Biotricity Partners with a Second Top Group Purchasing Organization – Positions Company for Expanded Market Access to 1 out of every 2 Hospitals in America
REDWOOD CITY, CA / ACCESSWIRE / March 5, 2024 / Biotricity Inc. (NASDAQ:BTCY) (“Biotricity” or the “Company”), a leading medical diagnostic and consumer healthcare technology company, today announced its partnership with another of the nation’s top Group Purchasing Organizations (GPOs). This strategic move solidifies Biotricity’s presence in the healthcare landscape and broadly expands market access for the Company in 2024. Biotricity now has access to over half the hospitals in the US, with a network of over 3,000 hospitals, through these two major GPOs which are responsible for over $160 billion in purchasing power.
“Biotricity’s relationship with yet another leading GPO marks a significant achievement for our company, both in terms of expanding our reach and unlocking substantial growth potential,” said Waqaas Al-Siddiq, Ph.D., Founder, Chairman, and CEO of Biotricity. “This latest partnership provides additional validation of the value of our technology and strengthens our market access while emphasizing our dedication to delivering cutting-edge solutions that drive positive clinical results while maximizing economic returns.”
With U.S. healthcare expenditures soaring to $4.5 trillion in 2022 and an aging population expected to drive further increases, the need for cost-effective buying solutions in medicine has never been more pressing. GPOs are pivotal in streamlining purchasing processes for clinical care systems across the U.S. According to research from the Healthcare Supply Chain Association, GPOs collectively save the healthcare industry as much as $55 billion annually.
Representing 97% of U.S. hospitals, GPOs leverage their significant negotiating power to secure advantageous terms for medical devices and supplies. Biotricity’s newest affiliation gives the company access to over half of all hospitals in America and is a testament to the Company’s strategy of promoting accessible, high-quality care to improve patient outcomes while strategically positioning it for unmatched market access and growth.
Investors interested in Biotricity’s promising revenue prospects are encouraged to visit www.biotricity.com/investors for more information on the Company’s array of medical diagnostic and consumer healthcare technologies.
About Biotricity
Biotricity is transforming the healthcare market by bridging the gap in remote monitoring and chronic care management with a focus on cardiology. Physicians and patients trust Biotricity’s unparalleled standard for preventive and personal care, including diagnostic and post-diagnostic solutions for chronic conditions. The company develops comprehensive remote health monitoring solutions for the medical and consumer markets. To learn more, visit www.biotricity.com and follow us on Twitter and LinkedIn.
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SOURCE: Biotricity, Inc.
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