Benzinga | Sep 1, 2021 09:06AM EDT

Biotricity Uplists to Nasdaq, Poses Significant Buying Opportunity for Investors

Image via Biotricity.com

Thursday, August 26, 2021, Biotricity, Inc. (NASDAQ:BTCY) uplisted to Nasdaq after raising $15 million to fuel its continued growth and expansion. Biotricity is a cardiac monitoring and data management company in the medtech arena that provides active, high-quality, real-time 24/7 monitoring and high-end clinical diagnostics through its Bioflux, flagship device.

As a young medtech startup, this is a huge deal. Companies publicly listed on major exchanges, such as Nasdaq, have built a solid reputation and are deemed promising by the investment elite.

The company officially announced the pricing of an underwritten public offering of 5,000,000 shares of common stock at $3 per share, further granting the underwriter of this offering a 30-day option to purchase an additional 750,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The closing of this offering took place on August 30, 2021, and was subject to customary closing conditions.

Shortly after Thursday's listing, prices fell nearly 22% before once again surging past $3 on Friday morning, August 27, 2021. As of Tuesday afternoon, however, shares further increased to around $3.25 per share and are expected to increase even further over the next few months.

While there are always risks in any investment, analysts expect this stock to more than double within the coming year, depending on several catalysts, including its year-over-year, triple-digit growth.

Biotricity is setting new standards in the remote monitoring of patients with chronic health conditions and comorbidities. Using active IoT and wearable technologies, doctors can now monitor their patients in-house, as opposed to sending them out for monitoring elsewhere. This allows physicians to provide ongoing chronic care management and treatment for their most vulnerable of patients and the ability to diagnose their patients immediately.

Existing means for monitoring and diagnosing patients, including outdated, nonconnected monitors that are subject to error and the lapsing of 30 days or more before data can be collected. Eliminating the time spent seeking out 3rd-party data collected from passive monitoring devices, this technology allows doctors to provide their patients with remote diagnostic and post-diagnostic treatment while being alerted to any immediate anomalies within the system or arrhythmia of the patient, ultimately saving lives.

The company currently holds multiple patents with various devices pending FDA approval for production. In total, there are 3 different products ready to be released and 2 products and services in development for future release.

The company provides personal and in-office tools for the monitoring and assessment of patient health with built-in coding, ready for the billing of insurance, including Medicare and Medicaid-related services.

Since the pandemic and the growing demand for telemedicine-related services, Biotricity has seen year-over-year, quarter-over-quarter growth, even reporting a 290% growth in revenue over the last year alone.

Over 1,100 cardiologists currently use Biotricity's Bioflux device and proprietary data management platform at more than 370 different centers across 24 states, with approximately 2.2 million patients served at various offices around the country.

The company was founded by CEO, 36-year-old, Dr. Waqaas Al-Siddiq, whose passion for remote monitoring and sensory networks has led him to design several innovative micro electro-mechanical products for some of the biggest names in machine learning and the medtech industry.

For more on Al-Siddiq, and why his wearables are among the most crucial devices medtech has ever seen, check out this article on Benzinga from August. Also, visit https://www.biotricity.com for additional details on Biotricity and future devices yet to be released.

The author of this article owns shares in one or more of the stocks mentioned.