Biotricity (OTC: BTCY) is a Medical Technology (MedTech) company that is improving healthcare by bridging the gap in remote monitoring and chronic care management. Biotricity develops comprehensive remote health monitoring solutions for the medical and consumer markets.
Combining real-time monitoring with mobile telemetry, their Bioflux device, is a complete solution for remote cardiac monitoring that currently tracks over 100 billion heartbeats a year. Bioflux several benefits over the passive heart monitoring methods currently in use for patients, physicians, and payers. Remote cardiac monitoring leads to decreased hospitalizations and greater survival rates for patients with atrial arrhythmia.
Patients wear the Bioflux, 23 hours per day for seven to ten days. Unlike passive monitors where physicians have to wait for the device to be returned to check the results, Bioflux uses proprietary software and technology developed in-house to monitor every heartbeat and send results to the physician who is made aware of arrhythmia or other issues immediately. Each device can be used multiple times over the course of its expected life. Biotricity earns a royalty on each use which provides a recurring revenue model for the company and a steady stream of income for physicians.
The benefits of using the Bioflux are so apparent it is seeing widespread acceptance and use. Sales more than doubled from December 2019 through December 2020 and they’re projected to double again in 2021.
In addition to remote heart monitoring, Biotricity also has telemedicine platform and pain management application. They will soon be releasing a personal heart monitor that goes well beyond current fitness watches to provide the information people need to really make a difference in their health.
Biotricity was founded and is led by Dr. Waqaas Al-Siddiq, Phd. Before embarking on the entrepreneurial phase of his career, Dr. Al-Siddiq had a history of innovation at companies that include IBM, AMD and Intel. His work has been recognized at major conferences of the IEEE and National Communications Council.