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Wow over 53 percent shorted again yesterday. Close High Low Volume Short Volume % of Vol Shorted
Jul 23 NA NA NA 22,301 11,925 53.47
Wow 64.12 percent of the days volume shorted again ! Close High Low Volume Short Volume % of Vol Shorted
Jul 22 17,038 10,924 64.12
Date Close High Low Volume Short Volume % of Vol Shorted
Jul 19 NA NA NA 2,796 301 10.77
REDWOOD CITY, Calif., June 19, 2019 (GLOBE NEWSWIRE) -- Biotricity Inc. (OTCQB: BTCY), a medical diagnostic and consumer healthcare technology company, today announced that it has expanded its fleet of Bioflux devices to meet customer demand. Bioflux is a real-time, single-unit mobile cardiac telemetry (MCT) solution, that is used by physicians to remotely monitor a patient’s ECG information.
“Our sales expansion is yielding results and we see a consistent increase in sales as a result of our anchor clients recommending us to other medical professionals,” said Mr. Waqaas Al-Siddiq, Biotricity Founder and CEO. “Without any new device placements, the units currently at our customer sites are projected to deliver over $2 million in recurring technology fee revenues over the next 12 months. Long-term, we are a technology company with a pipeline of complimentary remote patient monitoring and pre-emptive diagnostic technologies that will allow us to leapfrog and build on our existing platform. We are just getting started.”
The Company designed its horizontal technology platform to align with the Centers for Medicare and Medicaid Services’ (CMS) stated plan to cut $57 billion in costs from US public healthcare spending by moving unnecessary inpatient care to outpatient care. This shift is increasingly made possible due to advances in remote patient monitoring (RPM) initiatives and preemptive diagnostics. It also has the potential to improve patient care and save additional lives while curbing significant healthcare costs.
Since it achieved FDA clearance, Bioflux has experienced a high adoption rate in anchor clinics since its 2018 limited market release. In 2019, the Company transitioned to full U.S. release, doubling its small sales force and expanding its footprint to 11 key states, with plans to expand further. In the month of May 2019 alone, the Company experienced a 59 percent increase in the number of devices in the field.
“Bioflux has completely transformed the way I monitor and diagnose my heart patients,” said Dr. Cesare Saponieri, MD. “The solution is designed with customizable options and high clinician usability in mind, lending itself to seamless integration with a physician’s practice. The ease with which my patients were able to use the device has made Bioflux the only choice for us
Btcy is just in its infancy and with just a small amount of devices already deployed they are projected to generate 2 million a year with recurring revenue. A small increase in devices s deployed , that can easily generate 10 to 20 million a year . At 20x Price-to-Sales Ratio. in sales in the coming years, BTCY could be worth $200 to $400 million. That's $9 to $18 for the stock,
The product launch is now in the ramp up stage and Biotricity has hired a rock star team for the endeavor.
The company brought on Casey Shattuck to serve as their Vice President of Sales, initializing and spearheading the Bioflux launch this year and for the ramp up .His background at startup cardiology focused companies speaks volumes. NASDAQ-listed CardioThoracic Systems, Inc. was acquired for $380 million in 1999, and FoxHollow Technologies for about $780 million in cash and stock in 2007. Shattuck's experience in these start-up environments, and their subsequent long-term success, should portend good things for the Bioflux launch and revenue stage
Biotricity is now focusing on the growth of its commercial organization, sales growth, market expansion, and the development of new product applications in the coming year. The Company has already established this foundation with its flagship Bioflux solution.—. Now they are starting their next phase, soon no longer just a start up
Not much time left to get cheap shares
REDWOOD CITY, Calif., May 07, 2019 (GLOBE NEWSWIRE) -- Biotricity Inc. (OTCQB: BTCY), a medical diagnostic and consumer healthcare technology company, today provided a progress report for its fiscal 2018 fourth quarter, which ended March 31, 2019. The company continues to execute its plans to grow its sales force, expand its geographic footprint, and reach more Americans with its life-saving technology. The company’s flagship product, Bioflux, was met with a high adoption rate in the clinical community throughout the soft launch of the past year, leading to positive customer feedback and steady re-order rates. Unaudited results for its fiscal 2018 fourth quarter indicate a 49 percent quarter over quarter increase in recurring technology revenues.
“Our sales force is now comprised of 10 seasoned professionals, each with a proven track record of introducing disruptive cardiovascular technologies to the marketplace,” said Mr. Waqaas Al-Siddiq, Biotricity Founder and CEO. “Our recurring technology revenue stream reflects a strong trajectory of quarter over quarter growth, and we continue to execute well on our strategic objectives, including driving the commercialization of Bioflux. Our anchor customers are now recommending Bioflux to their colleagues, allowing for our expansion into new and high-growth markets.”
Biotricity will continue to facilitate the development of future medical devices that are easy to utilize in either the physician’s office or the patient’s home, and in acute-care settings. These medical-grade devices are comfortable, small, and can offer precise remote data collection and more responsive care. In the coming year, the company will continue to evolve and adapt its technology for a wide range of medical applications.
“In recent months we have expanded our market penetration from 7 to 11 states, leaving us plenty of room for growth,” said Mr. Casey Shattuck, Global VP of Sales. “The growing connected-health market continues to fuel the demand for real-time, remote patient monitoring (RPM) devices, and offers our company tremendous opportunities to grow. Our focus now is to direct that growth into avenues where we can combine the greatest revenue opportunities with the greatest human capital. We have cutting-edge technology, a team of experts in place, and the increasing bandwidth to expand our geographic reach.”
Picked up another 24000 at .814
Have a gut feeling something great is just around the corner
This device is a true four-in-one device, offering the ability to not only perform MCT studies, but to also outperform much of its competition by also providing Holter, Event Loop and Extended Holter reporting. Based on these customer facing enhancements that improve customer service and its success with its initial limited market review, the Company is now in a position to expand commercialization of its first product beyond the initial limited launch.
Over 136000 now
Biotricity Achieves Market Expansion in Two New States
REDWOOD CITY, Calif., March 27, 2019 (GLOBE NEWSWIRE) -- Biotricity Inc. (OTCQB: BTCY), a medical diagnostic and consumer healthcare technology company, has expanded its sales team to cover two additional states in the US that are key to driving faster adoption of its flagship product, Bioflux. The Company has been experiencing great traction with its technology in the marketplace and is taking the opportunity to capitalize on its momentum and increase its regional footprint. Biotricity is confident that broadening its influence through expansion in high growth sectors will help accelerate sales, drive revenue, and develop market share.
"Our Bioflux was met with a high adoption rate in the clinical community throughout our soft launch over the past year," said Casey Shattuck, Biotricity Global VP of Sales. "From a sales perspective, I have tremendous confidence in our expansion based on the overwhelmingly positive customer feedback we've received and our re-order rates thus far."
The Company's remote patient monitoring device Bioflux monitors a patient's ECG in near real-time, constantly analyzing and collecting data on the device and periodically uploading to the cloud via embedded cellular technology.
"Our expansion comes on the heels of great reception in other states," said Mr. Waqaas Al-Siddiq, Biotricity Founder and CEO. "We have secured loyal anchor clients in key industry markets with great customer feedback. This has bolstered our confidence and we believe we are well placed to grow and to kick off the next phase of the Company."
Biotricity is growing its presence in the connected-health market; an estimated 36 million patients are expected to be equipped with remote monitoring devices by 2020. With Bioflux, Biotricity believes doctors will have unprecedented levels of relevancy and timeliness to patient ECG information.
REDWOOD CITY, Calif., March 19, 2019 (GLOBE NEWSWIRE) -- Biotricity Inc. (OTCQB: BTCY), a medical diagnostic and consumer healthcare technology company, is pleased to announce further buildout of its R&D team, with the engagement of the Biomedical Engineering Department at the University of Calgary. The expanded team will include a Biomedical Engineering (BME) fellow under Dr. Ferber, Director of Biomedical Engineering’s Human Performance Laboratory, who will explore and develop effective representations of both fetal/maternal heart rate variability (HRV) and electro-hysterography (labor contraction monitoring) in pregnancy. Dr. Ferber and the BME Department have extensive experience working with industry leaders, including Garmin and Nike, on practical applications.
Dr. Ferber and the BME fellow will use clinical data gathered from expectant mothers in active labor, supporting their analysis with U of C’s Engineering faculty’s recognized expertise in signal processing. In conjunction with the U of C Cumming School of Medicine, the monitoring systems will be optimized and clinically validated, building on both the initial ICU based testing of the Bioflux prototype and commonly accepted heart-rate based algorithms used to assess babies during labor. The Bioflux prototype has already identified a fundamental and easily demonstrated difference in the relationship between heart rate and HRV, in sickness and in wellness. Biotricity will also facilitate all parties in their investigation to determine what role artificial intelligence can play in assisting with clinical interpretation.
The Company looks forward to the development of two new product lines with a clinical and consumer model, similar to the Bioflux and future Biolife product dynamic. Combining Biotricity’s high-fidelity electrically based monitoring with actual clinical data and BME’s proven engineering expertise, the U of C/Biotricity program is expected to produce systems to facilitate mobile monitoring for both mothers and babies prior to and during delivery. The expertise in data-processing efficiency and effective information display design will also be applicable to the Company’s ongoing program using HRV monitoring to track wellness and sickness in both ambulatory consumers and in patients under care across a broad range of medical and surgical indications.
Dr. David Liepert, QA/QI and Safety Lead and Director for the University of Calgary Cumming School of Medicine Department of Anesthesia commented, “Biotricity CEO Waqaas Al-Siddiq has created an unprecedented developmental partnership between Calgary University’s Schools of Medicine and Engineering. As a medical educator, I feel that the opportunity for both residents and fellows to work with Biotricity’s wet-lead and dry-lead systems, machine learning, and AI is foundational. As a Quality and Safety Director, I believe that providing higher quality information and guidance with less discomfort and risk is a game-changer for the healthcare industry.”
Appropriate pre-habilitation and post-surgical rehabilitation has been shown to save up to $2,000 dollars per patient and per surgery. Today, 89 percent of laboring patients in North America currently receive electronic fetal monitoring using either lower fidelity and less precise sound-based electrodes or higher fidelity fetal scalp electrodes. Labor contraction and pressure monitoring inserted through the vagina is used in approximately 15 percent of deliveries. Both electrode monitoring and trans-vaginal intrauterine pressure monitoring are invasive techniques that introduce possible trauma, infection and patient discomfort. Remote fetal/maternal monitoring has been shown to lead to better prenatal health outcomes by identifying certain high-risk conditions such as pre-eclampsia earlier and with more precision, providing timely interventions to resolve high-risk conditions and enabling a more convenient delivery of prenatal care. Long term, it will facilitate safer and more comfortable labor room care with reduced costs, making unforeseeable risks less costly and more predictable, manageable and potentially preventable.
Biotricity seeks to facilitate the development of future medical devices that are easy to utilize in either the physician’s office or the patient’s home as well as in acute-care settings. These medical-grade wearable devices are comfortable, small and can offer precise remote data collection and more responsive care.
I am locked and loaded with over 40000 shares
Locked and loaded.Numbers should be good this filing
Earning due on February 14 th
Billybahama. Glad to have you here .
Glad to see you see many issues with the computation. The computation has old tech which has to b dumped at the end the cycle.The computation can not be viewed realtime from anywhere or place. I agree with you many issues with the computation
Think of it this way , the holter monitor has been around for along time old tech, the next best thing was the loop recorder , new tech but still not advanced enough., this could take over most of this 9 billion a year industry how much money ?? is BTCY worth. Even if they just get say 20 percent within the next two years , that's 1.8 billion .Take that and divide by say 100 millions n shares and you get 18 dollars a share and that's just for this industry.
Click link , then click on all 2018 winners , scroll through them and you will find BTCY , winner of best remote patient monotony system. They even bet out BEAT. https://medtechbreakthrough.com/award-winners/
This is just the start of great things to come
People who bought in at 60 cent or so, sold out . I sold a little at 2.05. And bought back at 1.45. Have. Over 80000! Shares and counting,.
I believe it is around feb 14 or so , since their last q was nov 14th
BTCY has made 100 thousand with just a small niddle of the cardiac monitoring business. They are now after a high bite of the whole cardiac business, what do you think that will net them.My guess is at least 100 million in the first 6 months. “We believe the future is in real-time, connected healthcare," said Mr. Waqaas Al-Siddiq, Biotricity Founder and CEO. "While MCT monitoring has always been the primary focus of our Bioflux solution, we are starting to realize that there is a significant demand for Holter services because many physicians value the traditional approach offered by short-term monitoring. As a result, we are now pursuing the ENTIRE cardiac arrhythmia market to expand our revenue growth opportunities."
As described above, the Company has commenced the commercialization of its first product on April 1, 2018, rolling out a limited market review to carefully rollout of its sales program to identified anchor customers in targeted areas of the U.S. In this initial six month period, the company has earned gross revenues of $102,420.
As disclosed at the time of receiving the recent final Food and Drug Administration clearance, Biotricity immediately commenced the third-party manufacture of devices and hired its initial go-to-market sales force, choosing to launch limited market reviews of its device and the workflows associated with doctor and patient use, including the operations of the monitoring centers that this workflow entails. Though they can entail small amounts of revenue, the primary focus of these limited market reviews is the development of key opinion leaders that will work with the Company to improve the use of the device and all of the associated workflows in order to enhance commercialization and sales penetration in the areas we have chosen for initial launch.
CURRENT ASSETS
Cash
83,254
843,643
Accounts receivable, no allowance
43,436
-
Inventory, net
179,430
-
Harmonized sales tax recoverable
51,316
35,737
Deposits and other receivables
28,984
17,046
Total current assets
386,420
896,426
Deposits and other receivables
33,000
33,000
TOTAL ASSETS
No insider selling. Heavily shorted . Look at today for example mostly all buys and price drops. They are nipping in the heels of BEAT and the likes, so shorting is expected. Buy as much as you can before the end of fist q next year. They will soon release numbers sold and rev made, that will kill the shorts. I would expect them to uplist some time in 2019.
Sorry to say BTCY is going to take some of BEat market share. REDWOOD CITY, Calif., Dec. 04, 2018 (GLOBE NEWSWIRE) -- Biotricity Inc. (OTCQB: BTCY), a medical diagnostic and consumer healthcare technology company, today announced that it will be actively pursuing the Holter market in addition to the MCT market with its Bioflux product offering, expanding its revenue growth opportunities. Bioflux is a 3 in 1 monitoring solution, offering mobile cardiac telemetry (MCT), event, and Holter monitoring. Until now, the Company has primarily focused on the MCT market, recognizing that the future of patient monitoring lies in its real-time and remote capacities. This is because healthcare delivery is undergoing a seismic shift as connectivity becomes cheaper and ubiquitous, and as medical procedures and the point of care shifts to outpatient settings.
"We believe the future is in real-time, connected healthcare," said Mr. Waqaas Al-Siddiq, Biotricity Founder and CEO. "While MCT monitoring has always been the primary focus of our Bioflux solution, we are starting to realize that there is a significant demand for Holter services because many physicians value the traditional approach offered by short-term monitoring. As a result, we are now pursuing the entire cardiac arrhythmia market to expand our revenue growth opportunities."
Biotricity's unique Holter capability leverages the Company's mobile cardiac telemetry (MCT) technology and is connectivity-enabled, which means that physicians are able to ensure in real-time that patient data is being collected accurately during the prescribed study period. Traditional Holter monitors typically have no connectivity, which effectively precludes physicians from ensuring that patient data is being collected during a study period until after the study has been completed. With its Holter capability, Biotricity can access clear ECG traces on a Holter report at any time, ensuring the collection of high-fidelity patient data. Physicians whose patients are using Bioflux are able to initiate a Holter study and obtain a high-quality, full-featured Holter report through an automated portal workflow quickly and conveniently
Bioflux1—advanced remote cardiac monitoring technology engineered to
assist diagnoses of heart conditions, enhance patient outcomes, augment revenue capture, and curb healthcare costs
Bioflux is a high-precision, single-unit mobile cardiac telemetry (MCT) device that provides real-time monitoring and transmission of your ambulatory patients’ ECG information. Together with our proprietary software, highly customizable reports, and 24/7 monitoring center, the Bioflux system is a complete solution for remote cardiac monitoring that merges seamlessly with physicians’ existing platforms and workflows.
Biotricity_Bioflux_3_T
Our device features
Bioflux MCT device is a single unit that both monitors and transmits your ambulatory patients' ECG information
3 channels of remote ECG data, recorded for up to 30 days, that offer increased diagnostic yield
Our proprietary, FDA-cleared software featuring advanced beat and arrhythmia auto-detection for increased clinical yield
Remotely programmable auto-triggers on bradycardia, tachycardia, atrial fibrillation, and pauses are customizable to your specific requirements for each patient
Leveraging IoT-connectivity on 3G and 4G cellular networks
A sampling rate of up to 1000 readings per second, providing unparalleled clinical precision
A compact, comfortable and single-piece design that encourages patient use
An intuitive LCD touchscreen interface and a single-use event button make the device simple for both clinicians and patients to operate
Security measures to enhance patient confidentiality
Our service includes
A 24/7, CMS-cleared monitoring center staffed by certified cardiac technicians, registered nurses, and arrhythmia professionals providing an exceptional level of customer service
Highly customizable reports tailored to a physician’s individual requirements are available through our secure online portal, and may be emailed or faxed to the interpreting physician
A secure cloud storage system that manages unlimited data. This enables physicians to single out data trends, and request highly-specific customized analysis and reports at any time
Our unique model enables
Physicians and medical facilities to purchase Bioflux device and software license bundles at a fraction of the cost of alternatives
Physicians to bill under both the professional and technical CPT codes for each MCT patient while also utilizing their insurance
The convenience of a monthly flat-rate invoice for each patient—with your patients never getting a bill from Biotricity
The simplicity of enrolling your patient online, activating the device, and letting our monitoring center do the rest
Bioflux1—answering the need for improved cardiac monitoring
Great progress has been made in the treatment of cardiovascular disease (CVD). And yet, CVD is listed as the underlying cause of the deaths of more than 800,000 people in the US each year.2 That’s about one death every 40 seconds. That far exceeds the toll of all types of cancer combined. In fact, almost a third of all deaths in the US each year—from all causes—are attributable to CVD.
An estimated 85.6 million Americans, or 35% of the country’s population, suffer from one or more types of CVD. Contrary to stereotypes, only about half are over the age of 60, and the numbers of men and women are roughly equal.
30.8%
Fraction of all deaths in the US attributable to CVD
48.9%
Fraction of American adults with CVD who are under 60
49.7%
Fraction of American adults with CVD who are female
Making matters worse, the costs imposed by CVD on severely over-burdened healthcare systems are staggering. Annual health expenditures in the US linked to coronary heart disease and congestive heart failure total more than $200 billion per year. The American Heart Association predicts that number will almost double by 2030.
To maximize the benefits of advances in medical treatment, technology is needed that will help physicians diagnose cardiovascular diseases both precisely and early in their development. Biotricity is answering that call with Bioflux
Biotricity_Vision
To bring about this vision, Biotricity has built a platform for both diagnostic monitoring and post-diagnostic chronic care solutions. Biotricity’s platform is comprised of three key components: an IoT hardware with built-in cellular connectivity, an embedded Real Time Operating System (RTOS), and the cloud for analysis and management of both data and devices.
Our flagship product, the Bioflux, is the first application of this platform where we have tailored our IoT hardware, RTOS and cloud for the diagnostic cardiac market. The next step is launching our second application, Biolife, that leverages our platform for the post-diagnostic cardiac market. We are committed to applying our platform in new chronic care markets while continuing to develop and advance each component well into the future
Biotricity_Technology_2
IoT Hardware
The hardware is designed with adaptability in mind – hardware so flexible, it can be applied to different applications simply by changing the sensors integrated. All aspects of the hardware platform are designed in accordance to electrical and medical safety and emissions standards. It comprises a built-in global 4G cellular modem and a DSP microprocessor for real-time analytics.
Key Features Include:
Integrated Quad Band 4G Cellular Modem
– SIM or CDMA
– Can be upgraded to 5G
DSP Microprocessor for real-time algorithms
Built-in A-GPS and GPS
Hardware FDA 510(k) cleared
FCC registered
PTCRB certified
IEC 60601-1 Safety Compliant
IEC 60601-1-2 Safety Compliant
IEC 60601-1-11 At Home Safety Compliant
ISO 10993-1 Biocompatibility
Embedded Real Time Operating System (RTOS)
Biotricity has built a custom RTOS designed and architected for the most critical applications. The OS is built on embedded C and designed to maximize battery life and facilitate real-time analysis through algorithms.
Key Features Include:
Embedded C
Built in accordance to FDA regulatory standard IEC 62304
Real-time algorithm engine
– Supports remote triggering and alerts
Built-in Security for transmission and privacy
Cloud
The cloud aspect of the platform serves a variety of functions such as device management, data management, data storage, third party data access, third party device integration, and deep data analytics. The cloud framework is designed so that tailored applications, such as our Bioflux solution, are built on top of the framework and consume cloud services and features.
Key features include:
Dynamically scalable for performance
Complete IoT device management built-in
HIPAA-compliant and non-HIPAA environments
APIs for third party device integration
Data aggregator/puller from other
REDWOOD CITY, Calif., Dec. 04, 2018 (GLOBE NEWSWIRE) -- Biotricity Inc. (OTCQB: BTCY), a medical diagnostic and consumer healthcare technology company, today announced that it will be actively pursuing the Holter market in addition to the MCT market with its Bioflux product offering, expanding its revenue growth opportunities. Bioflux is a 3 in 1 monitoring solution, offering mobile cardiac telemetry (MCT), event, and Holter monitoring. Until now, the Company has primarily focused on the MCT market, recognizing that the future of patient monitoring lies in its real-time and remote capacities. This is because healthcare delivery is undergoing a seismic shift as connectivity becomes cheaper and ubiquitous, and as medical procedures and the point of care shifts to outpatient settings.
"We believe the future is in real-time, connected healthcare," said Mr. Waqaas Al-Siddiq, Biotricity Founder and CEO. "While MCT monitoring has always been the primary focus of our Bioflux solution, we are starting to realize that there is a significant demand for Holter services because many physicians value the traditional approach offered by short-term monitoring. As a result, we are now pursuing the entire cardiac arrhythmia market to expand our revenue growth opportunities."
Biotricity's unique Holter capability leverages the Company's mobile cardiac telemetry (MCT) technology and is connectivity-enabled, which means that physicians are able to ensure in real-time that patient data is being collected accurately during the prescribed study period. Traditional Holter monitors typically have no connectivity, which effectively precludes physicians from ensuring that patient data is being collected during a study period until after the study has been completed. With its Holter capability, Biotricity can access clear ECG traces on a Holter report at any time, ensuring the collection of high-fidelity patient data. Physicians whose patients are using Bioflux are able to initiate a Holter study and obtain a high-quality, full-featured Holter report through an automated portal workflow quickly and conveniently
BTCY is a medical grade biotelemetry device with FDA accurate EKG which the Dr can view anytime realtime via internet . Billing for device to insurance companies with CPT codes already in place.Also CPT codes in place so Dr can bill for reading EKG. CPT codes needed to insure that insurance companies will pay for device and reading.CPT codes are not easy to get. Do you realize that nether apple or Fitbit can not be Graded medical device because EKG is my FDA approved nor do they have CPT codes.
The Company is continuing to develop “Biopatch,” an ECG patch which it anticipates filing with the FDA by Q1 2019. An extension of Biotricity’s award-winning Bioflux device, Biopatch offers an alternative to the 3-lead system which is ideal for patients with less complicated cardiac conditions. The patch leverages the capabilities of Bioflux and provides wireless arrhythmia monitoring for patients who are either at risk for, or diagnosed with, certain cardiac issues. Small, comfortable, and effective, Biopatch will ensure patients with atrial fibrillation (AFib) and other cardiac issues receive early diagnosis and preemptive care from their physicians, and will support the shift to outpatient care.
The future of medical gadgets appears to be headed towards medical-grade wearables that will be increasingly smaller and accurate enough to detect warning signs and facilitate a diagnosis. Biotricity is pleased to see how consumer-based devices like the new Apple Watch are creating awareness among consumers about possible heart issues, which will lead many to seek medical care to determine if they have an issue. Once identified, healthcare providers can prescribe medical grade wearables such as Bioflux for continuous, real-time monitoring of a patient’s ECG to diagnose their exact condition and determine the appropriate medical care. This latest market activity has garnered increased media interest and press coverage from leading health and med device publications.
Biotricity is also expanding its Scientific and Medical Alliance Board with eminent cardiologists who will lend their expertise to help Biotricity tailor its solution for chronic care management and for preemptive heart disease identification in new markets. The Company has extended an Advisory Board Membership invitation to several candidates and all have accepted; the Company will provide further details in the coming months. The Biotricity Scientific and Medical Alliance Board recognizes members for advancing scientific and clinical excellence through dedicated collaboration and industry leadership.
Bioflux 1.0 sales growth and market expansion achieved a record high during the fiscal 2018 second quarter; the Company experienced a 150% increase in total device sales and a 75% increase in new customers from Q1. Bioflux is an FDA-approved, medical-grade remote patient monitoring device that monitors a patient’s ECG in real-time, constantly analyzing and collecting data on the device and periodically uploading to the cloud via embedded cellular technology.
“The momentum and growth trends we saw during the last quarter not only continued but have accelerated in the second quarter,” said Mr. Waqaas Al-Siddiq, Founder and CEO of Biotricity. “We have had strong performance in new U.S. state markets, and we are confident this trend will continue.”
Existing customers continued to purchase additional units, reaffirming customer satisfaction. The Company is pleased to report a 62% increase in repeat customer orders from Q1. “Our anchor clients are developing loyalty to our product, and we
REDWOOD CITY, Calif., Apr. 03, 2018 (GLOBE NEWSWIRE) — Biotricity Inc. (OTCQB:BTCY), a medical diagnostic and consumer healthcare technology company dedicated to delivering innovative, biometric remote monitoring solutions, today provided a progress update for the end of the 2017 fiscal year which ended on March 31 2018, reported its 2018 goals, and issued its first ever shareholder letter.
“We are pleased with the progress we achieved during the past year, most notably receiving 510(k) clearance for our Bioflux device,” said Mr. Waqaas Al-Siddiq, Founder and CEO of Biotricity. “We remain deeply focused on continuing to advance our Bioflux 1.0 market entry, developing future applications in connected healthcare markets, and driving shareholder value. The remote patient monitoring industry is growing at an exponential rate and we believe our platform is poised to disrupt this space, offering a turnkey solution for patients and physicians.”
To view the Biotricity Shareholder Letter please visit: Biotricity Shareholder Letter
2017 Milestones Include:
Achieved 510(k) clearance for Bioflux 1.0
Closed a registered direct offering with existing shareholders
Commenced extending the capabilities of the Company’s remote patient monitoring (RPM) platform with artificial intelligence (AI)
Began to build its sales force and expanded pilot sites to accelerate market entry
Received ethics approval to investigate mobile wireless fetal monitoring
2018 Goals:
Launch Bioflux 1.0 by end of Q2, with first revenues expected in early Q3
Begin clinical benchmarking of device level AI in Q3
Deploy cloud-based AI for Bioflux 1.0 in Q3
Complete Bioflux 2.0 development & prototyping and file 510(k) application with FDA by end of Q4Anticipate development of Biolife by end of Q3 with prototypes available by end of Q4
Test and prototype Biotricity’s next remote patient monitoring solutions, with details to be announced in Q3
List on a National Exchange
“This will be a fast-paced year for the Company with expectations for the first revenue recognition for Bioflux 1.0, the filing of our second 510(k), and the announcement of our next RPM market
BTcy is now going after holter monitor business