Biotricity is a medical technology company that makes cardiac monitoring devices and software for the U.S. healthcare market. Its flagship product, the Biocore Pro, is a cellular-connected, three-channel ECG patch that physicians place on patients to continuously monitor heart rhythm and detect arrhythmias like atrial fibrillation. Data streams in real time to a monitoring center, which analyzes it and relays findings back to the physician. Biotricity sells primarily to cardiologists, hospitals, and independent diagnostic testing facilities across 35 U.S. states through a direct sales force and group purchasing organization partnerships. Biotricity uses a Technology-as-a-Service model — rather than billing insurers directly, Biotricity places devices with physician practices, which run the cardiac studies themselves, bill Medicare or private insurers directly, and pay Biotricity a recurring technology service fee. This "insourcing" model lets physicians keep the insurance reimbursement, which Biotricity argues is more attractive than competitor models where an outside service takes over the diagnostic function entirely. Revenue is largely recurring and tied to device utilization, with roughly three-quarters of revenue on flat-fee subscriptions as of the most recent period. Technology fees account for over 93% of total revenue. Growth is focused on expanding device placements through GPO partnerships covering approximately 90% of U.S. hospitals, and through specialty referral partnerships in pulmonology and neurology. Longer term, Biotricity is developing AI-based arrhythmia detection tools and pursuing international expansion.
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