22

REDWOOD CITY, CA / ACCESSWIRE / March 7, 2023 / Biotricity, Inc. (Nasdaq:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, has not only been establishing a significant market footprint through its robust revenue growth but also reshaping its marketplace through continuous pioneering innovation. Today, Biotricity highlighted several of its major operating achievements since fiscal year 2022.

These achievements include:

• Being honored by TIME magazine: Biotricity's Bioheart device named to TIME's list of the Best Inventions of 2022. Bioheart is the first of its kind - a continuous heart rhythm monitor using advanced technology to deliver unlimited heart data insights. Bioheart's uninterrupted monitoring keeps you informed about your heart 24/7.
• Being recognized on Fast Company's list of the World's 50 Most Innovative Companies in 2022, and ranked No. 1 in the Top 10 Most Innovative Medical Device Companies.
• Launch of Biocare™ Cardiac Disease Management Solution: designed to expand Biotricity's existing remote monitoring tools used today by more than 2,000 cardiologists nationwide, the easy-to-use solution puts actionable data at the physicians' fingertips to assist them in making treatment decisions quickly.
• Releasing a personal version of Biocare Cardiac, a cardiac health application for individuals diagnosed with, or at risk for, cardiovascular disease for personal disease management.
• Winning an NIH Grant from the National Heart, Blood, and Lung Institute for AI-enabled real-time monitoring and predictive analytics for stroke due to chronic kidney failure. This grant is supporting development of Biotricity's Bioflux-AI - an innovative AI-driven system with real-time monitoring and prediction capabilities to be used to investigate stroke episodes in chronic kidney disease patients.
• Receiving 510(k) Clearance for Biotres and launching the wireless wearable holter patch device, Biotres™ ‒ a revolutionary holter technology that represents the future of remote patient monitoring.
• Unveiling Biokit, a personal medical device kit for integration into the Biotricity ecosystem.
• Expanding its network to 300+ centers across 30+ states with 2,000+ physicians.
• Realizing a significant milestone of recording and analyzing over 2 billion heartbeats for atrial fibrillation (AFib), the most common type of cardiac arrhythmia and a leading cause of stroke. Bioflux®, Biotricity's high-precision, single-unit mobile cardiac telemetry device that provides real-time monitoring and transmission of the patient's ECG information, has captured billions of heartbeats to date.

"We're deeply proud of these accomplishments because they result from the hard work of an exceptional team, innovative products and technology, and a corporate mission aligned well with the needs of a surging marketplace," said Biotricity Founder and CEO Dr. Waqaas Al-Siddiq. "Because we've achieved so much thus far, we're optimistic that we can achieve so much more in the years ahead."

Market analysis company Market Research Future valued the healthcare biometric market at $26.9 billion in 2021 and has projected it to achieve a value of $78.4 billion by 2030 - expanding at a 22.3% compound annual growth rate.

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.

Contacts:

Media Relations:
STiR-communications
Greg Salsburg
greg@STiR-communications.com

Investor Relations:
Biotricity Investor Relations
investors@biotricity.com

SOURCE: Biotricity, Inc.

View source version on accesswire.com:
https://www.accesswire.com/742338/Medical-Biometric-Firm-Biotricity-Reshaping-Market-Through-Pioneering-Innovation

FAQ

What recent achievements has Biotricity (BTCY) accomplished?

Biotricity highlighted several milestones, including recognition from TIME magazine and Fast Company, the launch of new cardiac solutions, and expansion to over 300 medical centers.

How is Biotricity's Bioheart device rated in the market?

Bioheart was named one of TIME's Best Inventions of 2022 for its continuous heart monitoring capabilities.

What is the market projection for the healthcare biometric industry?

The healthcare biometric market is projected to grow from $26.9 billion in 2021 to $78.4 billion by 2030.

What new solutions did Biotricity launch for cardiologists?

Biotricity launched the Biocare™ Cardiac Disease Management Solution to assist over 2,000 cardiologists in making informed treatment decisions.

Did Biotricity receive any grants recently?

Yes, Biotricity won an NIH Grant for developing AI-enabled real-time monitoring for stroke patients.