Biotres - FDA cleared

Biotricity now taking pre-orders for its Biotres wireless wearable cardiac monitoring device

  • Announcement follows FDA clearance
  • Pre-Orders begin on February 23, 2022 with units shipping April 1, 2022

FEBRUARY 23, 2022 | BY BIOTRICITY

REDWOOD CITY, Calif., Feb 23, 2022 (ACCESSWIRE)Biotricity Inc. (NASDAQ:BTCY) (“Biotricity” or the “Company”), a medical diagnostic and consumer healthcare technology company, today announced that it is now taking pre-orders for Biotres, the Company’s three-lead device designed to continuously record electro-cardiogram (ECG) data for early detection of cardiac arrhythmias.

The Company believes that its wireless, wearable Biotres device offers a secondary product for doctors and hospitals to meet their patients’ cardiac monitoring needs and addresses the $5.7 billion cardiac arrhythmia monitoring devices market.

The conventional one-lead patch Holter monitor has been the standard of care for cardiac monitoring, typically worn from 24 hours up to a couple weeks and requires patients to send back the device for data uploading, after which a formal analysis can be performed. This can take up to 2 weeks after the study has ended. Biotres has the ability to disrupt the market with its three-lead patch device for continuous recording of ECG heart data and remote data uploading, providing for a faster diagnosis.

“Since announcing our recent FDA clearance last month for our Biotres product, we have received substantial interest in pre-orders,” said Dr. Waqaas Al-Siddiq, Biotricity Founder and CEO. “We believe that our Biotres entirely changes the Holter market. Currently, all patch players are outsourced services with one-channel devices that often require manual data download and aren’t rechargeable vs. our insourced solution that enables providers to bill with a more sophisticated rechargeable three-channel device with automated data uploading.

“We are quickly becoming a leader for providing cost-effective early detection solutions — with seamless integration into our Biosphere ecosystem — for remote monitoring with our growing suite of products,” he added. “As we are encouraged by the early demand that we are receiving, we look forward to reporting on our commercialization strategy and sales momentum in the coming months.”

Customers/providers can pre-order by clicking here.

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. 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 $3.4 million. 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 contacts

Bospar
prforbiotricity@bospar.com

Investor relations:

Biotricity Investor Relations
Investors@biotricity.com
1.800.951.3348

Mark Forney
MKR Group, Inc.
12198 Ventura Blvd., Suite 200
Los Angeles, CA 91604
mark@mkrir.com