Current Footprint - Bioflux®
Portfolio of complementary technologies:
- Biotres ® - FDA cleared
- Bioheart ® - consumer product currently in initial production
- Biocare® App – about to go through field testing
- Bioflux® 2 – in alpha prototyping
Large Scale production in place.
Medicare Reimbursement in place.
Cardiologists across 29 states use the Bioflux daily.
Currently have over 500 centers across 29 states: focused on expanding salesforce to expand footprint.
Our sales force is comprised of seasoned professionals, each with a proven track record of introducing disruptive cardiovascular technologies to the marketplace.
Use a proprietary data tool to identify target markets within the US, based on CMS reimbursement data.
More Key Details From The Company Presentation.
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And as I mentioned above, BTCY has 5 potential catalysts that could provide it with a breakout spark. Here they are:
No. 1 BTCY Potential Catalyst - Zacks Small-Cap Research Provides $7.50 Price Target
In 2022, BTCY was tagged with a strong target from Zacks Small-Cap Research that is providing this profile with over 500% potential upside from Monday's closing valuation.
Here's some key details from the report:
Valuation
We are optimistic about the outlook for BTCY’s technology and ecosystem as the company expands both distribution and its product and service offerings. At this early stage in its development, it is difficult to compare BTCY to other companies on traditional valuation metrics such as P/E or EV/ EBITDA, in our view. We therefore value BTCY shares using a peer comparables valuation methodology based on EV/Sales.
We appreciate the company’s runway and addressable market for additional penetration of its network for Bioflux, the Biotres launch contribution and the recurring revenues stream and shift in the sales mix towards higher margin TaaS over time. We therefore think the current share price level does not reflect the fundamental value of the company’s prospects. As the company continues to advance its strategy, we would anticipate multiple and share price expansion. We believe accelerating revenue ramp as both Bioflux and Biotres gain traction could be catalysts.
Although the revenue arc for BTCY is somewhat unclear at this stage because of many variables, including whether the pandemic has a lingering impact and global logistics challenges, we believe it reasonable to project that BTCY can attain revenue in the $40-$45Mn range by FY25-FY26. We reach $7.50 valuation per share based on peer group median of 9.0x EV/sales applied to this anticipated range, which includes a ramp-up in contribution from Biotres, Bioflux and other offerings in development.
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No. 2 BTCY Potential Catalyst - Company Recaps Recent Milestones And Achievements (Highlights Bright Future)
Biotricity Provides Updates on its Operational and Expansion Strategy
Recent announcement with Top 10 National Medical Distributor underscores Company's expanded footprint
REDWOOD CITY, CA / ACCESSWIRE / November 18, 2022 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, provided a recap of its recent operational and corporate activities and discussed the Company's distribution strategy for the second half of FY 2023 ending March 31, 2023.
Recent Operating and Corporate Highlights
- Recently signed a distribution agreement with a Top 10 US medical distributor for sales of its flagship cardiac monitoring solutions, Bioflux and Biotres. This partnership further expands the Company's commercialization opportunities to reach its target total addressable market of approximately $6Bn
- Continued expansion of Biotricity's sales network, combined with a 95% customer retention rate, that together drive Biotricity's growing base of recurring revenue
- The Company's Bioheart personal cardiac monitor won TIME's Best Inventions of 2022
- Awarded $250K NIH grant from the National Heart, Blood, and Lung Institute for AI-enabled real-time monitoring and predictive analytics for stroke due to chronic kidney failure
- Surpassed 2 billion recorded and analyzed heartbeats for atrial fibrillation (A-fib)
- Launched proprietary BiocareTM cardiac disease management solution after two successful pilots at Oklahoma & Kentucky clinics
Looking ahead, Biotricity's strategy is to strengthen cash flow, reduce capital expenditures, capture market share of this fast-growing marketplace, drive top-line growth and enhance its industry position through unrivalled customer and physician/partner service. As such, the Company is cross- and up-selling its full suite of cardiac monitoring products to its customer base to position itself as the leading provider of a complete, AI-enabled, cloud-based cardiac ecosystem -- creating a deeper, more impactful relationship with healthcare providers and patients.
Additionally, having established its product and technological position, Biotricity is initiating a far more extensive distribution strategy focused on partnering with medical device distributors with large salesforces to create a much wider, branded footprint within the market.
Upcoming Catalysts and Growth Drivers
- Broadening the distribution and reach of its comprehensive suite of cardiac care management products and services
- Additional agreements with hospitals, vendors and medical device distribution outlets
- New product developments anticipated within the next several months
- Expected continued revenue growth while reducing capital expenses thus advancing towards pro-fit-ability
Dr. Waqaas Al-Siddiq, Founder & CEO of Biotricity, commented, "During the first half of fiscal 2023, we have made significant operational achievements that have contributed to the success of our Bioheart device, and the growth and adoption of our cardiac ecosystem in the medical space. We are actively working with several hospitals, vendors and distributors and are heavily focused on broader distribution for our cardiac care solutions. Our recent agreement with a Top 10 national medical device distributor underscores our focus on the expansion of our footprint. New product development is in our DNA and opens new revenue channels while reinforcing the value and application of our ecosystem. With these catalysts actively underway, we fully expect revenue to continue to grow, shortening our path to pro-fit-ability."
Read the full article here.
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No. 3 BTCY Potential Catalyst - Revenue Continues To Grow... What Will 2023 Hold?
Biotricity Surpasses $10Mn in Annual Revenue Run Rate
Company Delivers Revenue Growth in 9 Out of the last 10 Consecutive Quarters
REDWOOD CITY, CA / ACCESSWIRE / November 21, 2022 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, today announced it has surpassed $10Mn in annual revenue run rate.
"With strong revenue growth each quarter, our scale and market reach increases every day," says Biotricity Founder and CEO, Dr. Waqaas Al-Siddiq. "I am committed to continuing to drive growth and realize our potential. Our focus remains on providing the cardiac health market with disruptive, superior digital and AI technology at competitive pricing with unrivaled support to our customers and physician partnerships."
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Read the full article here.
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No. 4 BTCY Potential Catalyst - Signing Of Game-Changing Distro Agreement
Biotricity Signs Distribution Agreement to Expand Access for its Cardiac Monitoring Solutions
REDWOOD CITY, CA / ACCESSWIRE / November 16, 2022 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, has signed a distribution agreement with one of the Top 10 US medical device distributors to distribute its cardiac monitoring solutions, Bioflux and Biotres.
"Our focus as a company is on advancing our product development and commercialization to establish Biotricity as the all-in-one, go-to solution for cardiac diagnostics and disease management. We are focusing on building relationships with established organizations with unprecedented leadership in the industry. We believe this partnership will be instrumental in advancing the availability of our solutions, expanding our supply chain, and supporting our growth. Over the next couple months, we will be providing further details on this partnership as we begin our rollout."
With the commercialization of its Bioflux and Biotres products, Biotricity has increased its total addressable market from $1Bn to approximately $6Bn.
Read the full article here.
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No. 5 BTCY Potential Catalyst - Company's Device Added To Prestigious TIME Magazine List
Biotricity's Bioheart Named to TIME's List of The Best Inventions of 2022
Bioheart provides consumers the most advanced personal heart monitoring technology, combining powerful analytics and continuous heart monitoring for personalized heart insights
REDWOOD CITY, CA / ACCESSWIRE / November 10, 2022 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, today announced that its Bioheart device has been named to TIME's list of the Best Inventions of 2022. Bioheart is the first of its kind - a continuous heart rhythm monitor using advanced technology to deliver unlimited heart data insights.
Cardiac issues are intermittent, often asymptomatic, and lifelong in nature, requiring continuous heart activity monitoring. Fitness trackers simply collect your heart rate and personal ECG devices manually collect a few minutes of data, leaving you without the full picture. Bioheart changes everything by creating the first heart activity monitor. Whether you are sleeping, sitting, or out exploring the world, Bioheart's uninterrupted monitoring keeps you informed about your heart 24/7.
TIME reveals its annual list of the Best Inventions, which features 200 extraordinary innovations changing our lives: time.com/best-inventions-2022. To compile the list, TIME solicited nominations from TIME's editors and correspondents around the world, as well as through an online application process, paying special attention to growing fields-such as the electric vehicle industry, green energy, and the metaverse. TIME then evaluated each contender on a number of key factors, including originality, efficacy, ambition, and impact.
Of the New Best Inventions list, TIME's editors wrote: "The result is a list of 200 groundbreaking inventions (and 50 special mention inventions)- including life-mapping artificial intelligence, diamonds made from excess carbon in the air, and the most powerful telescope ever-that are changing how we live, work, play, and think about what's possible."
"We are honored and excited to have our premier consumer product, Bioheart, included in TIME's 2022 list," commented Dr. Waqaas Al-Siddiq, Founder and CEO of Biotricity. "Our mission is to disrupt and transform the state of cardiac health and wellness, worldwide. Bioheart is the beginning of this journey."
Read the full article here.
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BTCY Recap - The 5 Top Potential Breakout Catalysts To Know
No. 1 - Zacks Small-Cap Research Provides $7.50 Price Target
No. 2 - Company Recaps Recent Milestones And Achievements (Highlights Bright Future)
No. 3 - Revenue Continues To Grow... What Will 2023 Hold?
No. 4 - Signing Of Game-Changing Distro Agreement
No. 5 - Company's Device Added To Prestigious TIME Magazine List
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Coverage is officially reinitiated on BTCY. When time permits, do this:
