Biotricity expands into Canadian cardiology market
Investing.com | Editor Emilio Ghigini
Published Feb 29, 2024 08:22AM ET
REDWOOD CITY, CA - Biotricity Inc. (NASDAQ:BTCY), a medical diagnostic and consumer healthcare technology company, has received Health Canada approval to enter the Canadian Cardiology Devices market, valued at US$1.56 billion. This regulatory milestone allows Biotricity to offer its flagship product, Biotres, to the Canadian market, where cardiovascular disease accounts for a significant portion of healthcare costs.
Cardiovascular disease is a major health issue in Canada, affecting about 8.3% of adults and leading to numerous hospitalizations. Biotricity's Biotres device is designed to address the needs of over 2.4 million Canadians living with heart disease and related conditions. The approval of Biotres aligns with the company's mission to provide innovative diagnostic solutions that empower individuals to manage their health proactively.
Dr. Waqaas Al-Siddiq, Biotricity Founder and CEO, expressed enthusiasm about the opportunity to contribute to the health and well-being of Canadians. Biotricity aims to leverage the growing wearable technology market, which is expected to see a significant increase in the healthcare sector.
The company positions itself at the forefront of the digital treatment and care market in Canada, which is anticipated to grow annually. Biotricity's commitment to innovation is reflected in its development of cardiac monitoring devices and a remote monitoring platform that provides precision and personalized healthcare measures.
Biotricity's entry into the Canadian market is based on the press release statement and represents a strategic move to address a significant health concern while expanding its market reach. The company's focus on cardiovascular health and remote monitoring solutions aligns with the increasing demand for accessible healthcare technologies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.