The Conversation (0)
Minneapolis, MN, July 19, 2016 (GLOBE NEWSWIRE) — BioSig Technologies (OTCQB:BSGM), a medical device company developing the PURE EP(TM) System, a novel cardiac electrophysiology information system, today announced it has issued a letter to the Company’s shareholders.
Minneapolis, MN, July 19, 2016 (GLOBE NEWSWIRE) — BioSig Technologies (OTCQB:BSGM), a medical device company developing the PURE EP(TM) System, a novel cardiac electrophysiology information system, today announced it has issued a letter to the Company’s shareholders.
Highlights and Recent Developments:
- The Company recently announced the completion of a $4.5 million private placement. Insiders including members of the Board and Management purchased $630,000, or approximately 12.5% of the deal.
- Management announced a new Advanced Research Initiative with Mayo Clinic based on the success of preclinical trials throughout 2015. Nine additional trials have been scheduled through Q2 2017.
- BioSig’s PURE EP(TM) System is designed to address the widespread cardiac electrophysiology (EP) marketplace, which is growing at 12.1% CAGR and is the fastest growing segment of cardiology.
- World-class management team, Board of Directors and scientific advisory board from market leaders including: Texas Cardiac Arrhythmia Institute, Mayo Clinic, Mount Sinai, UCLA, Boston Scientific, Medtronic, St. Jude Medical, Johnson & Johnson, J.P. Morgan and other Fortune 500 companies and elite institutions.
- BioSig expects to “uplist” to a national exchange in the next 6-12 months.
Supporting Market Data
- The Center for Disease Control estimates as many as 6.1 million people in the United States have Atrial Fibrillation (AFib), and it costs the United States approximately $6 billion each year, $26 billion adding indirect costs.
- Medical costs for people who have AFib are about $8,705 higher per year than for people who do not suffer with the condition. Additionally, it leads to more than 750,000 hospitalizations every year, while contributing to an estimated 130,000 deaths.
- There have been several major acquisitions made in the industry during the past 18 months, including: Abbott (NYSE: ABT) bought Topera for $350 million, Medtronic (NYSE: MDT) bought Cardio Insight for $272 million; AtriCure (NASDAQ: ATRC) bought nContact for $149 million.
The complete shareholder letter is available at: biosigtech.com
Connect with BioSig Technologies (OTCQB:BSGM) to receive an Investor Presentation.