Benzinga | Jul 7, 2021 09:37AM EDT

BioSig Technologies Reports Co. Installed Its Technology In A Leading New York City Hospital, No Terms Disclosed

BioSig Technologies, Inc. (NASDAQ:BSGM) ("BioSig" or the "Company"), a medical technology company commercializing an innovative signal processing platform designed to improve signal fidelity and uncover the full range of ECG and intra-cardiac signals, today announced that the Company installed its technology in a leading New York City hospital.

The PURE EP(tm) is a non-invasive class II device that aims to drive procedural efficiency and efficacy in electrophysiology. To date, more than 50 physicians have completed over 1,000 patient cases with the PURE EP(tm) System across twelve clinical sites.

The Northeast is one of the three strategic areas that the Company is focused on in the targeted commercial launch phase. BioSig's PURE EP(tm) technology was installed at New York Presbyterian / Weill Cornell Medical Center in New York, NY, one of the nation's most comprehensive, integrated healthcare systems and New York's top-ranked hospital for 20 years1. Weill Cornell Medical Center which has commenced conducting patient cases with the PURE EP(tm) System in June 2021, offers one of the most extensive electrophysiology programs in the country.

"We are pleased to commence patient cases at one of the best-ranked centers for cardiology in our country and a leading institution in the New York City area. Our clinical strategy focuses on engaging medical centers of excellence that are recognized for their commitment to patient care and their support of clinical innovation and research, and we look forward to advancing our efforts with the Weill Cornell physician team," commented Kenneth L. Londoner, Chairman, and CEO of BioSig Technologies, Inc.

The PURE EP(tm) System has been awarded FDA 510(k) clearance. The Company commenced a targeted commercial launch in 2020 and completed commercial sales to St. David's HealthCare of Austin, Texas, an HCA Healthcare-owned hospital, and Mayo Foundation for Medical Education and Research that acquired multiple PURE EP(tm) units for clinical use across their Minnesota, Florida and Arizona campuses.

One in 18 Americans suffers from cardiac arrhythmia. Atrial fibrillation is the most common arrhythmia type, affecting over 33 million people worldwide, including over 6 million in the U.S. The number of people suffering from atrial fibrillation is expected to reach 8-12 million by 20502. According to the Centers for Disease Control and Prevention (CDC), atrial fibrillation causes more than 750,000 hospitalizations in the U.S. each year, resulting in approximately $6 billion in healthcare spending annually3.