REDWOOD CITY, CA - Biotricity Inc. (NASDAQ:BTCY), known for its Technology-as-a-Service (TaaS) healthcare solutions, has announced strategic partnerships aimed at expanding its cardiac diagnostics portfolio. These collaborations with a leading home-based neurology company and a leading home-based sleep apnea diagnostic company are set to enhance Biotricity's offerings in comprehensive patient care.
The partnerships come in response to the high prevalence of co-morbidities among patients with sleep and neurological disorders, which significantly increase the risk of cardiac issues. With 39 million people in the United States affected by obstructive sleep apnea (OSA) and a notable percentage of these patients experiencing nocturnal arrhythmias, there is a critical need for integrated healthcare solutions.
The company's initiative is poised to address this need by providing holistic screenings for patients.
Additionally, cardiovascular disease (CVD) is strongly linked to an increased risk of dementia and Alzheimer's disease, with atrial fibrillation—a common cardiac arrhythmia—being associated with a higher incidence of dementia and silent cerebral damage.
Biotricity's CEO and Founder, Dr. Waqaas Al-Siddiq, expressed enthusiasm for the company's broader reach into pulmonology and neurology sectors, emphasizing the potential to deliver comprehensive screenings to previously unreachable patients.
The significance of early detection and management in preventing strokes and heart attacks, which could be up to 80% preventable, is a key driver behind these partnerships. Biotricity and its allies aim to provide early and accessible diagnostic screenings to improve disease management and patient quality of life.
Biotricity is recognized for bridging the gap in remote monitoring and chronic care management, particularly in cardiology. The company offers diagnostic and post-diagnostic solutions for chronic conditions, developing remote health monitoring solutions for both medical and consumer markets.
This expansion initiative is based on a press release statement.
InvestingPro Insights
As Biotricity Inc. (NASDAQ:BTCY) embarks on strategic partnerships to enhance its cardiac diagnostics portfolio, it's important to consider the company's financial health and market performance. With a market capitalization of 12.4 million USD, Biotricity is navigating the competitive healthcare technology sector with a focus on expansion and innovation. Despite a challenging environment, the company has shown a strong return over the last three months, with a 52.31% increase, indicating investor confidence in its growth potential.
An InvestingPro Tip highlights that Biotricity's stock has experienced significant volatility recently, reflecting a 9.66% decrease in price total return over the past week. This suggests that while the company is gaining traction through its strategic initiatives, investors should be mindful of the potential risks associated with such fluctuations.
Another notable InvestingPro Tip is the company's liquidity position, where short-term obligations exceed liquid assets. This could impact Biotricity's ability to respond to immediate financial demands, which is a crucial factor for potential investors to consider.
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