Biotricity Q3 Update For Shareholders
Published: Oct 10, 2017
REDWOOD CITY, Calif., Oct. 10, 2017 (GLOBE NEWSWIRE) -- Biotricity Inc. (OTCQB:BTCY) a medical diagnostic and consumer healthcare technology company dedicated to delivering innovative, biometric remote monitoring solutions, has had a productive third quarter; the Company successfully completed its private placement offering of units consisting of common stock and warrants, is currently on target to achieve FDA clearance for its device hardware, and has asserted itself as a thought leader in several health IT and medical technology publications.
Biotricity successfully completed its private offering in early August 2017; for more details please read the release at https://www.biotricity.com/biotricity-successfully-completes-private-placement/
The Company has already received FDA clearance for its software, and received feedback from the FDA regarding its pending hardware clearance. For more details please read the releases at https://www.biotricity.com/biotricity-fda-submission-update/ and https://www.biotricity.com/update-biotricity-510k-filing/
In July 2017, Biotricity announced its support of progressive changes in telemedicine healthcare policy. The Company believes that the rise of telemedicine at the federal and state levels will lead to further acceptance of remote care delivery. This direction could create opportunities for remote patient monitoring solutions that can be integrated within telemedicine, and heralds a propitious time for the unveiling of the company’s Bioflux solution. For more details please read the release at https://www.biotricity.com/biotricity-supports-telemedicine-policy/
Biotricity’s activity within the industry continues; several articles written by founder and CEO Waqaas Al Siddiq and board advisor Dr. David Liepert received press coverage in leading health IT and medical technology publications. Mr. Al Siddiq wrote two articles for Flarrio discussing artificial intelligence in the healthcare sector and its potential to reshape healthcare from a reactionary system to a preventive one. Mr. Al Siddiq also wrote an article for MPO Magazine, a reputable resource that keeps its finger on the pulse of medical device manufacturing. Writing about artificial intelligence, Mr. Al Siddiq asserts “its propensity for automation, machine intelligence, and refined celerity in analyzing disproportionately large and variegated types of data is ideal for transforming the utility of medical device technologies, empowering both patients and care providers alike.” Dr. David Liepert advocated IoT implementation in the healthcare sector in Health IT Outcomes. To read all Biotricity publications, blogs, and news, please visit: https://www.biotricity.com/newsroom/
The Company concluded its trailblazing third quarter with the implementation of a new blog site, which features posts on healthy living, heart health, medical news, and technology news. To read all Biotricity publications, blogs, and news, please visit https://www.biotricity.com/newsroom/
You can also sign up for newsletter here: https://www.biotricity.com/contact-us/
About Biotricity Inc.
Biotricity is a modern medical technology company focused on delivering innovative, remote biometric monitoring solutions to the medical and consumer markets, including diagnostic and post-diagnostic solutions for chronic conditions and lifestyle improvement. Biotricity’s R&D continues to focus on the preventative healthcare market, with a vision of putting health management into the hands of the individual. The Company aims to support the self-management of critical and chronic conditions with the use of innovative solutions to ease the growing burden on the healthcare system. To learn more, visit www.biotricity.com or follow on Twitter: @biotricity_inc Facebook: facebook.com/Biotricity/ or LinkedIn: linkedin.com/company/Biotricity-measuring-vitals.
Important Cautions Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “should,” “would,” “will,” “could,” “scheduled,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “seek,” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of Bioflux or any of the Company’s other proposed products or services, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance, (iv) the regulatory regime in which the Company operates or intends to operate and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain additional financing, the significant length of time and resources associated with the development of its products and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.