BioSig Technologies, Inc. Partners with Summit Blue Capital to Provide Equipment Leasing Services
March 29 2022 - 10:06AM
BioSig Technologies, Inc. (Nasdaq: BSGM) ("BioSig" or the
"Company"), a medical technology company commercializing an
innovative signal processing platform designed to improve signal
fidelity and uncover the full range of ECG and intra-cardiac
signals, today announced a new partnership agreement with Summit
Blue Capital for implementing a leasing and finance program for the
Company's PURE EP™ System.
The Minneapolis-based Summit Blue Capital is a leader in
equipment finance and leasing. It offers tailored leasing and
financing solutions for its partners and clients in industries such
as healthcare, manufacturing, hospitality, technology solutions,
and more. Most notably, Summit Blue Capital specializes in
simplifying the financing experience and finding solutions to
advance commercial roll outs in the healthcare industry.
"We believe that partnering with Summit Blue Capital will have
considerable benefits to our commercial plans. We intend to take
advantage of the Summit team’s expertise, flexibility, and
financial solutions as a leasing partner,” said Kenneth L.
Londoner, Chairman and CEO of BioSig Technologies, Inc.
“Summit Blue Capital came highly recommended by one of the largest
money center U.S. financial institutions. We believe this
relationship will help take friction out of the sales cycle and
advance our timeline while allowing BioSig to get paid up front per
installation. The team at Summit Blue Capital is expected to also
help us launch a subscription-based revenue model for our
software.”
“The pathway to purchase is always of great consideration in the
capital equipment forum. We anticipate that partnering with Summit
Blue Capital will impact our ability to expedite PURE EP’s entrance
into new electrophysiology labs across the United States,”
commented Gray Fleming, Chief Commercial Officer of BioSig
Technologies, Inc.
“BioSig has made significant improvements to the EP market, and
they have a unique technology offering with their PURE EP,” said
Adam Drill, President of Summit Blue Capital. “Summit Blue Capital
is excited to partner with BioSig and execute on a strategic
financing and leasing program that we believe will benefit their
customer roll out and help position them as a leader in medical
technology. We look forward to helping each other and building a
solid foundation for the future.”
The PURE EP™ is an FDA 510(k) cleared non-invasive class II
device that aims to drive procedural efficiency and efficacy in
cardiac electrophysiology. To date, 75 physicians have completed
more than 2,150 patient cases with the PURE EP™ System.
Clinical data acquired by the PURE EP™ System in a multi-center
study at Texas Cardiac Arrhythmia Institute at St. David's Medical
Center, Mayo Clinic Jacksonville, and Massachusetts General
Hospital was recently published in the Journal of Cardiovascular
Electrophysiology and is available electronically with open access
via the Wiley Online Library. Study results showed 93%
consensus across the blinded reviewers with a 75% overall
improvement in intracardiac signal quality and confidence in
interpreting PURE EP™ signals over conventional sources.
About Summit Blue Capital Summit Blue Capital
is a national commercial finance business based in Minnesota. The
Company specializes in custom vendor programs and lease
lines-of-credit for companies across the United States.
Summit Blue is a privately owned and independently operated finance
company that serves all industries. For more information,
visit www.summitbluecapital.com.
About BioSig Technologies BioSig Technologies
is a medical technology company commercializing a proprietary
biomedical signal processing platform designed to improve signal
fidelity and uncover the full range of ECG and intra-cardiac
signals (www.biosig.com).
The Company's first product, PURE EP™ System is a computerized
system intended for acquiring, digitizing, amplifying, filtering,
measuring and calculating, displaying, recording, and storing
electrocardiographic and intracardiac signals for patients
undergoing electrophysiology (EP) procedures in an EP
laboratory.
Forward-looking Statements This press release
contains "forward-looking statements." Such statements may be
preceded by the words "intends,” "may,” "will,” "plans,” "expects,”
"anticipates,” "projects,” "predicts,” "estimates,” "aims,”
"believes,” "hopes,” "potential" or similar words. Forward- looking
statements are not guarantees of future performance, are based on
certain assumptions and are subject to various known and unknown
risks and uncertainties, many of which are beyond the Company's
control, and cannot be predicted or quantified and consequently,
actual results may differ materially from those expressed or
implied by such forward-looking statements. Such risks and
uncertainties include, without limitation, risks and uncertainties
associated with (i) the geographic, social and economic impact of
COVID-19 on our ability to conduct our business and raise capital
in the future when needed, (ii) our inability to manufacture our
products and product candidates on a commercial scale on our own,
or in collaboration with third parties; (iii) difficulties in
obtaining financing on commercially reasonable terms; (iv) changes
in the size and nature of our competition; (v) loss of one or more
key executives or scientists; and (vi) difficulties in securing
regulatory approval to market our products and product candidates.
More detailed information about the Company and the risk factors
that may affect the realization of forward-looking statements is
set forth in the Company's filings with the Securities and Exchange
Commission (SEC), including the Company's Annual Report on Form
10-K and its Quarterly Reports on Form 10-Q. Investors and security
holders are urged to read these documents free of charge on the
SEC's website at http://www.sec.gov. The Company assumes no
obligation to publicly update or revise its forward-looking
statements as a result of new information, future events or
otherwise.
Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
55 Greens Farms Road
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x119
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