BioSig Technologies, Inc.(BSGM - Free Report) recently inked a new licensing agreement with Mayo Clinic. This collaboration is expected to bolster BioSig’s commitment toward offering higher quality of patient care by introducing innovative technological solutions to medicine.
More About the Agreement
BioSig is currently focusing on the development of a proprietary biomedical signal processing platform, engineered to meet excess demand for technology in the electrophysiology (EP) marketplace.
The objective of the new agreement is to create a product pipeline that would support some of the more advanced features of BioSig’s first product, PURE EP System. The product is expected to substantially enhance the quality of arrhythmia treatments.
Per Market Research Future, the global arrhythmia monitoring devices market is expected to reach a worth of $8.08 billion by 2024, at a CAGR of 6.44% in the forecast period of 2019-2024. Hence, the licensing deal has been signed at an ideal time.
Of late, BioSig has been investing in several developments pertaining to the PURE EP System.
In July 2019, BioSig was integrated into the Russell 3000 Index and allowed 33 patent claims covering its PURE EP System. In the first half of 2019, BioSig demonstrated the success of its first patient cases using its PURE EP System at the Texas Cardiac Arrhythmia Institute in Austin, TX, Greenville Memorial Hospital in Greenville, SC and Indiana University School of Medicine. The company had also signed a decade-long collaboration deal with Mayo Clinic in March 2017.
Last November, BioSig had signed a research program deal with Mayo Clinic which consisted of several two-to-three-year projects, focusing on the development of additional advanced features of PURE EP system within the field of electrophysiology.
The stock has rallied 48.8% in the past year compared with the industry’s 4.7% decline.
Zacks Rank and Stocks Worth a Look
BioSig carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are Medtronic (MDT - Free Report) , Baxter (BAX - Free Report) and Amedisys (AMED - Free Report) , each carrying a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Medtronic’s long-term earnings growth rate is expected to be 7.13%.
Baxter’s long-term earnings growth rate is projected at 12.8%.
Amedisys’ long-term earnings growth rate is expected at 16.26%.
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