REDWOOD CITY, Calif., July 14, 2020 (GLOBE NEWSWIRE) -- Biotricity Inc. (OTCQB: BTCY), a medical diagnostic and consumer healthcare technology company announced a strategic partnership with Verizon (NYSE: VZ) to develop EMS solutions for First Responders by integrating its Bioflux solution. Bioflux is a high-precision, single-unit mobile cardiac telemetry (MCT) device that provides real-time monitoring and transmission of patients' ECG information. Integrating the Bioflux solution into Verizon's EMS platform realizes an unmet need for First Responders, enabling them to access critical, potentially life-saving data in real-time and respond immediately in a crisis.
"We at Biotricity are committed to developing innovative technology that provides healthcare workers and medical professionals the vital patient data they need. Collaboration with Verizon offers an exciting avenue for our team of experts to deliver frontline workers a device that provides remote patient diagnostics in real-time and potentially saves lives," said Spencer LaDow, VP of Research & Development.
First Responders require connectivity and specialized equipment to enable immediate response in a crisis. Biotricity’s device provides continuous connectivity, real-time monitoring and diagnostic reporting that will be integrated into Verizon’s current EMS platform, fulfilling an unmet need. Partnering with Verizon allows the company to fill this gap and access a new market while adding a revenue stream. Once integrated, Verizon will use its ecosystem and resources to bring the solution to market.
"Our technology is an obvious fit for a variety of markets, and it is a privilege to see it applied in vital health care areas such as First Responders. As a growing company, we have focused on the remote patient monitoring market but are aware of the potential in other markets for our solutions. Partnerships like this enable us to expand our opportunities, creating new revenue streams, while focusing on our core market," said Dr. Al-Siddiq, CEO of Biotricity.
To learn more about this partnership, read Verizon’s Press Release here.
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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.
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,” “project,” or “goal” 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, objectives and goals of management for future operations, including plans, objectives or goals 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.
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