BioSig Technologies to Open Its Headquarters in Minneapolis
Emerging Medical Device Company to Open Its Second Location in the Medical Device Hotbed of Minneapolis
LOS ANGELES, April 14, 2015 (GLOBE NEWSWIRE) -- BioSig Technologies (OTCQB:BSGM), a medical device company developing PURE EP™ System, a proprietary technology platform designed to improve the clinical outcomes of electrophysiology procedures, today announced the opening of its second location and headquarters in Minneapolis, Minnesota. The Company will maintain its existing office based in Los Angeles, California, which will be devoted to research and development.
BioSig Technologies will open its new headquarters in the heart of the medical device community nestled in Minneapolis, Minnesota in order to attract top talent. BioSig Technologies' executives, Greg Cash, CEO and Jay Millerhagen, VP of Clinical Affairs, among other key executives, will be located at the new headquarters. Additionally, the Company plans on hiring approximately a dozen new employees in the medical device field over the foreseeable future to accommodate growth and bring BioSig Technologies' core technology, the PURE EP™ System to market.
"We are excited for the opportunity to open our headquarters in the Minneapolis/St. Paul area, which is home to the largest concentration of cardiovascular medical device companies in the world, as well as the largest employee base in this segment," said Greg Cash, CEO of BioSig Technologies, "As we prepare to commercialize the PURE EP™ System, we would like to be able to draw from this very specialized pool of talent."
According to the Heart Rhythm Society, Atrial Fibrillation (AF) is the most common arrhythmia and affects more than 2.5 million American adults, and accounts for approximately one-third of hospitalizations for cardiac rhythm disturbances. BioSig Technologies is dedicated to finding innovative solutions for cardiac arrhythmia patients and is currently developing the PURE EP™ System, a proprietary technology platform designed to aid electrophysiologists during electrophysiology (EP) procedures to correct arrhythmias. This cutting edge technology pinpoints the exact location of the arrhythmia, which will guide the ablation catheter, shorten procedure times and reduce the complexity of maneuvers necessary for identifying ablation targets for various arrhythmias.
The new headquarters will be located at 8441 Wayzata Boulevard, Suite 240, Golden Valley, Minnesota 55426. For more information please visit http://biosigtech.com.
About BioSig Technologies
BioSig Technologies is a medical device company that has developed a proprietary technology platform designed to greatly improve the $3 billion electrophysiology (EP) marketplace(1). Led by a proven management team and a veteran, independent Board of Directors, Minnesota-based BioSig Technologies is preparing to commercialize its PURE EP System.
PURE EP™ System is a next-generation surface electrocardiogram and intracardiac multichannel recording and analysis system designed to assist electrophysiologists in making clinical decisions in real-time by acquiring and displaying high-fidelity cardiac signal recordings and providing guidance in identifying ablation targets -- areas of tissue to destroy that otherwise create a heart rhythm disturbance (arrhythmia).
Analysts forecast the global market for EP devices will grow at a 12.1 percent compound annual growth rate, from $2.5 billion in 2012 to $5.5 billion by 2019(1) -- making it one of the fastest growing medical device segments. Just in the US, the number of Atrial Fibrillation (AF) and Ventricular Tachycardia (VT) arrhythmia ablations is forecast to grow at 10.5 percent from 2012 to 2017(2).
BioSig intends to seek FDA 510(k) approval for the PURE EP™ System. The Company has already achieved proof of concept validation through UCLA EP & Animal Labs, and is collaborating with several of the nation's most prestigious cardiac arrhythmia centers including Texas Cardiac Arrhythmia Institute, UCLA Cardiac Arrhythmia Center, and Mayo Clinic.
Forward-Looking Statements This release includes forward-looking statements. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing, regulatory approvals, competition and marketplace demand. More information, and BioSig risk factors, are set forth in its filings with the SEC. BioSig assumes no obligation to publicly update or revise its forward-looking statements.
(1) Electrophysiology Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
(2) HRI 2013 "Global Opportunities in Medical Devices & Diagnostics" report; triangulation of multiple sources; *AF includes left atrial tachycardia, left WPW, left atrial flutter.
CONTACT: Investor Relations:
Brian McLaughlin
BioSig Technologies, Inc.
bmclaughlin@biosigtech.com
917-370-9817
Media Relations:
Nathan Kappus
PR Prophets
Nathan@prprophets.com
914-837-9600
Released April 14, 2015
