Med-Tech Innovation News sat down with Dr. Waqaas Al-Sadiq, CEO of Biotricity to find out more about the company, including its offering in digital health and medical devices.
First of all, tell us about Biotricity?
Biotricity is a remote patient monitoring company that focusses on the cardiac space. Our vision is to create a complete solution that follows cardiac patients throughout their cardiac journey. Our first product, Bioflux, is focussed on real-time diagnostics and we have a product roadmap designed to support those patients post diagnosis. At our core, we are a technology company focussed on healthcare solutions that are delivered to healthcare providers in a tech-as-a-service model.
Your product line consists of four devices – tell us about how they work, both individually and together, if possible?
Bioflux is our core, product which is used to diagnose patients. Biocare Telemed is designed for follow up visits or to support remote prescribing of Bioflux. Bioheart is an upcoming product designed for the consumer market, for individuals diagnosed on the Bioflux or a similar diagnostic product. Lastly, we have Biocare pain management, an interactive app designed to provide patients and physicians a way to manage pain when they log in and track.
What made you identify these particular areas of medtech to operate in?
We saw a gap in the marketplace, where the concept of monitoring is really not the standard, instead recording is the status quo. We also saw that technologies are dated and siloed, i.e., there is no interoperability or sharing of data, even though many patients have multiple conditions. As such, we focussed on real-time monitoring within an ecosystem that can interconnect with others, as our belief is that the future is about smart connected healthcare devices. We focussed on cardiac because that is the number one killer and issue in every country in the world.
Tell us about the development of your technology. How did you go about developing it?
First step was for us to identify the need or the gap, we then looked at the commercialisation strategy (i.e., reimbursement) and then built our feature requirements based off that.
Who did you have to work with for it come to life?
We built everything in house ourselves. As an engineer by background, I architected the first concept and feature set which was the foundation for the final product.
You seem to have latched onto the growing trend of remote monitoring technology for preventive care rather than reactive. How quickly has this area accelerated?
This area was already on the path of acceleration. The recent pandemic accelerated this shift as the need to monitor higher risk patients became critical. This awareness coupled with the general industry trend has created an accelerated shift to prevention and monitoring.
Anything else you would like to add?
I think it’s important to differentiate companies that are tech players that develop technologies in house compared to companies that may own technology, build it, or white label it but ultimately provide a clinical service. Clinical service companies are focussed on the care of patients, as they should be. Whereas tech companies, like ourselves are focussed on innovation and executing our product roadmap. In the space of cardiac monitoring, that positions us uniquely.
