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REDWOOD CITY, Calif., Sept. 10, 2019 (GLOBE NEWSWIRE) -- Biotricity Inc. (OTCQB: BTCY), today announced that its CEO and Founder Waqaas Al-Siddiq will be on The Claman Countdown airing on Fox Business Network (FBN) on Wednesday, September 11th at 3:15 PM EDT. Mr. Al-Siddiq will discuss the current economic climate and how the Chinese tariff affects small and growing medical device companies, and ultimately, US patients. He will also discuss Biotricity’s focus on innovation in the remote patient monitoring space, and the company’s aim to create better access to accurate, high quality healthcare.
In 2017, the most recent year for which specific medical technology imports statistics are available, U.S, imports from China were worth around $5bn, while exports to China have grown every year and exceeded $4.7bn. The U.S. raised its Chinese tariff to 25 percent in May 2019. The list of products affected by the 25 percent tariff includes imaging equipment, diagnostic reagents used in X-ray examinations and dental drills. The tariffs also impact metal alloys such as aluminum and steel, which are used in the manufacturing of many medical devices. Medical device manufacturers can currently apply for individual exemptions to the tariffs, but the outlook is mixed as the USTR has already rejected requests from medtech giants like GE Healthcare and Fujifilm Medical Systems.
“Biotricity continues to facilitate the development of future medical devices that are easy to utilize in either the physician’s office or the patient’s home, and in acute-care settings,” said Mr. Al-Siddiq. “These medical-grade devices are comfortable, small, and unlike consumer devices can offer precise remote data collection and more responsive care. In the coming year, we will continue to evolve, innovate and adapt our technology for a wide range of medical applications.”
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About Fox Business Network
As of April 2019, Fox Business Network is the number one rated business network on television for the 10th consecutive quarter, according to Nielsen Media Research. Once again overtaking CNBC, FBN’s Business Day program averaged 189,000 total viewers, outpacing the competition as ongoing international trade discussions dominated the news cycle.
About Biotricity Inc.
Biotricity is a modern medical technology company focused on delivering innovative, remote biometric monitoring solutions to the medical and consumer markets, including diagnostic and post-diagnostic solutions for chronic conditions and lifestyle improvement. Biotricity’s R&D continues to focus on the preventative healthcare market, with a vision of putting health management into the hands of the individual. The company aims to support the self-management of critical and chronic conditions with the use of innovative solutions to ease the growing burden on the healthcare system. To learn more, visit www.biotricity.com.
Important Cautions Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “should,” “would,” “will,” “could,” “scheduled,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “seek,” “project,” or “goal” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans, objectives and goals of management for future operations, including plans, objectives or goals relating to the design, development and commercialization of Bioflux or any of the Company’s other proposed products or services, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance, (iv) the regulatory regime in which the Company operates or intends to operate and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain additional financing, the significant length of time and resources associated with the development of its products and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.