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
