Published by Globe Newswire
February 13, 2018
New Location to Support Company Growth and Commercialization
Santa Monica, CA, Feb. 13, 2018 (GLOBE NEWSWIRE) —
BioSig Technologies, Inc. (OTCQB: BSGM), a medical device company developing a proprietary biomedical signal processing platform designed to address an unmet technology need for the $4.6 billion electrophysiology (EP) marketplace, today announced that the Company is opening a new office in Austin, Texas.
The new offices will complement the Company’s headquarters in Los Angeles, CA and will become an operational hub hosting administration, field engineering and sales.
Texas is the second largest economy in the US and accounts for $1.6 trillion of the country’s GDP(1), making the state the 10th largest economy in the world. Attractive business climate, historically low tax rates and abundance of natural resources has allowed the state to become home to six of the top 50 companies on the Fortune 500 list(2). Steady economic growth has also led to the development of Texas’ healthcare industry. The state is home to some of the largest and most advanced medical centers in the US and the world.
“Texas has always been one of the key locations for BioSig, both for clinical development and capital formation. As we advance towards commercialization, we want to build a permanent hub in one of the most strategic locations for commercial launch and clinical activities. We are confident that having a strong operational office in Austin will allow us to grow our Company, support development activities and drive shareholder value,” commented Kenneth L. Londoner, Chairman and CEO of BioSig Technologies, Inc.
About BioSig Technologies
BioSig Technologies is a medical device company developing a proprietary biomedical signal processing technology designed to improve the $4.6 billion electrophysiology (EP) marketplace (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Los Angeles-based BioSig Technologies is preparing to commercialize its PURE EP(TM) System. The technology has been developed to address an unmet need in a large and growing market.
The Company’s first product, PURE EP(TM) System, is a novel cardiac signal acquisition and display system which is engineered to assist electrophysiologists in clinical decision making during procedures to diagnose and treat patients with abnormal heart rates and rhythms. BioSig’s main goal is to deliver technology to improve upon catheter ablation treatments for the prevalent and deadly arrhythmias, Atrial Fibrillation and Ventricular Tachycardia. BioSig has partnered with Minnetronix on technology development and is working toward FDA 510(k) clearance for the PURE EP System.
(1) “Gross domestic product (GDP) by state (millions of current dollars)”, Bureau of Economic Analysis. June 2017.
(2) “Fortune 500 2011: States”, CNN