Company to Continue with Normal Operations, Ensures Robust Product Supply for Customers in case of Increased Demand
REDWOOD CITY, Calif., March 20, 2020 (GLOBE NEWSWIRE) -- Biotricity Inc. (OTCQB: BTCY), a medical diagnostic and consumer healthcare technology company, issued a response today to the ongoing COVID-19 impact, reassuring its valued customers, shareholders, and partners that business will continue as usual. The company has taken steps to ensure that its customers have continued access to an increased supply of Bioflux® units as demand for remote patient monitoring grows during this time.
“Healthcare is an essential service and cardiac monitoring a critical component,” said Dr. Waqaas Al-Siddiq, Biotricity Founder and CEO “As a business, our customers remain active through this difficult period. Despite the broader impact that the COVID-19 situation has on the market, we are hearing from our physicians that their higher risk cardiac patients continue to make their clinical appointments. In certain cases, physicians are relying more on remote patient monitoring to support social distancing while maintaining patient care.”
“At Biotricity we understand the importance of the technology that we provide to our customers,” said Dr. Al-Siddiq. “Most importantly, we recognize that patients with heart conditions or troubling symptoms don’t have the luxury of postponing their visits. The entire Biotricity team is committed to supporting our customers during the COVID 19 outbreak. Our operations, sales, engineering, and management teams are all working as normal.”
The COVID-19 situation highlights the importance of real-time monitoring and Biotricity remains committed to providing an uninterrupted product supply for its customers. Real-time monitoring is a key solution during such scenarios, offering the combined benefits of providing physicians and patients with highly precise data for accurate and speedy diagnoses while simultaneously supporting the current mandate for social distancing. Patients are actively monitored from the comfort of their homes, minimizing hospital visits and reducing the risk of potential infection. Future outbreaks will leverage telemedicine and remote patient monitoring to support social distancing while maintaining a high quality of patient care.
“Future healthcare will incorporate a combination of telemedicine and remote patient monitoring,” said Dr. Nayyar Razvi, who is responsible for designing the largest telemedicine system in North America “Today, telemedicine can handle about 30 percent of traditional general practice visits. With remote patient monitoring and remote diagnostics, telemedicine has the potential to shoulder 75 to 80 percent of general practice visits. Effective use of telemedicine can lead to substantial reductions in healthcare costs.”
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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.