World News: 13:00 GMT Friday 11th January 2019. [biotricity via Globe Newswire via SPi World News]
REDWOOD CITY, Calif., Jan. 11, 2019 (GLOBE NEWSWIRE) -- (OTCQB), a medical diagnostic and consumer healthcare technology company, is providing an end of year update to its shareholders.
“2018 was an exciting year for Biotricity as we launched our first medical-grade device into the growing cardiac market and received great reception from our initial sales forays,” said Mr. Waqaas Al-Siddiq, Biotricity Founder and CEO. “While still early in the launch, we’re thrilled by the validation Bioflux has experienced thus far and we are expanding our sales organization substantially this year as a result. Our technology and solution are solid, and both our sales growth and market adoption continue to surpass our expectations each quarter. We fully expect this trend to continue and believe that continued success will increase our market and shareholder value.”
The Company experienced a 211% growth in sales from Q2 2018 to Q3 2018. In addition, new device placements increased 182% from Q2 2018 to Q3 2018. These results were based on the initial targeted launch executed in 2018 to ensure the product met or exceeded customer expectations in both device quality and user experience. The company expects this sales growth to continue as the technology is introduced into additional territories in the United States.
“Biotricity offers an exciting platform in the cardiovascular space as it provides 24/7 real-time monitoring and high quality, precise metrics compared to other competitive devices I have used,” said Dr. James Higgins, a Biotricity customer who specializes in Interventional Cardiology and Cardiac Electrophysiology. "With healthcare increasingly moving towards outpatient care and remote patient monitoring, I fully expect that the demand for this type of technology will increase dramatically in the near future. I also believe Biotricity is well positioned for future growth based on their desired entry into other indications such as fetal monitoring and the chronic disease market.”
Biotricity is now focusing on the growth of its commercial organization, sales growth, market expansion, and the development of new product applications in the coming year. The Company has already established this foundation with its flagship Bioflux solution.
The Company details the following list of accomplishments and upcoming milestones:
“We appreciate the commitment of our existing shareholders and we will continue to be prudent in executing future transactions that maximize shareholder value and minimize risk,” said Mr. Al-Siddiq. “We believe Biotricity has a great opportunity as we expand our commercial footprint and continue to innovate for physicians and patients alike. I look forward to providing updates in the near-term on our latest initiatives.”
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Globe Newswire: 13:00 GMT Friday 11th January 2019
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