Small cap Internet of Medical Things (IoMT) company Biotricity Inc (OTCQB: BTCY) has just released operational updates for fiscal Q2 2018 – including a 150% increase in total device sales and a 75% increase in new customers from Q1.

Small cap Internet of Medical Things (IoMT) company Biotricity Inc (OTCQB: BTCY), which is building a remote patient monitoring platform, has just released operational updates for fiscal Q2 2018 (which ended September 30, 2018). To begin with, Bioflux 1.0 (which is a high-precision, single-unit mobile cardiac telemetry or MCT device that provides real-time monitoring and transmission of ambulatory patients’ ECG information) experienced record high sales growth and market expansion during the fiscal Q2 2018 – including a 150% increase in total device sales and a 75% increase in new customers from Q1. Existing customers continued to purchase additional units leading to a 62% increase in repeat customer orders from Q1.

Note that Bioflux was first launched with clients in Texas in the beginning of April this year and has since expanded into four additional states. Biotricity also expects to complete software and hardware prototyping for a Bioflux 2.0 solution and to file a 510(k) clearance application with the US FDA by early 2019. When combined with proprietary software, highly customizable reports and 24/7 monitoring center, the Bioflux system offers complete solution for remote cardiac monitoring that merges seamlessly with physicians’ existing platforms and workflows.

In addition, Biotricity is continuing to develop “Biopatch” as an ECG patch with an anticipated filing with the FDA by Q1 2019. Biopatch is an extension of the Company’s award-winning Bioflux device that offers an alternative to the 3-lead system and is ideal for patients with less complicated cardiac conditions. The patch leverages the capabilities of Bioflux and provides wireless arrhythmia monitoring for patients who are either at risk for, or diagnosed with, certain cardiac issues.

Finally, the update noted that Biotricity is expanding its Scientific and Medical Alliance Board with eminent cardiologists who will lend their expertise to help the Company tailor its solution for chronic care management and for preemptive heart disease identification in new markets. The Company has extended an Advisory Board Membership invitation to several candidates and all have accepted with further details to be announced in the coming months.

Founder and CEO Waqaas Al-Siddiq commented:

“The momentum and growth trends we saw during the last quarter not only continued but have accelerated in the second quarter. We have had strong performance in new U.S. state markets, and we are confident this trend will continue.”

“Our anchor clients are developing loyalty to our product, and we are both excited and humbled by their level of acceptance and enthusiasm. We will endeavor to continue supporting them and fostering long-term relationships which will give us a true competitive differentiator.”

Small cap Biotricity is specialized in remote monitoring solutions for chronic illnesses along with adjacent connected healthcare applications in the diagnostic and post-diagnostic markets. The Company’s remote patient monitoring platform is comprised of three key components tailored to a variety of diagnostic and post-diagnostic applications:

• An IoT hardware with built-in cellular connectivity.
• An embedded Real Time Operating System (RTOS).
• The cloud for analysis and management of both data and devices.