CEO interview, btcy, biotricity
AUSTIN, Texas, March 16, 2021 (GLOBE NEWSWIRE) -- SmallCapVoice.com Inc. (“SCV”) announces the availability of a new interview with Dr. Waqaas Al-Siddiq, CEO of Biotricity Inc. (OTCQB: BTCY) (“the Company”), a modern medical technology company delivering disruptive solutions to the multi-billion-dollar cardiac monitoring and diagnostic market.
Biotricity’s flagship Bioflux® product is a wearable medical device that enables physicians to accurately monitor and diagnose cardiac patients in real-time for effective treatment and pain management. While this technology alone targets a massive demographic, the Company’s full pipeline of remote cardiac monitoring and diagnostic solutions provides access to a multi-billion-dollar market hungry for digital innovation.
Speaking with SCV’s Stuart Smith, Dr. Al-Siddiq describes how Biotricity builds and delivers its technology to benefit patients, care providers and the broader healthcare industry, while building long-term value for the Company.
“What we’ve noticed primarily across healthcare, is that technology is owned by clinical players – players that are actually performing the diagnostic tests,” he says. “Our model is very different. We want to enable physicians, hospitals and organizations to do that work so we can stay focused on things of a technology company.”
Biotricity’s monitoring devices are built in-house and are reusable, which saves on costs and enables exponential revenue growth through a recurring technology fee and greater market reach.
“That’s where we have been really fortunate to have a cycle of growth over growth,” explains Dr. Al-Siddiq. “We have a sales force, and the idea is for us to continue to open up more clinics, more hospitals, and get our devices into more hands.”
Biotricity currently has a sales presence in 20 U.S. states. Near-term growth plans include launching more products from the Company’s pipeline and expanding its sales force to target a larger addressable market.
“The most successful medical device and pharma companies have a direct sales force in their key markets and then they have distribution elsewhere,” says Dr. Al-Siddiq. “We are following the exact same track.”
Dr. Al-Siddiq also highlights the experience of Biotricity’s staff and how it was able to leverage that expertise to stride through the challenges of the pandemic and meet demand for remote monitoring.
“Intelligent monitoring and the value of it became very, very clear because of the pandemic,” he says. “The awareness and the need for it increased. The ability to sell was of course limited, but despite that, we were able to grow … Once this pandemic is more under control, I think it’s going to actually crate a boost in our growth in the long term.”
As the Company ramps up its sales force, it is also focused on the release of a new product and uplisting to a national exchange for greater visibility. Of significance, says Dr. Al-Siddiq, is for investors to remember Biotricity’s application to the healthcare industry and how that affects revenues.
“We are a technology company, not a clinical company,” he tells Smith. “Our focus is providing technology to physicians and healthcare companies in a business model that is anchored in reimbursement and a reoccurring revenue model. That is something that creates and accelerated growth and gives us a very high value long term. Being a technology player with a reoccurring business model places us at the top of the food chain when it comes to how to value the company. And we’ve done that in a very specific and concerted way.”