BioSig Executes Agreement with Bellin Health for the Acquisition of its PURE EP™ Technology
January 10 2023 - 8:30AM
- Leading Midwest healthcare system
reports significant cost savings and noise reduction following
evaluation of the PURE EP™ System
- Medical center signs agreement to acquire the Company’s
digital signal processing technology for arrhythmia
care
BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the
“Company”) an advanced digital signal processing technology company
delivering unprecedented accuracy and precision to intracardiac
signal visualization with its proprietary PURE EP™ System, today
announced that Bellin Health System in Green Bay, Wisconsin has
signed an agreement to acquire the Company’s PURE EP™ System.
The agreement follows a 60-day formal evaluation of the PURE EP™
System at Bellin Health. The hospital reported that the PURE EP™
demonstrated a significant cost savings per case as well as a
substantial reduction in noise and signal interference compared
to the use of conventional systems only.
The agreement grants Bellin Health full autonomy with respect to
its operation of the PURE EP™ System, and BioSig will not be
required to provide an on-site clinical account manager following
the new system install.
The PURE EP™ System is a combination of hardware and software
that enables the real-time acquisition of raw signal data—absent of
unnecessary noise or interference—allowing physicians to make
informed clinical decisions based on clear and precise data. With
the heightened visualization of active signals, the PURE EP™ System
is facilitating personalized patient care and innovations in the
field of electrophysiology.
“Bellin has observed, first-hand, that clear cardiac signals
provide more information that can impact procedural efficiency
without driving up procedural costs,” commented Gray Fleming, Chief
Commercial Officer, BioSig Technologies. “The terms of this
agreement represent a new milestone for the PURE EP™
System—expanding the accessibility and automaticity of our novel
digital signal processing technology.”
Bellin Health recently announced plans to combine operations
with Gundersen Health System, a physician-led, nonprofit,
integrated healthcare network headquartered in La Crosse,
Wisconsin. The hospital serves 22 counties in western Wisconsin,
southeastern Minnesota, and northeast Iowa. The merger allows the
health systems to offer access to more resources and a broader
network of top-tier clinical services, shared provider expertise,
state-of-the-art technology and digital healthcare tools that bring
virtual care options into homes and workplaces.1
About Bellin HealthBellin Health’s Heart and
Vascular Team brings more than 50 years of experience in all facets
of cardiac care, making the medical center the most experienced
program in the region. The physicians at Bellin are board-certified
specialists with experience in all areas of cardiovascular care
including echocardiography, nuclear cardiology, interventional
cardiology, electrophysiology, and endovascular medicine. As the
largest group of cardiovascular specialists in Green Bay, Bellin
Health is renowned for its comprehensive cardiovascular care
centers across the Midwest and its surrounding regions.
(www.bellin.org).
About BioSig Technologies BioSig
Technologies is an advanced digital signal processing technology
company bringing never-before-seen insights to the treatment of
cardiovascular arrhythmias. Through collaboration with physicians,
experts, and healthcare leaders across the field of
electrophysiology (EP), BioSig is committed to addressing
healthcare’s biggest priorities — saving time, saving costs, and
saving lives.
The Company’s first product, the PURE EP™ System, an FDA 510(k)
cleared non-invasive class II device, provides superior, real-time
signal visualization allowing physicians to perform insight-based,
highly targeted cardiac ablation procedures with increased
procedural efficiency and efficacy.
The PURE EP™ System is currently in a national commercial launch
and an integral part of well-respected healthcare systems, such as
Mayo Clinic, Texas Cardiac Arrhythmia Institute, Cleveland Clinic,
and Kansas City Heart Rhythm Institute. In a blinded clinical
study recently published in the Journal of Cardiovascular
Electrophysiology, electrophysiologists rated PURE EP™ as
equivalent or superior to conventional systems for 93.6% of signal
samples, with 75.2% earning a superior rating.
The global EP market is projected to reach $16B in 2028 with a
11.2% growth rate.2
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) market conditions and the
Company’s intended use of proceeds; (ii) the geographic, social and
economic impact of COVID-19 on our ability to conduct our business
and raise capital in the future when needed; (iii) our inability to
manufacture our products and product candidates on a commercial
scale on our own, or in collaboration with third parties; (iv)
difficulties in obtaining financing on commercially reasonable
terms; (v) changes in the size and nature of our competition; (vi)
loss of one or more key executives or scientists; and (vii)
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.
1
https://www.gundersenhealth.org/news/gundersen-bellin-anticipate-merger-closing-nov-30-start-of-operations-dec-1
2Global Market Insights Inc. March 08, 2022.
Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
55 Greens Farms Road, 1st Floor
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133
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