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Hello Everyone,
We have another exciting profile we want you to research for Tuesday’s session.
This a company that we featured just last month.
Turn your attention to Nasdaq: BTCY.
Biotricity is reforming the healthcare market by bridging the gap in remote monitoring and chronic care management. Doctors and patients trust Biotricity’s unparalleled standard for preventive & personal care, including diagnostic and post-diagnostic solutions for chronic conditions. The company develops comprehensive remote health monitoring solutions for the medical and consumer markets.
There is an ongoing shift in healthcare towards preventive care, which Biotricity is leveraging to modernize chronic care & disease management.
The company believes its diagnostic and post-diagnostic solutions help reduce healthcare costs and detect anomalies earlier than existing monitoring solutions and provide faster and better reporting, as well. BTCY has expanded its salesforce in 2022 and targets further penetration into doctor’s offices and clinics with the recent launch of Biotres and the upcoming launch of other products. The company believes its tech platform is disrupting the traditional cardiac care model. With Biotricity’stechnology, cardiac patients can access advanced diagnostics from their homes using Biotricity devices, and thereby minimize visits to the cardiologist or hospital to times when therapeutic treatment or procedures are needed. The company’s lead product, Bioflux, is designed to detect an arrhythmia, heart attack, ventricular or atrial issue faster and transmit the information to a call center to prevent a traumatic health event faster than a conventional Holter device.
As BTCY moves to grow its share in the cardiac health cloud service niche, the company also seeks to expand horizontally beyond the cardiac market. Biotricity believes its emerging ecosystem offers a user- friendly platform that can be applied to help people suffering with diabetes, obesity, hypertension, sleep apnea, pain management and potentially many other areas.
The company launched Biotres earlier this year. It is a wearable wireless 3-lead patch device for continuous recording of ECG heart data and wider array of arrythmia monitoring.
As BTCY initiatives measures to grow its share in the cardiac health cloud service niche, the company also seeks to expand horizontally beyond cardiac and believes its emerging ecosystem offers a user-friendly platform that can be applied to monitor and assist people suffering with diabetes, obesity, hypertension, sleep apnea, pain management and potentially many other areas of healthcare management.
BTCY CATALYSTS
- Unveiled our personal medical device kit, Biokit, for integration into our Biotricity ecosystem
- Unveiled, Bioheart, a first-of-its kind continuous heart rhythm recorder and personal heart and lifestyle solution
- The Company’s Bioheart personal cardiac monitor won TIME’s Best Inventions of 2022.
- Awarded $250K NIH Grant from the National Heart, Blood, and Lung Institute for AI-Enabled real-time monitoring and predictive analytics for stroke due to chronic kidney failure.
- Surpassed 2 billion recorded and analyzed heartbeats for atrial fibrillation (AFib).
- Launched Biocare Cardiac Disease Management Solution after two successful pilots at Oklahoma & Kentucky Clinics.
- Continued expansion of our network and maintenance of a 95+% retention rate that together drive Biotricity’s residual revenues.
- Operating Highlights for the Q3-FY23 to Date
- Signed agreements with two leading US medical device distributors and one GPO
- Launched Biocare Cardiac Disease Management Solution which is gaining traction, early adoption, and is provided as a bundled service offering to clinics and hospitals
Q3-FY23 Financial Highlights
- Revenue totaled $2.46 million
- Gross profit totaled $1.4 million
- Gross margin of 57%
- Net loss totaled $4.75 million, or $0.091 per share
- Operating Highlights for the Q3-FY23 to Date
READ THE FULL REPORT HERE: https://insiderfinancial.com/newprofile/
Sincerely,
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