Biotricity Inc. opens to the Canadian cardiology devices market

Biotricity Inc., a medical technology and consumer health company based in Redwood City, California, announced its approval by Health Canada to enter the US$1.56 billion Canadian cardiology device market. This validation marks a milestone in Biotricity's expansion strategy, highlighting its commitment to fighting cardiovascular diseases, one of the leading causes of mortality and hospitalization in Canada. Biotricity is banking on Biotres, its now-approved flagship product, to facilitate proactive management of heart health.

Dr. Waqaas Al-Siddiq, Founder and CEO of Biotricity, expressed his enthusiasm for this advancement, which promises to improve heart health care for millions of Canadians. With statistics revealing that around 40% of patients hospitalized for cardiovascular problems experience readmission, the introduction of innovative and accessible solutions is crucial. Health Canada's approval of Biotres comes at an opportune time, aiming to reduce readmissions and promote a preventative approach in the management of heart disease.

Biotricity's entry into the Canadian market coincides with a period of significant growth for the wearable health technology sector, projected to reach $30.1 billion by 2026. Biotricity is thus positioning itself as a major player in this sector evolving, offering remote cardiac monitoring devices that promise to improve monitoring and health outcomes for at-risk individuals.