Biotricity Inc Stock Price, News & Analysis

Biotricity (NASDAQ:BTCY) has announced that CEO Waqaas Alsiddiq will speak at the upcoming Healthcare IT Virtual Conference on January 25, 2023, at 8:15 a.m. ET. This conference, hosted by Maxim Group LLC and M-Vest, addresses technological advancements in healthcare aimed at reducing costs and improving patient outcomes. Participants will explore various companies including Biotricity, focusing on remote monitoring and chronic care management. Attendees can join live by signing up as M-Vest members. For more information and to reserve a seat, visit the provided link.

Biotricity Inc. (NASDAQ:BTCY) announced a partnership with a leading group purchasing organization (GPO) to distribute its cardiac monitoring solutions, Bioflux and Biotres. This collaboration targets hundreds of independent US hospitals and clinics, facilitating bulk purchasing of medical devices. According to CEO Waqaas Al-Siddiq, this agreement is expected to enhance the company’s visibility and drive revenue growth throughout 2023. Biotricity focuses on remote monitoring and chronic care management, aiming to improve cardiology services and patient care.

Biotricity, Inc. (Nasdaq: BTCY) announced a 510(k) submission to the FDA for a new form factor of its Biotres Cardiac Monitoring Device. This device targets the $5 billion holter monitor market, focusing on lower-risk patients. Key features include 3-channel ECG recording, a rechargeable battery lasting 48 hours, wireless connectivity for faster diagnoses, a user-friendly design, and a modular approach for future enhancements. The company aims to improve patient lives and reduce healthcare costs through innovative technology.

Biotricity Inc. (NASDAQ:BTCY) has signed a distribution agreement with a Top 10 US medical distributor to expand the commercialization of its cardiac monitoring solutions, targeting a market of $6 billion. The company has a 95% customer retention rate and significant achievements, including a $250K NIH grant for AI-driven monitoring. Upcoming plans include broadening distribution and developing new products to enhance revenue growth and reduce expenses, aiming for profitability by capitalizing on existing and new partnerships.

Biotricity Inc. (NASDAQ:BTCY) has signed a distribution agreement with a leading US medical device distributor to enhance the availability of its cardiac monitoring solutions, Bioflux and Biotres. This partnership is expected to significantly expand Biotricity's market reach, increasing its total addressable market from $1 billion to approximately $6 billion. The company aims to solidify its position as a comprehensive solution for cardiac diagnostics while planning to provide further partnership details in the coming months.

Biotricity Inc. (NASDAQ:BTCY) reported a revenue of $2.4 million for the fiscal 2023 second quarter, showing a 14% increase sequentially. The gross profit reached $1.3 million, reflecting a gross margin of 54%. Despite this positive revenue growth, the company recorded a net loss of $4.9 million, equating to $0.094 per share. Management highlighted new distribution partnerships and the launch of the Biocare Cardiac Disease Management Solution as key strategies for future profitability, anticipated within 18 months. Notably, the Bioheart monitor received TIME's Best Inventions accolade.

Biotricity Inc. (NASDAQ:BTCY) announced its Bioheart device was included in TIME's Best Inventions of 2022. This continuous heart rhythm monitor offers unlimited heart data insights, transforming consumer cardiac care. Unlike traditional devices, Bioheart provides 24/7 monitoring for comprehensive heart health insights. Biotricity aims to revolutionize cardiac health with this innovative technology, allowing users to track heart metrics via a smartphone app. The company emphasizes its role in preventive health care and remote monitoring solutions.

Biotricity Inc. (NASDAQ:BTCY) announced a conference call on November 14, 2022, at 4:30 p.m. ET to discuss its fiscal 2023 second quarter financial results and provide a business update. The call is accessible via a toll-free number and a webcast link. A replay will be available until November 28, 2022.

Biotricity specializes in remote health monitoring solutions for chronic care management, aiming to fill gaps in preventive health care.

Biotricity (NASDAQ:BTCY) has launched Biocare Cardiac, a comprehensive cardiac disease management solution, following successful pilot programs in Oklahoma and Kentucky. This innovative platform integrates diagnostics, remote patient monitoring, and telemedicine, designed for cardiologists and their patients. Over 2,000 cardiologists are expected to utilize this tool, which provides actionable data to enhance patient care. Monthly reports and alerts enable physicians to intervene promptly based on real-time patient data, potentially improving health outcomes.