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.”
