Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Biotricity expands cardiac AI platform, eyes FDA filing

EditorAhmed Abdulazez Abdulkadir
Published 2024-03-12, 09:16 a/m
© Reuters.
BTCY
-

REDWOOD CITY, CA - Biotricity Inc. (NASDAQ:BTCY), a technology-as-a-service company focusing on medical diagnostics and consumer healthcare, has announced plans to expand its Cardiac AI Cloud platform.

The company is developing a cardiac AI clinical model designed to assist clinicians in making decisions for cases requiring intervention or review. With the expectation to file for FDA clearance by year-end, Biotricity aims to enhance the precision and efficiency of patient care.

The healthcare AI market is forecasted to reach $208.2 billion by 2030, according to Grand View Research. The remote patient monitoring (RPM) market is also expected to grow, with projections reaching $96.67 billion by the same year. Biotricity's expansion comes at a time when the industry is witnessing an increase in patient data due to the growing number of individuals enrolled in RPM programs.

Biotricity's AI automation engine, already in use, has shown to improve operational efficiency and support the company's growth, as reflected in its improving margins. The company's further development of its automation engine and clinical engine is set to empower healthcare providers to manage larger patient volumes amid resource shortages and a rising population of chronically ill patients.

The company is collaborating with key partner technologies like Google (NASDAQ:GOOGL)'s TensorFlow and Amazon (NASDAQ:AMZN) Web Services to build its cardiac AI clinical model. This model will utilize a vast anonymized dataset, including over 500 billion heartbeats, to develop predictive analytics for early detection of cardiac conditions and improve diagnostic accuracy and patient outcomes once FDA clearance is obtained.

Dr. Waqaas Al-Siddiq, Ph.D., Founder, Chairman, and CEO of Biotricity, expressed enthusiasm about the expansion of their Cardiac AI Cloud platform. He highlighted the company's commitment to revolutionizing medical diagnostics and consumer healthcare through proprietary AI technology and strategic partnerships.

Biotricity's mission is to bridge the gap in remote monitoring and chronic care management, particularly in cardiology. The company is recognized for its preventive and personal care solutions for chronic conditions and continues to develop remote health monitoring solutions for both medical and consumer markets.

This expansion and the anticipated FDA filing are based on a press release statement from Biotricity Inc.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.