H.C. Wainwright analyst, Kevin Dede, commented:
"We are initiating coverage of Biotricity with a Buy rating and setting a potentially conservative $6 price target not only on account of the horizontal expansion marketing its solution in cardiac care to 25,000 U.S. physicians, but also on the profound trajectory toward the full ecosystem of care monitoring solutions for cardiac-related and/or influenced chronic conditions such as diabetes, hypertension, kidney disease, among others.
And while Biotricity has growth avenues to incorporate artificial intelligence-driven automation into its remote monitoring of many facets of holistic cardiac care—the vertical expansion alluded to—we see Biotricity, on its cardiac solution, Bioflux, alone presenting an enticing in-vest-ment as Bioflux supports better outcomes while providing doctors avenues to offer greater services.
With the support of a fully FDA approved device and multiple insurance codes, Bioflux produces electrocardiogram (ECG or EKG) results while patients are living their normal lives. The readings, stored in the cloud, present physiological insight for physicians in determining the next course of action in long-term care, and in the meantime, doctors may choose an alternative course and demand another office visit, an additional income event beyond the only-a-phone-visit 'telehealth' financial paradigm. For this reason, in concert with broad insurance coverage—sensible, we think, in light of physically fragile patients needing full-time monitoring in recognizing a negative trigger event—we expect doctors to continue to buy and use Biotricity's Bioflux.
For perspective on scale, at $500 each, and roughly 2,000 patients per each of the 25,000 base U.S. cardiac physicians, that when added to additional devices and services required to address associated cardiac-related afflictions, points to a $50B addressable market, and greater detail on this assessment is provided later in this report.
From our perspective, longer-term targets tied to kidney disease and other associated cardiac issues, fail our need for tangible solutions from which to base projections and are not powering our current forecasts; however and more importantly, the development of the monitoring ecosystem clearly supports the large addressable opportunity point. Nearer-term growth comes on the addition of new sales professionals, filling out an effort Biotricity has not grandly supported to date, and where we expect their addition to drive the steep immediate sales ramp forecast here."
No. 5 Potential BTCY Breakout Catalyst - Shareholder Update Claims Company "Well-Positioned For 2022"
Biotricity, a Leader in Remote Cardiac Health Monitoring Solutions, Issues Company Roadmap in 2021 Shareholder Letter
The Company believes that it is "well-positioned for 2022."
Letter highlights milestones, products roadmap, growth strategy and 2022 goals
REDWOOD CITY, CA / ACCESSWIRE / December 7, 2021 / Biotricity, Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, has released its December 2021 CEO Shareholder Letter, which discusses recent Company milestones achieved including its financial performance, commercialization of its new Biokit, and other state-of-the-art remote cardiac monitoring devices and software apps in development.
Highlights from the shareholder letter include:
- Recent uplisting to Nasdaq that the Company believes will help further attract a larger pool of sophisticated institutional in-vest-ors, and a potential increase in liquidity and visibility
- Commercialization of the personal medical 3-devices kit, Biokit, for integration into the Biotricity ecosystem
- Record quarterly revenue of $1.81Mn for its 2022 fiscal year's second quarter ended September 30, 2021, up 143% year-over-year - its tenth consecutive quarter of triple-digit year-over-year growth
- The product roadmap for Bioflux®, Biotres, Biocare® Telemed, Biokit, and Bioheart
- The Company's 2022 goals include launching new state-of-the-art cardiac monitoring solutions and software services.
Dr. Waqaas Al-Siddiq, Founder and CEO of Biotricity commented, "We had a historic second quarter that saw revenue increase 143% YoY, the strengthening of our balance sheet, and uplisting to Nasdaq which has boosted our exposure to in-vest-ors worldwide. We've made great strides in each vertical we targeted over the year and are well-positioned to continue the execution of our overall growth plan for 2022. We seek to take telemedicine to a new, next-generation level of cost-effectiveness as well as disrupt the cardiac care landscape by reducing patient care costs with improved patient outcomes."
Read the full article here.
BTCY Recap: 5 Potential Breakout Catalysts For This Nasdaq MedTech Profile
No. 1 - Bioheart Heart Monitor Product Now Available
No. 2 - Strong Balance Sheet And Revenue Growth Announcement
No. 3 - Bullish Technical Indicators Cover Short, Medium, And Long Term
No. 4 - Major Price Targets From 4 Different Analysts/Firms
No. 5 - Shareholder Update Claims Company "Well-Positioned For 2022"
Coverage is officially reinitiated on BTCY. When you have time later, do this: