Biotricity Inc. (Biotricity) announces its inclusion as a supplier to another major medical system that encompasses 60,000 care providers over 400 hospitals and 400 care centers. This partnership not only expands Biotricity’s market reach but also underscores its commitment to addressing critical gaps in cardiovascular care across the nation.
Biotricity Inc. (Biotricity) today announced ongoing improvements in operational efficiency, scalability and margin performance driven by the latest enhancements to the company’s proprietary AI Cloud platform. The latest version of Biotricity’s AI Cloud has improved the company’s tech stack efficiency by 20%, which is expected to result in a topline margin improvement of 200 to 300 basis points (2 to 3%) in the coming quarters. The next version of the AI Cloud, currently under development, is anticipated to enhance the tech stack by another 20%, contributing to an additional margin improvement of 100 to 200 basis points (1 to 2%). These across-the-board improvements are accelerating Biotricity’s path to breakeven and achieving positive cash flow.
Wedge Networks Inc. (Wedge) announced today that the Wedge Absolute Real-time Threat Protection Platform has been added to the Government of Canada’s Pathway to Commercialization innovations source list, for direct buy purchase by departments and agencies. Each purchase can be for as much as $8M with no limit on the number of purchases by departments. The source listing will be active for a period of 3 years.
Biotricity Inc. (Biotricity) today announced the expanding development of its future Cardiac AI Cloud platform. The new platform is focused on predictive monitoring to help assist physicians and users to identify issues before they occur, supporting earlier interventions, reducing readmissions, and lowering healthcare costs. Biotricity’s product portfolio is already one of the most comprehensive remote cardiac monitoring portfolios globally. This expansion will further enhance its existing products while providing additional advantages.
Wedge Networks (Wedge) announced that it’s partner DLS Technology Corporation [DLS] has been awarded a Government of Canada Supply Arrangement under the Software and Licensing Supply Arrangement [SLSA ] for an additional 5 (five) years, through to 2028. This SA underscores DLS’s commitment to providing modern and secure solutions to our government clients. Government of Canada departments, Crown Corporations, and Government Agencies requiring software, licensing, and solutions support can procure through this vehicle with the confidence that they will receive the most favored pricing from trusted DLS and our partners.
Biotricity Inc. (Biotricity) today reported that it achieved a record $14 million annualized revenue run rate in August, extending its growth by over eight percent from the previously announced $13 million run rate. In its Corporate Impact Report published last spring, Biotricity described both “better patient outcomes and substantial cost savings” for patients using its devices.
Biotricity Inc. (Biotricity) today announced its strengthened relationships with Amazon and Google. The Company is expanding its AI technology development in remote cardiac care, leveraging its proprietary AI technology to provide a suite of predictive monitoring tools to enhance new disease profiling, improve patient management, and revolutionize the healthcare industry for disease prevention.
Biotricity Inc. (Biotricity) today announced that it received notice from The NASDAQ Stock Market LLC (NASDAQ) on July 18, 2023 informing that it has regained compliance with the minimum bid price requirement under NASDAQ Listing Rule 5550(a)(2) for continued listing on The NASDAQ Capital Market. Consequently, Biotricity is now in compliance with all applicable listing standards and its common stock will continue to be listed on The NASDAQ Capital Market.
Biotricity Inc. (Biotricity) today announced that it will effect a reverse stock split of its common stock. Biotricity expects its common stock to begin trading on a split-adjusted basis on the Nasdaq Capital Market as of the commencement of trading on July 3, 2023. The reverse stock split was approved by the Board of Directors of the Company and is intended to increase the per share trading price of the Company’s common stock to satisfy the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market.
Pursuant to the signing of a Letter of Intent (LOI) in December 2022, Seaspring W.L.L. (“Seaspring”) and Asep Medical Holdings Inc. (“Asep Inc.” or the “Company”) have signed a definitive agreement (“agreement”) for a joint venture to advance regulatory approval and commercialization of the Company’s sepsis diagnosis technology (SepsetER TM) in the Kingdom of Bahrain and the Middle East and North Africa (MENA). The terms of the definitive agreement include the formation of a 50/50 joint venture (name to be determined) whereby Seaspring will contribute the capital required (a near-term estimate of USD $5 million that is open-ended
and subject to change) by the joint venture to conduct its business operations (regulatory approval, sales and distribution) and Asep Inc. through its subsidiary Sepset Biosciences Inc., will provide the licensing rights for the use of the SepsetER technology in the Kingdom of Bahrain, Algeria, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates and Yemen.
