Biotricity Inc Stock Price, News & Analysis

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.

Biotricity (NASDAQ:BTCY) announced that Waqaas Al-Siddiq, the Founder and CEO, will speak at the American Medical Device Summit on October 19, 2022, in Chicago. The panel discussion focuses on medical devices in at-home patient care and will take place from 4:20 p.m. to 4:55 p.m. CST. The summit will feature over 50 speakers and 200 attendees, providing insights into trends and innovations in medical devices. Biotricity aims to enhance chronic care management and remote monitoring solutions.

Biotricity Inc. (NASDAQ:BTCY) has announced a significant milestone, surpassing 2 billion heartbeats analyzed for Atrial Fibrillation (AFib), a major cardiac arrhythmia. The company utilizes its Bioflux mobile telemetry device for real-time ECG monitoring, enhanced by proprietary AI algorithms. This achievement is positioned to facilitate better automation, scalable operations, and growth in margins. The global AFib market is projected to reach USD 26 billion by 2027, with Biotricity aiming to leverage its R&D capabilities for a competitive edge in predictive monitoring.