Biotricity Inc Stock Price, News & Analysis

Biotricity, Inc. (NASDAQ:BTCY) has released its first Corporate Impact Report, highlighting the effectiveness of its remote diagnostic devices in improving patient outcomes and reducing healthcare costs. The report showcases the performance of Bioflux, a mobile cardiac telemetry device, and Biotres, a holter technology for remote patient monitoring. Over two years, 14,732 patients diagnosed with atrial fibrillation (AF) have benefitted from early intervention, potentially saving over $330 million in healthcare costs. Additionally, late diagnosis could have cost patients an estimated $1.147 billion. Biotricity is expanding its network, now partnering with over 300 centers and 2,000 physicians across more than 30 states.

Biotricity, Inc. (Nasdaq:BTCY) has reported significant operational achievements since FY22, showcasing its robust growth and innovation in the healthcare market. Key highlights include:

• Recognition by TIME magazine as one of the Best Inventions of 2022 for its Bioheart heart monitor.
• Ranked No. 1 among the Top 10 Most Innovative Medical Device Companies by Fast Company.
• Launch of the Biocare™ Cardiac Disease Management Solution, aiding over 2,000 cardiologists.
• Winning an NIH grant for AI-driven monitoring solutions.
• Expansion to 300+ centers across 30 states.

The healthcare biometric market is projected to grow from $26.9 billion in 2021 to $78.4 billion by 2030.

Biotricity Inc. (Nasdaq:BTCY) reported strong financial results for the third quarter of fiscal 2023, ending December 31, 2022. Revenue grew 27.4% year-over-year to $2.46 million, achieving a gross margin of 57%. The company successfully signed two significant distribution agreements, contributing to its strategic market growth. Notably, Biotricity maintained a 98% customer retention rate, bolstering its subscription revenue model. The net loss was reduced by a third, totaling $4.75 million. As Biotricity focuses on achieving positive cash flow, it plans to optimize its R&D and capex investments while continuing product innovation.

Biotricity Inc. (NASDAQ:BTCY) will host a conference call on February 14, 2023, at 4:30 p.m. ET to discuss its third-quarter financial results for fiscal 2023. The call will cover important financial metrics and provide insights on the company's performance. Interested participants can join via a toll-free number or through a live webcast. A replay of the call will be accessible until February 28, 2023. Biotricity focuses on enhancing remote health monitoring and chronic care management, aiming to bridge gaps in healthcare delivery.

Biotricity (NASDAQ:BTCY) has been selected to present at the 2nd Annual Innovation Showcase during the American Stroke Association 2023 International Stroke Conference in Dallas, TX on February 9. This prestigious event features only eight companies, emphasizing Biotricity's innovation in medical technology. The Company will showcase its research on stroke prediction in patients with chronic kidney disease (CKD), supported by a recent NIH grant. This research aims to improve monitoring and therapeutic strategies for high-risk CKD patients, potentially reducing mortality rates and healthcare costs.

Biotricity Inc. (NASDAQ:BTCY) has announced a second distribution agreement with a leading US medical device distributor for its cardiac monitoring solutions, Bioflux and Biotres. Designed for cardiologists, these solutions will be marketed directly to hospitals and clinics. Founder and CEO Waqaas Al-Siddiq emphasized the significance of advanced technology in enhancing remote patient care. He pointed out that Biotricity aims to capture a share of the $6 billion cardiac care market, delivering 24/7 remote monitoring capabilities that could improve heart disease outcomes.

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.