BioSig Technologies (BSGM) Sees Positive Momentum from Sales Pipeline Growth

August 16, 2022 9:47 AM EDT
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  • Company sees increase in medical centers entering into 60-day evaluation agreements
  • Existing customers seeing positive results from PURE EP™ System expected to increase number of units purchased

BioSig Technologies, Inc. (NASDAQ: BSGM) ("BioSig" or the "Company"), a medical technology company advancing electrophysiology workflow by delivering greater intracardiac signal fidelity through its proprietary signal processing platform, today announced that it is seeing positive momentum from the growth of its sales pipeline, and expects to see an increase in enterprise adoption of its PURE EP™ System in the coming months.

Since BioSig’s national commercial launch of its PURE EP™ System on July 1st, 2022, the Company’s commercial pipeline has experienced a steady increase in advanced leads and technology adoption across several key regions and centers of excellence. Under the terms of its new leasing program, the Company recently signed a purchase agreement with Kansas City Heart Rhythm Institute at Overland Park Regional Medical Center. In addition, the Company inked its first master services agreement with one of the largest U.S. healthcare systems.

Among several key regions, BioSig’s PURE EP™ System continues to gain interest in hospitals across the Midwest, including new evaluation agreements with the Cleveland Clinic, a leading Medical Center of Excellence, and an additional installation at a leading medical center in Springfield, IL.

“The demand for minimally invasive catheter-based ablation procedures continues to grow. We believe that market demand is high, and expect to see an acceleration of commercial activity in our quarterly results going forward,” commented Kenneth L. Londoner, Chairman and CEO of BioSig Technologies, Inc.

BioSig’s commercial momentum is supported by its recent decision to streamline the PURE EP™ System evaluation period from 180-360 days to 60-days. The Company has also implemented a new leasing program to help expedite the acquisition of Pure EP’s superior signal processing capabilities and shortens the sales cycle. Consistent with its stated commercial strategy, BioSig is prioritizing the growth of its robust sales team, including the recent appointment of a new sales leader who will cover the COLT states (Colorado, Oklahoma, Louisiana, and Texas).

“By shortening our evaluation period and providing flexible paths to purchase, we are meeting the demands of physicians and supply chain management, ensuring that superior signal processing technology is within reach. We’re pleased to be exploring opportunities for repeat business and additional unit placement with many of our existing accounts,” commented Gray Fleming, Chief Commercialization Officer, BioSig Technologies, Inc.

Looking further ahead, the Company will be participating in several key industry conferences and events, including the 2022 Kansas City Heart Rhythm Symposium, taking place at the end of the month and the Cleveland Clinic Global EP Summit 2022 in September, where BioSig will serve as sponsor at the annual global summit.

The Company is also expanding its clinical research pipeline, including the recent commencement of a physician-initiated research protocol that will analyze the signals acquired by its PURE EP™ System during Radiofrequency (RF) ablation. Led by Dhanunjaya DJ Lakkireddy, MD, Medical Director for the Kansas City Heart Rhythm Institute, the single center study underway at Overland Park Regional Medical Center, is officially registered with [NCT05464537], and includes 30 participants with paroxysmal atrial fibrillation (AF) undergoing pulmonary vein isolation (PVI).

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