Company Leverages Connectivity-Enabled Holter Capability to Expand Market Reach
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.
“Customers have shown us the importance of traditional Holter monitoring,” said Mr. Casey Shattuck, Global Vice President of Sales at Biotricity. “With Bioflux, we can offer our customers a comprehensive solution in the cardiac suite while alleviating the challenges of Holter monitoring, helping us build a larger customer base and meet the diverse needs of our patients and prescribers.”
About Biotricity Inc.
Biotricity is a modern medical technology company focused on delivering innovative, remote biometric monitoring solutions to the medical and consumer markets, including diagnostic and post-diagnostic solutions for chronic conditions and lifestyle improvement. Biotricity’s R&D continues to focus on the preventative healthcare market, with a vision of putting health management into the hands of the individual. The company aims to support the self-management of critical and chronic conditions with the use of innovative solutions to ease the growing burden on the healthcare system. 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. 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.