Biotricity: Revolutionizing Cardiac Care & Market Share | Cutting-Edge Solutions & Growth
Mar. 25, 2024
Biotricity is revolutionizing cardiac care with its cutting-edge remote diagnostic and monitoring solutions that cater to a $35 billion total addressable market opportunity. By integrating advanced hardware and proprietary software, Biotricity has established a new paradigm in cardiac care. The Company’s robust technology platform and product ecosystem, featuring FDA-cleared smart cardiac monitors, coupled with a comprehensive cloud ecosystem, ensure seamless management of patient health across all stages of cardiac care. Utilized daily by cardiologists across 34 states and 500 centers, Biotricity has captured an 8% market share in cardiology, bolstered by a remarkable 99.2% retention rate and an LTV/CAC ratio of 9.
Biotricity reported record margins of 69% in FY2Q24 and expects margins to improve to 80% in the near-term. The Company’s revenue run rate, which was $14 million as of September 30, 2023, is expected to increase to $20 million over the next 12 months as Biotricity’s strategic partnerships with leading Integrated Delivery Networks (IDNs) and Group Purchasing Organizations (GPOs) are set to accelerate growth. Significantly, 93% of the Company’s trailing 12-month revenue is recurring, thanks to its technology-as-a-service model, paving a clear path to profitability with positive EBITDA anticipated in the next six months. Biotricity’s leadership team has over 100 years of collective startup experience and a proven track record of successfully launching 70+ products in over 30 countries. With its strong technological foundation, clear path to profitability, strategic market positioning, and experienced leadership, Biotricity represents a compelling value proposition for investors seeking to capitalize on the rapidly evolving medtech space.
Visit RedChip.com to learn more.
