REDWOOD CITY, Calif., Aug. 02, 2016 (GLOBE NEWSWIRE) -- Biotricity, Inc. (OTCQB:BTCY), a medical diagnostic and consumer healthcare technology company dedicated to delivering innovative, biometric remote monitoring solutions, has selected AT&T, Inc. as its preferred network partner for providing connectivity to the company’s medical devices.
AT&T, which is currently providing a pilot of the solution, will power Biotricity’s wearable medical devices with near real-time connectivity for data transmission which supports the company’s vision of creating a true Internet of Things (IoT) enabled wearable medical device. Connectivity will commence with the pending launch of Biotricity’s flagship product, the bioflux solution, which is expected to launch by year-end.
Biotricity founder and CEO Waqaas Al-Siddiq commented, “For medical device manufacturers to successfully enter and establish themselves in the new connected healthcare industry, it is imperative that they look beyond traditional forms of technological innovation. IoT, for example, would be an avenue for consideration and medical device manufacturers are uniquely positioned to be successful in this market, as they have a profound understanding of the regulatory process, critical applications, and patient risk. As we prepare to commercialize our first medical solution, we understand the importance of integrating IoT into next generation devices within the regulatory environment, as we believe there will be a true market advantage.”
“IoT will support a new generation of medical devices capable of transmitting data on an ongoing basis that help push care outside of the hospital and allow for continuous care virtually wherever the patients goes,” said Steve Burger, AVP of Business Development and Connected Health, AT&T IoT Solutions. “By wireless enabling their devices, Biotricity will help enable caregivers and healthcare institutions to use their patients’ data in near real-time to make informed and timely decisions.”
The Internet of Things (IoT) is penetrating all sectors of technology at an accelerating pace. IDC predicts the global market for the Internet of Things will nearly triple, reaching $1.7 trillion by 2020. This predicted increase is indicative of the importance IoT will have on innovation within the healthcare industry, and specifically medical devices which can provide relevant near real-time feedback to engage healthcare professionals in a timely manner. IoT connected devices will also allow medical device manufacturers to improve on preventative health care, remote patient home care and critical response care.
By enabling the medical community to perform deep data analytics and ultimately increase the efficiency and effectiveness of care, the utilization of IoT in medical devices will support key initiatives such as preventative care, home care, critical care response and others. In fact, as medical device manufacturers, healthcare practitioners, and enthusiasts continue to embrace the benefits of technology in healthcare, the intersection of medical technology and IoT will become increasingly more important.
About Biotricity Inc.
Biotricity is a modern medical technology company focused on delivering innovative, remote biometric monitoring solutions to the medical and consumer markets, including diagnostic and post-diagnostic solutions for chronic conditions and lifestyle improvement. Biotricity’s R&D continues to focus on the preventative healthcare market, with a vision of putting health management into the hands of the individual. The company aims to support the self-management of critical and chronic conditions with the use of innovative solutions to ease the growing burden on the healthcare system. To learn more, visit www.biotricity.com.
Important Cautions Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of bioflux or any of the Company’s other proposed products or services, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance and (iv) the assumptions underlying or relating to any statement described in points (i), (ii) or (iii) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain additional financing, the significant length of time and resources associated with the development of its products and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.